What is a sales agreement?


Also known as the “synallagmatic promise of sale “, the sales agreement is a document that binds the buyer and the seller of a property, and which, legally, is equivalent to the sale of the property: the two parts undertake to conclude the sale at the agreed price.
After many visits and months of research, you have finally found the apartment of your dreams; you have negotiated the price with the seller and you are about to sign the sales agreement. What does the signing of this act entail? Can you change your mind about buying real estate? Which event can put an end to the sales agreement? agreement is he most impotent part of sale or purchase of real estate and you need a experience agency to guide visit here for KPT Homes . 
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The sales agreement commits you to buy the apartment
Once the apartment that matches your search criteria found and its price negotiated, you must sign a first official act, which launches the beginning of the purchase process: the sales agreement.
The signing of the sales agreement, or pre-contract, involves a period of three months during which the buyer must obtain financing to carry out the real estate transaction in question. At the end of these three months, and if the buyer has succeeded in obtaining its financing, the buyer and the seller will be able to sign the authentic deed of sale, at a notary's . The buyer will become the owner and the keys of the apartment or house will be given to him.
The sales agreement may be signed before a notary or private party that is to say between the seller and the buyer only. The real estate agent will usually accompany the signature of this first official act and will provide a standard form.

The sales agreement will mention the price of the apartment and the conditions of sale; the buyer and the seller (the promissory and the beneficiary) will have to read it carefully before signing it. In general, the sales agreement provides for a condition precedent to obtaining the mortgage: this means that if the buyer does not obtain his mortgage, the sale cannot take place.
Can we change my mind once the sales agreement has been signed?
Normally, neither party can change their mind after signing a sales agreement: the buyer is obliged to buy if he obtains his financing and the seller is obliged to sell.
Nevertheless, there is a 10-day withdrawal period after the signing of the sales agreement: the purchaser may withdraw during this period of ten days, without any reason to provide.
Another event may put an end to the sales agreement: the lack of obtaining the home loan for the buyer.

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