When purchasing a property, you naturally come across a Sale Agreement, an Agreement to Sell, or sometimes both. These legal documents are critical as they summarise the terms of the sale and defend your rights as a buyer. Though these documents can be composite, it can be challenging to understand their content and inferences without a legal background fully.
Our Document Review Service offers a welcome relief, simplifying this procedure by comprehensively reviewing the Sale Agreement or Agreement to Sell. This allows you to focus on the excitement of your property purchase rather than feeling overwhelmed by legal jargon.
Our skilled property lawyers, with extensive experience and expertise, will meticulously scrutinize these documents, translating legal content into simple language. They ensure that your rights are protected, identify potential risks, and recommend necessary changes, giving you the confidence to purchase your property.
With our service, you can continue the property acquisition, knowing that experienced specialists have cautiously reviewed your documents. Our experts will certify you are up-to-date, allowing you to move forward with peace of mind. We are confident that our team of senior property lawyers will provide the support and legal insight you need to make the most of your property transaction.
How It Works:
- Document Collection: Upload your property documents online or arrange to collect the hard copies.
- Review & Analysis: Our expert property lawyer will analyze the documents and make a detailed report.
- Consultation: A consultation call will be scheduled with our expert to discuss the report and findings.
- Report Delivery: A detailed property verification report will be handed over within five days.
Product Description:
- Upload your Sale Deed/Agreement to Sell for review by a senior property lawyer.
- Dedicated consultation with a senior property lawyer at your convenience.
- Recognize the critical legal clauses of your document.
How It Works: After making payment, you can upload your documents and schedule a convenient time for your consultation. The senior lawyers will handle your complex reading, interpreting, and understanding. At the scheduled time, you will receive an auto-generated call connecting you with the expert lawyer, who will have the document reviewed and ready for discussion.
What is an Agreement to Sell?
An Agreement to Sell outlines the key terms of the property transaction, including the property description, agreed purchase price, payment schedule, timeline for completion, and other specific conditions agreed upon by the buyer and seller, such as the condition of the property at the time of sale or any additional repairs to be made.
Notably, an Agreement to Sell does not transfer ownership. It is only a commitment that the property will be registered to the buyer at a future date, typically after the total purchase price and other conditions are fulfilled.
What is a Sale Agreement?
A Sale Agreement is a critical document in the property selling process, outlining the terms agreed upon by both parties, such as the sale price, payment terms, property details, and obligations.
The Sale Agreement typically includes:
- Details of the Parties: Names, ages, addresses, and other relevant information about the buyer and seller.
- Description of the Property: Complete property details, including location, size, identifiable landmarks, survey numbers, etc.
- Sale Price: The agreed-upon price for the property.
- Payment Terms: Methods and schedules for payment.
- Possession Date: When the buyer will take possession of the property.
- Default Clause: This clause outlines the course of action if either party fails to comply with the agreement’s terms, such as the payment of a penalty or the termination of the contract.
- Dispute Resolution: The governing law, jurisdiction, and dispute resolution process.
Once both parties sign the Sale Agreement and the sale price is paid, ownership of the property is transferred to the buyer. The Sale Agreement must be registered at the Sub-Registrar office where the property is located.
Given the legal implications of a Sale Agreement, consulting a property lawyer to draft or review the document is highly recommended.