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hi everybody excellent you have a tentative verbal agreement with your landlord about buying the house now its time to turn that verbal understanding into a written offer and hopefully turn that written offer into a signed contract this is kind of like how deals are done in commercial real estate when people are buying office buildings or large apartment complexes or warehouses the buyer and seller come to a tentative agreement over the big issues in a term sheet or a letter of intent then they hand the preliminary agreement over to an attorney who dress up all full written offer the full written offer includes the agreed upon issues but also includes all the zillion other smaller issues that still need to be worked out as well the buyer and seller go back and forth with a written offer and counteroffers until they come to an agreement on all the details in the contract or they realize they cant come to an agreement and they abandon ago she ations the stage area now is equivalent to