The Real Estate Offer Form is a crucial initial document in Indian property transactions that bridges the gap between informal property viewing and formal purchase agreements. It is used when a prospective buyer wishes to formalize their intent to purchase a property, setting out the proposed terms and conditions of the purchase. The document must comply with various Indian legislations, including the Real Estate (Regulation and Development) Act 2016, Transfer of Property Act 1882, and state-specific real estate laws. This form typically initiates the property purchase process and includes essential information such as property details, offered price, payment terms, contingencies, and timeline for completion. It serves as a foundation for the subsequent sale agreement and requires careful consideration of both central and state-specific real estate regulations.
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1. Property Details: Comprehensive description of the property including address, boundaries, dimensions, and registration details
2. Offer Price and Terms: Details of the purchase price, payment schedule, and mode of payment
3. Buyer Information: Complete details of the prospective buyer(s) including legal name, address, and contact information
4. Seller Information: Complete details of the current owner(s)/seller(s) including legal name, address, and contact information
5. Offer Validity: Time period for which the offer remains valid and requires acceptance
6. Earnest Money Details: Amount of earnest money deposit, payment method, and conditions
7. Completion Timeline: Proposed timeline for completing the transaction and taking possession
8. Due Diligence Declaration: Statement regarding property inspection and acceptance of current condition
9. Legal Compliance: Declarations regarding compliance with RERA and other applicable laws
10. Signatures: Space for signatures of all parties and witnesses
1. Financing Contingency: Conditions related to the buyer obtaining mortgage or other financing
2. Property Inspection Contingency: Conditions relating to professional property inspection and resulting negotiations
3. Sale of Existing Property Contingency: Conditions making the offer dependent on the sale of buyer's existing property
4. Furniture and Fixtures: List of movable items included or excluded from the sale
5. Maintenance Charges: Details of society maintenance charges and other recurring costs
6. Occupancy Status: Details about current tenancy or occupancy and handover conditions
7. Development Authority Approval: Conditions related to obtaining necessary permissions from local authorities
1. Schedule A - Property Details: Detailed technical description of the property including exact measurements and boundaries
2. Schedule B - Payment Schedule: Detailed breakdown of payment terms, installments, and due dates
3. Schedule C - Property Documents: List of all property documents verified and to be transferred
4. Schedule D - Encumbrances: Details of any existing mortgages, liens, or encumbrances on the property
5. Appendix 1 - Property Photos: Recent photographs of the property and its major features
6. Appendix 2 - Location Map: Property location map and surrounding area details
7. Appendix 3 - Chain of Title: Summary of previous ownership transfers and title history
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