A letter of offer is a document that details the terms and conditions of the transaction. A letter of offer expresses intentions of the buyer to purchase property but is not a legally-binding contract. An offer letter mainly includes the purchase price, down payment, terms and conditions. Starting off property transactions with a letter of offer is also to allow for easy negotiations. Even as a letter of offer is an important primary document, some buyers who want to buy property hurriedly instruct their lawyers to by-pass it.

Source: Standard Digital January 18, 2017 16:43 UTC