Buyers – What is an “Offer to Purchase” and can I still change my mind after signing it?

An Offer to Purchase (OTP) is a legally binding agreement once it’s accepted by the seller. It outlines all the terms of the sale, including price, timelines, and conditions. You can include conditions (like bond approval), which give you some protection, but once it’s signed and accepted, it’s not something you can simply walk away from without consequences. That’s why we make sure everything is clearly explained before you sign.