What document outlines the details of the buyer's offer including the purchase price and any contingencies?

The document that outlines the details of the buyer's offer, including the purchase price and any contingencies, is the purchase offer. This document is crucial in real estate transactions, as it serves to formally present the buyer’s intent to purchase a property under specified terms. It includes various critical components such as the proposed price, conditions under which the sale can proceed (contingencies), timelines for inspections or other actions, and details about earnest money deposits.

The purchase offer is essentially the starting point for negotiations between the buyer and seller. Once the seller reviews this document, they may accept it, reject it, or propose counter-offers. This negotiation process is vital in aligning both parties' expectations and concerns regarding the sale.

In contrast, the settlement statement is a document provided at closing that outlines the final terms of the sale, including costs and funds involved, but does not outline the initial offer details. The listing agreement refers to the contract between the seller and a real estate agent detailing the terms of selling the property, while the lease agreement pertains to the rental of a property rather than a purchase. Therefore, the purchase offer is the correct and specific document for outlining a buyer's proposed terms in a sales context.