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Sale and Purchase Agreement Flow Chart

The document outlines the key steps in a sale and purchase agreement for property. It details including party details, property information, terms and conditions, obligations of the buyer to make payments according to the agreed schedule, and finally the transfer of legal ownership of the property to the buyer once full payment is made and documents are exchanged.

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Zureen Zamri
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163 views1 page

Sale and Purchase Agreement Flow Chart

The document outlines the key steps in a sale and purchase agreement for property. It details including party details, property information, terms and conditions, obligations of the buyer to make payments according to the agreed schedule, and finally the transfer of legal ownership of the property to the buyer once full payment is made and documents are exchanged.

Uploaded by

Zureen Zamri
Copyright
© © All Rights Reserved
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd
Download as docx, pdf, or txt
Download as docx, pdf, or txt
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Sale and Purchase Agreement Flow Chart

Agreement for the sale and purchase property.

Inc; property, details of all parties involved.


such as, details of the seller(s)/vendor(s), the buyer(s)/purchaser(s), solicitors and financiers), type of
loan/financing (if any), mode and timing for of delivery of vacant possession of the property and other negotiated
and mutually agreed arrangements, terms and conditions throughout the tenure of the transaction.

Agremeement for sale and purchase property


This area ensures that the interests of the purchaser and the vendor are equally considered. Each of the
participants has to see to it that the clauses included in the contract are in their favor.
Additionally, this part also indicates the type of ownership the seller has on the property being sold. If the
property is owned by more than one person the information has to be included to avoid future conflict. Each
property shareholder has to approve that they are in agreement with the purchase of the property in question.
This will subsequently make them part of the SPA contract.

The buyer(s)/purchaser(s) must be aware of and be proactive in preparing all the necessary documents needed at
each milestone for a timely progression of the transaction as well as the due date for payment of any outgoings.
The property buyer is obligated to make payments for the property. This section will indicate the amount to be
paid by the buyer. Payments can be made depending on how the seller and the buyer have agreed. However, the
buyer has to honor the payment plan that has been agreed upon. All payments have to be made before the expiry
period indicated on the contract, failure to which the seller has the legal right to sue the buyer for breach of
contract.

After the vendor has confirmed full payment, the legal ownership of the property is transferred. This phase may
involved the exchange of documents between the seller and the buyer which have to be signed. i most cases, the
paperwork is handled by the solicotors of both parties who are fully qualified to confirm the authencity of the
documents presented.

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