Document background
The Real Estate Offer Agreement is a crucial document in Australian property transactions that initiates the formal process of property purchase. It is typically used when a potential buyer wishes to make a formal offer to purchase real estate, whether residential, commercial, or industrial. The agreement includes essential elements such as property details, purchase price, settlement terms, conditions precedent (such as finance and building inspections), and other transaction-specific requirements. This document must comply with relevant state/territory property laws, the Australian Consumer Law, and other applicable legislation. It serves as the foundation for the subsequent Contract of Sale if the offer is accepted. The agreement is designed to protect both parties' interests while ensuring transparency and clarity in the transaction terms.
