What is an offer in real estate terms?

In real estate terms, an offer is characterized as a proposition made by an offeror to an offeree, outlining specific terms for a potential agreement. This concept is fundamental in real estate transactions, as it signifies the initial step towards entering into a legally binding contract.

When one party (the offeror) presents an offer to another party (the offeree), they are expressing a willingness to enter into an agreement based on certain conditions, which may include the price, property details, and any contingencies. If the offeree accepts the offer, it can then lead to the formation of a contract.

The other options do not capture the full essence of what an offer is. While a request for a buyer to make a purchase refers to the initiation of interest in a transaction, it does not convey the specific structure and intent of a formal offer. A counter proposal is a response to an existing offer, which can lead to negotiations rather than an initial offer. Lastly, a legal obligation to sell is not accurate because an offer itself does not impose any legal obligation until it is accepted and a contract is formed. Thus, the definition of an offer as a proposition to agree to terms is the most comprehensive and accurate representation in the context of real estate