The Offer to Purchase

The most important thing to understand is that once you sign an offer to purchase and the offer is accepted by the vendor, you and the vendor have a binding agreement or contract for the purchase and sale of property. It is often helpful if you (or your real estate agent) provide for the ability to have the offer reviewed by a lawyer to make sure that all of the clauses in the offer necessary for your protection have been included. This is especially important if you are negotiating with a builder or developer for the purchase of a new home.