This brochure examines issues arising during contract negotiations in residential real estate sales transactions. In particular, it focuses on "offer" and "acceptance": the process by which a buyer and seller create a binding legal contract. Any misunderstandings concerning offer and acceptance can result in serious legal and financial consequences for the buyer and seller.

The questions raised in this publication are of special concern to real estate purchasers. Consequently, they are posed from the standpoint of the purchaser.