What is an offer in real estate?

An offer in real estate is fundamentally an indication of price for a property purchase. It represents the buyer's willingness to enter into a contract under specified terms, including the price they are willing to pay for the property. This expression of intent is a critical part of the transaction process, as it establishes the starting point for negotiations between the buyer and seller.

When a buyer submits an offer, it is often accompanied by contingencies and conditions that must be met for the sale to proceed, thus shaping the overall contractual framework. The offer is not merely a desire to inspect the property or a marketing strategy; rather, it is a formal proposal that, once accepted by the seller, can lead to a legally binding agreement. Therefore, understanding an offer as an expression of purchase intent is essential in navigating real estate transactions.