In a real estate transaction, who is referred to as the Offeror?

In a real estate transaction, the Offeror is the person making the offer. This individual initiates the negotiation process by proposing terms to another party, typically the seller, who has the option to accept, reject, or counter the offer. Understanding this role is crucial to recognizing how real estate transactions proceed, as the Offeror effectively dictates the initial terms under which negotiations will unfold.

The Offeror typically prepares a document that outlines the proposed price and terms for the property, demonstrating intent to create a binding agreement upon acceptance. Therefore, it's essential for both parties involved in a transaction to clearly understand who the Offeror is, as they play a critical part in the negotiation and closing processes.