Agreement of Sale

An agreement of sale is a contractual agreement between the seller and the buyer before the actual sale takes place. It usually contains details about the terms and conditions of sale of a property. This document also includes the amount at which the property is to be sold, often known as sale consideration, and the future date of full payment.Both the seller and the buyer must understand the terms and conditions listed in the agreement of sale and comply with them throughout the sale process. This enables the process of sale to go through without any obstacles. The agreement of sale is signed before the sale deed is executed and the sale deed is drafted based on the agreement of sale.