Agreement for sale is an agreement between parties that on such and such terms the sale to take place. Terms and conditions could be agreed and sale to be completed on agreed future date with payment.
Agreement for Sale is not the actual sale but a contractual agreement to sell a property on particular terms and for a particular price.
Why Draft Agreement for sale of house?
- To have a legal support in case any one party makes default on their part of the bargain.
- To legally bind both the parties to the agreement.
- To discuss certain terms and condition of sale.
- To provide details of the buyer and also the seller
- Details of the property which is to be sold
- Acts a medium in understanding each other’s obligations
- Acts as a legal support for the said arrangement.
- Provides detail information of all the parties and the said property.
- Provides details of remedy in case any party makes default.
You need to keep in mind the following details
- Complete Name & Address of the seller & Buyer.
- Detail address and specification of the said property to be sold.
- Certain terms and conditions to be followed.
- Exact dates.
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