Document background
The House Offer Letter is a crucial initial document in Canadian residential real estate transactions, serving as the formal starting point for property negotiations. This document is typically prepared when a potential buyer has identified a property they wish to purchase and is ready to make a formal offer. The letter must comply with provincial real estate laws and regulations, which can vary by jurisdiction within Canada. It contains essential information including the proposed purchase price, payment terms, conditions, and closing date. While less comprehensive than a full purchase agreement, the House Offer Letter must still include all legally required elements to be valid under Canadian law. It's commonly used in both urban and rural property transactions and can be modified to accommodate various types of residential properties, from single-family homes to condominiums.
