What constitutes an "offer" in real estate?

An "offer" in real estate is fundamentally a proposal to purchase a property that outlines specific terms and conditions under which the buyer is willing to make the purchase. This is why the choice highlighting a proposal to purchase under specific terms is considered the correct answer.

An effective offer typically includes crucial information such as the purchase price, financing details, and contingencies (like home inspections or the sale of the buyer’s current home). It is a formal communication that indicates the buyer's serious intent to enter into a contract upon acceptance by the seller.

In contrast, the other options do not fully encapsulate what constitutes an offer. While a proposed sale agreement with conditions points in the right direction, it more accurately describes a stage after an offer has been made. A verbal agreement may indicate interest but does not satisfy the legal criteria for a binding offer since it lacks the necessary documentation and specifics needed for acceptance. Lastly, a written statement of property value is more of an appraisal or opinion rather than an actual offer to purchase the property.