What is an Agreement of Sale?
An Agreement of Sale comprises various terms and conditions like the amount at which property will be sold and future date of payment for the sale of the property by the seller. It is a critical document in the transaction and enables smooth flow of the sale deal.
The terms and conditions as defined and decided should be completely understood by both the parties and strictly adhered to, till the sale deed is made. It is thus the base document from which the sale deed is drafted. The sale deed is the final document which is prepared when the full payment is made by the buyer and the actual transfer of property takes place.