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Real Estate Offer and Acceptance Contract

Real Estate Offer and Acceptance Contract

Name: Real Estate Offer and Acceptance Contract
Brand: US Legal Forms
Price: 59.00 USD
Rating: 4.68 (260 reviews)

Category:

Real Estate - Offers

State:

Multi-State

Control #:

US-RE-O-179010-1

Format:

Instant download

Description

This is a sample Real Estate Offer and Acceptance Contract. Offer and acceptance are the key elements to a binding contract. Offer and acceptance occur when the seller accepts a buyer's offer on the home, usually by signing a Purchase and Sale Agreement already signed by the buyer. The form may be customized to suit your needs. Real Estate Offer and Acceptance Contract is a legally binding document that outlines the terms and conditions of an agreement between a buyer and a seller for the purchase and sale of a home, commercial property, or other real estate. The contract will typically include the purchase price, any contingencies or conditions, the earnest money deposit, closing date, and other important details. There are generally two types of real estate offer and acceptance contracts, a standard contract or a counter-offer. A standard contract is the initial offer from a buyer to a seller and an acceptance of that offer is usually accepted by the seller. A counter-offer is a response from a seller to a buyer's offer, which typically contains changes to the original terms of the offer.

Real Estate Offer and Acceptance Contract is a legally binding document that outlines the terms and conditions of an agreement between a buyer and a seller for the purchase and sale of a home, commercial property, or other real estate. The contract will typically include the purchase price, any contingencies or conditions, the earnest money deposit, closing date, and other important details. There are generally two types of real estate offer and acceptance contracts, a standard contract or a counter-offer. A standard contract is the initial offer from a buyer to a seller and an acceptance of that offer is usually accepted by the seller. A counter-offer is a response from a seller to a buyer's offer, which typically contains changes to the original terms of the offer.

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FAQ

Acceptance is judged objectively, but can either be expressly stated or implied by the offeree's conduct. To form a binding contract, acceptance should be relayed in a manner authorized, requested, or at least reasonably expected by the offeror.

Offer and acceptance: An offer is a statement or action that indicates a willingness to agree. Acceptance is an agreement to the terms of an offer by the other party. An offer must be communicated to the person who is meant to accept it and may be made by words or conduct.

Contract acceptance is the act of agreeing to form a legally binding agreement based on an offer provided by the other party. It is an essential element of a contract, and without it, a contract will not be valid or binding.

The traditional contract law rule is that an acceptance must be the mirror image of the offer. Attempts by offerees to change the terms of the offer or to add new terms to it are treated as counteroffers because they impliedly indicated an intent by the offeree to reject the offer instead of being bound by its terms.

The meaning of offer and acceptance is the basis of a contract. To form a contract, there must be an offer made by one party which is, in turn, accepted by another party, and then, in most cases goods and/or services must be exchanged between the two.

Generally, to be legally valid, most contracts must contain two elements: All parties must agree about an offer made by one party and accepted by the other. Something of value must be exchanged for something else of value. This can include goods, cash, services, or a pledge to exchange these items.

Acceptance of an Offer To accept an offer, a person must clearly communicate acceptance of its terms and a willingness to be bound. A person cannot accept an offer that has been revoked. Acceptance can be made orally or in writing, unless the terms of the offer require a specific form of acceptance.

More info

The requirement of offer and acceptance applies to each of the major elements of the transaction, which typically include identity of the property and price. 10Step checklist covering what happens after your offer has been accepted and you are under contract on a home.Downloadable infographic. The Takeaway: A contract for real estate should contain an accurate description of the property. The purchase contract is the most important document in any real estate sale. It must reflect the entire agreement between the buyer and seller. Place a bid on a house, condo, or other private residential property for sale with our free Offer to Purchase Real Estate form. The deadline for acceptance is often stated in a purchase contract. When you make a purchase offer on a home, make sure you fully understand all of the conditions specified in your contract. Available to complete this purchase within ______ days of Acceptance.

Real Estate Offer and Acceptance Contract

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