When is an offer considered made in a real estate transaction?

In a real estate transaction, an offer is considered made when the buyer presents a contract to the seller. This step is critical as it signifies the buyer's intention to enter into a legally binding agreement regarding the sale of the property. The presentation of the contract typically includes the terms and conditions that the buyer is willing to accept, making it clear that the buyer formally wishes to negotiate the sale.

Once the contract is presented, the seller has the opportunity to review the terms and either accept, reject, or negotiate the offer. This act of presenting the contract is what formally initiates the negotiation process and establishes clear communication between the parties involved.

Other options such as a letter of intent typically outline preliminary terms but do not constitute a formal offer until a contract is presented. The act of the seller reviewing the contract or the buyer depositing earnest money does not equate to the offer itself being made; rather, those actions occur as part of the ongoing negotiation and agreement process following the initial offer.