Which document signifies the buyer's intent to purchase property at a specified price?

Prepare for the Minnesota Real Estate Salesperson Exam. Engage with flashcards and multiple choice questions, each with hints and explanations. Ace your exam!

The document that signifies the buyer's intent to purchase property at a specified price is the offer. When a buyer makes an offer, it expresses their willingness to enter into a contract to purchase the property under the terms outlined in that document, including the proposed purchase price and any conditions that might apply. This initial step is crucial in the real estate transaction process, as it sets the stage for negotiations between the buyer and the seller.

The other documents listed serve different purposes in the real estate process. The deed is a legal document that transfers ownership of the property from the seller to the buyer but does not reflect the buyer's intent to purchase initially. An inspection report provides information about the condition of the property but does not indicate any intent to buy. A closing statement summarizes the financial transactions involved at the closing of the property sale but comes into play only after an offer has been accepted and the transaction is nearing completion.

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