A Property Purchase and Sale Agreement is a legal contract that outlines the terms and conditions agreed upon between a buyer and a seller for the sale of real estate property. This agreement serves as a crucial document in the process of buying or selling a property and typically includes various provisions to protect the interests of both parties.
The agreement identifies the buyer and seller involved in the transaction, including their legal names and contact information and specifies the purchase price agreed upon by the buyer and seller. This may include the total purchase price as well as the payment terms, such as the amount of the down payment, the method of payment, and any financing arrangements.
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