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On Offer acceptance there is either a contract generated or a pro forma invoice generated. Since the offer is binding once accepted, the offer if well enough detailed and advised can and often does take the place of the contract. Customarily in Real Estate transactions the purchase offer itself is generally also the contract for purchase as well. The offer becomes a binding contract once accepted.

You have heard the term "letter of intent" if you have explored International business. However you might find yourself unsure and confused about how it is used.

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