Offers Live Frequently Asked Questions

What’s the difference between a Binding and Non-Binding offer?

A Binding Offer is a formal commitment that legally obligates both the buyer and the vendor to proceed if the offer is accepted. A Non-Binding Offer is an expression of interest and does not carry legal obligations for either party. Understanding the difference helps manage expectations and legal responsibilities during the offer process.

What is a binding offer?

A Binding Offer is an enforceable commitment. Once accepted by the vendor, both parties must proceed under the terms agreed to.

What is a non-binding offer?

A Non-Binding Offer is not enforceable. It shows the buyer’s intent.