24/02/2024
PLS READ 💜
𝐂𝐨𝐧𝐭𝐫𝐚𝐜𝐭 𝐭𝐨 𝐒𝐞𝐥𝐥 𝐚𝐧𝐝 𝐂𝐨𝐧𝐭𝐫𝐚𝐜𝐭 𝐨𝐟 𝐒𝐚𝐥𝐞?
This is actually one of the most frequently asked questions sa atung mga clients especially owners na ginabaligya nila ilang property. Sell and Sale are terms often used interchangeably but in Real Estate transactions, dapat kabalo jud mo sa difference aning duha.
𝐂𝐎𝐍𝐓𝐑𝐀𝐂𝐓 𝐓𝐎 𝐒𝐄𝐋𝐋
- It is merely a 𝐦𝐮𝐭𝐮𝐚𝐥 𝐩𝐫𝐨𝐦𝐢𝐬𝐞 to buy and sell a property. There was no transfer of ownership of title that took place.
-In simpler terms, there was a binding agreement on both parties, the buyer and seller, indicating that before transfer of ownership is executed, the buyer should pay the agreed amount of the property. At the same time, the seller is obliged to transfer the ownership of the property to the buyer upon full payment.
𝐂𝐎𝐍𝐓𝐑𝐀𝐂𝐓 𝐎𝐅 𝐒𝐀𝐋𝐄
-It consists of 𝐚𝐜𝐭𝐮𝐚𝐥 𝐬𝐚𝐥𝐞 of the property and there is a transfer of ownership and title. Earnest money is given as an initial down payment and a signed agreement that the balance will be paid upon the terms agreed by both parties. Physical transfer of ownership and title is done upon the full payment of the property.