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Know the difference: Agreement to Sell and Sale Deed!

Know the difference: Agreement to Sell and Sale Deed!
Whether you plan to buy a property or already own one; whether you are a home buyer or a home owner, you should know the legal documents that establish absolute ownership over the Property. When we talk about Sale, there are two terms which are widely used i.e. Sale Deed and Agreement to Sell.  Many times we have come across buyers who hold Agreement to Sell and mistake it for the Sale Deed. Lack of understanding of the difference could lead to grave errors and at times, dire consequences.
What is an Agreement to Sell? When a buyer approaches a house owner to buy his property, certain terms are agreed upon including the offer price. These buying terms, advance amount and other ‘conditions precedent’ (agreed conditions under which the sale can conclude) for the sale are recorded in writing and accepted by the parties in what is called the Agreement to Sell. It is important to note that the Sale Agreement in only an agreement where o…