Document background
The Real Estate Offer To Purchase Contract is a fundamental document in Indian property transactions, serving as the first formal step in the property acquisition process. This document is used when a potential buyer wishes to formalize their intention to purchase a property and needs to communicate the specific terms and conditions under which they are willing to proceed with the transaction. The contract must comply with various Indian laws including the Transfer of Property Act, 1882, the Registration Act, 1908, and the Real Estate (Regulation and Development) Act, 2016. It typically includes essential information such as property details, purchase price, payment schedule, due diligence requirements, and various contingencies that may affect the transaction. This document is particularly important as it forms the basis for the final sale deed and helps prevent misunderstandings between parties by clearly documenting all terms of the proposed purchase.
