Important Facts about the Form “offer to purchase” When Buying Real Estate

After a long time of searching, you have finally found the right house that you have been dreaming of. You then approach the owner and make a good deal that would benefit both you and the owner. But before you can now call that house as your own, you still have one little thing to do. And that is to fill up a simple document. This might actually be one of the most important tasks that you have to complete before everything is considered as finished. Without this, your contract will not be considered final. Both your signatures are needed for this. That form is called the "offer to purchase."
All US states use a standardized purchase form. If you want, you can use this when trying to buy a house or you can opt to create your own form. You have the right to make your own form as long as all the needed provisions are present and that you base it from the standard format. It is advisable that you ask an expert when making a purchase form, to make sure that all the legal aspects are detailed and that the special provisions are made clear. Since this form is considered as a legal document, you might want to fully understand the contents before filling it up and giving it to the owner of the property you plan to purchase
When you create an offer to purchase, you should bear in mind the important aspects regarding the property of interest. Information like your ability to pay, mode of payment, and method of paying can be placed in the form. These are important because you want to make sure that the owner will have no worries in your ability to pay for the house.
In order to make things clear, you might want to include the following in a purchase form.
1. Clearly place your name and that of the owner. This is important to make the document binding and legal.
2. Location of the property. You can also include a clear description of the property that you plan to buy.
3. Terms and conditions for the payment, as well as, the initial down payment. You can also include if you plan to pay in full or in an agreed upon timely basis.
4. Agreed time and date wherein the title will be transferred to you, giving you the right to legally possess the property
5. You can also include an expiration time for the purchase form. This indicates the time period the owner has whether he/she will accept your offer.
6. Details about personal items that might be included in the sale of the house.
And finally, a provision that stipulates that you will conduct a sight inspection of the house that you are going to purchase. This is to protect you from any problems that might occur after the negotiations have been finalized.


James is an expert in writing about legal forms and documents that may help you when your in the search of the right legal document. He writes many articles about forms ranging from, power of attorney forms, landlord tenant forms, and almost any legal form that your searching for.