Document background
An Offer to Purchase a House is a crucial document in Irish residential property transactions that initiates the formal purchase process. It is typically used after a potential buyer has viewed a property and decided to make a formal offer, but before the exchange of binding contracts. The document includes essential information such as the property details, offered purchase price, payment terms, proposed closing date, and any conditions attached to the offer. Under Irish property law, while this offer document is not legally binding, it serves as the foundation for the subsequent contract of sale and helps prevent misunderstandings between parties. The document is particularly important in Irish property transactions as it provides a clear written record of the buyer's intentions and the proposed terms, which solicitors will later use to draft the formal contract for sale.
