The agreement of sale means the specific provisions, terms, and conditions for sale of any property to a buyer by a seller. This term holds immense importance in the real estate sector.
The agreement of sale is the legal contract or agreement, whereby a seller/entity and owner of property legally agrees to sell his/her property to the buyer or entity. This agreement is a must for the eventual transfer of property and ownership. Without this agreement, there can be no sales transaction. The terms and conditions may include the payment date, payment schedule, and other rights and responsibilities of both parties in the agreement.
The agreement of sale has all the necessary terms and conditions for selling any property. This agreement lists out all the provisions and legal necessities for the sale of a property to the buyer. The terms and conditions may include the final price, particulars of payments, schedules, date of payment, etc. It is an indispensable document for the purchase or sale of property or real estate. It enables the sales process to proceed smoothly without any legal hassles. Both parties should carefully examine the agreement and all its terms and conditions before signing the same. They will be bound by the sales agreement until the final creation of the sale deed and property transfer. The agreement of sale is the foundational document for creating the final sale deed, which is done at the time of complete payment from the buyer.
