Oregon Real Estate Practice Test 2026 – Complete Exam Prep

An offer to purchase in real estate is fundamentally a formal proposal made by a buyer to purchase property under specified terms. This document outlines the buyer's intent, including the purchase price, contingencies, and any other conditions that need to be met for the sale to be completed. It serves as the initial step in the negotiation process between the buyer and the seller.

Once the buyer presents this formal offer, the seller can accept, reject, or propose a counteroffer, making it a crucial part of the transaction process. The clarity and specificity of the terms included in the offer help both parties understand the expectations and framework under which the sales transaction will occur.

The other options describe elements of the real estate transaction process but do not accurately define what an offer to purchase is. For instance, a contract signed by both the buyer and seller indicates that an agreement has been reached, but it comes after the offer has been accepted. A legal notification of intent to sell does not capture the essence of a buyer’s proposal to purchase. Lastly, an informal inquiry about a property would lack the formal structure and intention needed for it to be classified as an offer.