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What you need to know when buying real estate

When buying real estate, when you have found the property you are interested in and even if you don’t have an offer to make yet, you can already start making an offer to purchase. Indeed, it is a kind of pact between the two parties: seller and buyer who, through this act, commit themselves in a kind of promise to sell.

Why make an offer to purchase

Making an offer to purchase may be necessary when buying a property. Indeed, it is a real fool’s errand to get the house of your dreams. It’s not easy to find the perfect home, because even if you have criteria, they don’t always match.

While there are competitors who are on the same property as you, it is important to make a gesture to ensure obtaining the property. In this case, I advise you to make an offer to purchase, an action to be taken before the promise to sell or the signature of a compromise sale.

This is a legal act in which the future buyer shows his will to really want to buy the property. He thus enters into a kind of contract with the seller, an agreement to agree that the property will revert to the person who proposes the deed.

What the buyer and seller agree to

As the offer to purchase is a legal act, both parties: the seller and the buyer make a kind of pact. Thus, when the seller accepts the buyer’s offer, both are bound by certain obligations, there is the agreement on “the price and the thing “.

Thus, the seller is bound to keep the property and not to sell it to anyone else. The buyer must keep his promise and buy the property as agreed at the end. Generally, the buyer is the one who often breaks the contract, while the seller generally remains faithful to his promise.