Buying
What Is an Offer to Purchase?
By Midlands Property Hub · 11 July 2026
The Offer to Purchase (OTP) is a legally binding contract between buyer and seller. Once signed by both parties, it sets out the terms of the sale.
Key clauses to understand
- Purchase price and deposit
- Suspensive conditions (bond approval, sale of existing property)
- Occupation and occupational rent
- Fixtures and fittings included
- Voetstoots clause
- Compliance certificate requirements
- Transfer and occupation dates
Always have an OTP reviewed by a conveyancer or attorney before signing.
This article is for general information only and does not constitute legal advice. Consult a qualified professional for advice specific to your situation.
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