Offer

Offer

An offer is simply a proposed contract, signed by one party (usually the buyer). If the other party (usually the seller) signs it as written and without any changes – and before the offer expiration date – then a contract is created. If the seller makes any changes, then it goes back to the buyer as a counteroffer. The document can go back and forth before both parties reach agreement on the terms, as shown by their final initials on the document.