Did you fall in love with a property after a visit? Making a real estate purchase offer is the next step! This proposal marks the beginning of negotiations between buyers and sellers. A well-written offer makes all the difference, showing your interest in the property and proving your seriousness. Want to succeed in your property purchase? Here are all the key steps to writing a compelling purchase offer.
What Are the Steps to Making a Purchase Offer?
Buying a property is a major life project. Whether it’s a primary or secondary residence, this investment contributes to building your wealth. The purchase offer is the first step in making your investment a reality. We recommend preparing it in advance, even before browsing real estate listings in Paris or any other city.
How to Assess the Property’s Purchase Price?
Evaluating the property is one of the first real estate sale steps. After contacting the seller or the real estate professional handling the transaction, gather information about the property’s strengths. Factors like location, size, overall condition, and neighborhood appeal are important. They help you assess the selling price in comparison to the local market. Visiting the property allows you to refine your real estate valuation.
Securing Mortgage Pre-Approval
We recommend securing your financing before the visit. A mortgage pre-approval from your bank is a strong argument to reassure sellers. Whether mentioned verbally or included in your written proposal, it increases your chances of getting a positive response to your purchase commitment.
When to Make a Real Estate Offer?
Did you fall in love with a property during a visit? You should make your offer within hours or days. It is then sent to the seller, who will respond within a few days. If accepted, the property is reserved for you, and the process continues with the signing of the preliminary contract and then the final deed of sale. Once the purchase agreement is signed, the seller cannot back out. However, they can reject your offer or make a counteroffer, which you are free to accept or decline.
What Are Your Obligations After Making an Offer?
A purchase offer is binding. If accepted, this document reserves the property under the agreed terms (sale price, conditions, etc.). Before submitting an offer, it is essential to have the financial means to buy the property and the legal capacity to sign the sales contract.
Once the offer is signed, the property is considered reserved. According to French law (Article 1589-1 of the Civil Code), the owner cannot request additional payments. Otherwise, a judge may declare the offer null and void. A deposit is paid upon signing the preliminary contract, with the remaining amount transferred to the seller at the notary’s office upon signing the final deed.
How to Write Your Purchase Offer?
The real estate market is highly competitive, and sought-after properties often attract multiple buyers. Writing a clear and convincing purchase offer helps you stand out. Your offer should be carefully drafted and include the following details:
- Clearly state your full identity and contact details (address, phone number, email) so that the seller or their representative can easily reach you.
- Mention the key features of the property: exact address, size, land area, and presence of additional buildings.
- Your offer must be dated and include its validity period (typically one to two weeks after submission).
- Clearly state your offered purchase price in euros along with your financing method: mortgage, cash purchase, personal contribution, and any related suspensive conditions linked to your loan approval.
Your signature is required at the bottom of the document. Without it, your offer becomes invalid.
What Documents Should You Attach to Your Purchase Offer?
If you have already received a mortgage pre-approval, mention it and include the document. This can strengthen your offer and make it more appealing to the seller. You may also include a comfort letter, signed by your mortgage broker, to confirm your financial capacity.
To stand out, consider including a personal letter. Like a motivation letter, this document expresses your enthusiasm for the property.
What Happens After Submitting a Purchase Offer?
Once written, your offer is sent to the seller, either through the notary, real estate agent, email, or mail. We recommend keeping a copy and requesting a receipt confirmation. If accepted, the sale proceeds to the signing of the purchase agreement.
How to Make a Lower Purchase Offer?
Interested in a property but find it overpriced? You can submit a lower offer, provided you justify it with solid arguments:
- The property’s condition can justify a lower offer if renovations are needed or if it has poor energy performance.
- A property listed for several months is more likely to be negotiable. Additionally, if the seller is in a hurry, they may be willing to accept a lower price.
How to Withdraw a Purchase Offer?
If you change your mind after signing an offer, you can withdraw within the legal 10-day cooling-off period by notifying the seller via registered mail. However, the seller cannot withdraw once they have accepted your offer.