Definition : Offer to purchase (promise to purchase) - Counter-offer

Proposal by the seller to modify one or more clauses of the offer to purchase. The seller may want to change the sale price offered by the promising buyer (if it is lower than the one he requested), the date of the transfer of ownership, inclusions and exclusions, etc. The counter-offer renders the initial offer to purchase null and void. To follow up, the buyer will have to respond to the seller's counter-offer within a specific period. As part of the negotiation process, there may be several offers and counter-offers between the seller and the buyer.

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L'article 1068.1 du Code civil du Québec obligera, issu du projet de loi 16, obligera une plus grande transparence lors d'une transaction en copropriété. Le document d'attestation prévu dans cet article posera des questions pointues sur "l'état de la copropriété", afin que les acheteurs sortent du brouillard avant d'acquérir un appartement détenu en copropriété divise.
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An offer to purchase, also known as a promise to purchase, precedes any transaction relating to an existing property, as opposed to new or to be build condos, which are accompanied by a preliminary contract. The initiative of an offer to purchase is taken by a potential buyer, who will establish the conditions for the acquisition of a property. Although this document is not mandatory, legally speaking, it represents a mandatory passage for most buyers. Generally recorded in writing, the offer to purchase shows the willingness of the future purchaser to engage in the transaction. It is also a first step that leads to the deed of sale. 
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In business as in real estate, negotiation is at the heart of any buyer's approach. Submitting an offer to purchase at a lower price than the one requested is a fair game. The promisor-buyer can thus send an offer to the seller indicating the proposed purchase price (less than the asking price) as well as suspensory conditions.  When the owner-seller receives it, he may, within the time limit set in the offer, accept it as presented or refuse it. In case of refusal or indifference, it will therefore be considered null and void.  
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