Is it possible to have an offer and a Purchase and Sale agreement existing simultaneously?

In real estate transactions, the offer and Purchase and Sale (P&S) agreement serve different purposes, but it is possible for both to coexist in a transaction under the right circumstances. The P&S agreement is typically executed after an offer has been made and accepted, formalizing the intent of both parties to proceed with the sale under the specific terms outlined in the agreement.

When an offer is made and accepted, the terms are agreed upon, and this can lead to the drafting of a P&S agreement. Therefore, it's actually feasible for the offer to be in play while drafting or finalizing the Purchase and Sale agreement, especially during negotiations or in cases where contingencies are being addressed.

The possibility of having both documents simultaneously cannot be dismissed, as they can represent different stages of the transaction process. Thus, the statement that they cannot exist together is inaccurate in the context of real estate transactions. Having them both allows for a clearer representation of the intentions of the buyer and seller throughout the negotiation phase leading to a formal agreement.