contract of sale

A contract of sale is an agreement, in terms of immovable property, between a buyer and a seller.

The contract of sale sets out the terms of the sales agreement, such as the property, the purchase price, and the names of the parties to the agreement. It may also set out exactly what happens if something goes wrong during the property sale.

A contract of sale for immovable property must be reduced to writing and signed by both parties, in order to be a binding contract of sale.

A written agreement on the purchase price, terms and conditions of a sale, between between a buyer and seller. The contract of sale is simply the offer-to purchase that have been accepted in writing by both parties. Read more about the contract of sale.

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