Purchase offer
A written proposal from a prospective buyer to the seller, stating the price and conditions at which they wish to purchase the property. Once accepted by the seller it may constitute a pre-contractual commitment. It typically precedes the signing of the preliminary contract. Some estate agents request the broker's financing certificate before passing the offer to the seller.
Key points
- The purchase offer precedes the preliminary contract and does not yet trigger statutory conditions.
- Some agents require the broker's financing certificate before passing the offer to the seller.
- An accepted offer can create a pre-contractual commitment that is difficult to withdraw from.
- Including a validity period limits the buyer's exposure.
Frequently asked questions
Does the purchase offer definitively bind the buyer?
Not to the same extent as the preliminary contract, but an offer accepted by the seller can bind both parties to the principle of the sale. However, the statutory financing condition only takes effect from the signed preliminary contract. Buyers should therefore avoid submitting a firm offer without first verifying their borrowing capacity.
Why does an estate agent ask for a financing certificate before passing on the offer?
To reassure the seller about the buyer's financial standing and avoid tying up the property with an unfinanceable buyer. The broker's certificate indicates that the file has been reviewed and the financing amount is credible. It often speeds up the seller's decision by strengthening the offer.
What is the difference between the purchase offer and the preliminary sales contract?
The purchase offer is an informal or semi-formal step expressing the buyer's intent. The preliminary contract is a bilateral deed binding both seller and buyer, with statutory conditions precedent, a ten-day cooling-off period, and payment of the deposit. It is from the preliminary contract that the broker officially triggers the bank processing.
In practice
A buyer submits an offer of €320,000 for a property listed at €330,000. Their broker provides a financing certificate for €320,000, which convinces the estate agent to forward it to the seller without delay.
Official sources
- What is an offer to purchase a property? · Service-Public.gouv.fr
- Sale agreement and loan condition precedent · Service-Public.gouv.fr
- Housing and financing information · ANIL