Sale And Purchase Agreement Rules

The buyer often has to deposit a cashier`s check or a personal check within a few days of the agreement of both parties. This is kept until the agreement is concluded by a neutral third party. By the deadline, the purchase is complete and the transfer of ownership is registered with the government. The seller is then paid for the house. All documents are signed a few days before the submission deadline. If you have not paid the invoice until the agreed date, the seller`s lawyer can inform you that you have three working days to pay. If you cannot pay the invoice during this period, the seller may terminate the contract at any time by sending you a termination. However, if you make the deposit before such notice is served, the contract will not be terminated, even if the notice is served on you. The amount invested by the buyer for the deposit is also referred to as serious money.