The sales promise contract, which is an important stage in the purchase and sale of real estate, is a preliminary agreement for the actual sales contract to be made in the future. With this contract, the parties consent to the sale and purchase of a certain real estate under specified conditions and on a date to be determined in the future.
Parties to the Agreement:
Payor: The person who owns the real estate and will sell it in the future.
Promisor: The person who will purchase the real estate.
Content of the Agreement:
Real Estate Subject to Sale: The title deed information, island, parcel, sheet information and full address of the real estate that is the subject of the contract must be clearly stated.
Sale Price: The agreed price for the sale of the real estate should be clearly written. The payment method and schedule of the fee should also be included in this section.
Contract Duration: The validity period of the sales promise contract must be specified. If the main sales contract is not concluded within this period, the contract terminates automatically.
Right of Withdrawal: The parties may reserve the right to withdraw from the contract for a certain fee.
Other Terms: The parties may add different terms in addition to the contract. These conditions may cover issues such as delivery of real estate and title deed transactions.
Form of Contract:
The real estate sales promise contract must be drawn up in the form of an official deed. The official deed is drawn up in the presence of a notary, with the signatures of both parties and approved by the notary.
Validity of the Agreement:
A real estate sales promise contract drawn up in the form of an official deed is valid. If the parties act contrary to the contract, the other party may claim its rights arising from the contract through litigation.
Advantages of the Contract:
For the seller: It enables the real estate to find a buyer for a certain period of time. In this way, the seller eliminates the risk of the property remaining vacant.
For the buyer: It allows the buyer to clarify the price and terms of the future sale transaction in advance. In this way, the buyer can plan his budget accordingly.
Disadvantages of the Contract:
For the seller: If the buyer is given the right to withdraw from the contract, the seller may not demand a withdrawal fee from the buyer.
For the buyer: If the seller has reserved the right to withdraw from the contract, the buyer may suffer.
In summary: The real estate sales promise contract is an important document that determines the rights and obligations between the buyer and seller. Before signing this contract, it is important that both parties carefully review its contents and fully know their rights.
Things to pay attention:
It is important to get help from an expert when preparing a real estate sales contract.
The content of the contract must be clear and descriptive.
The rights and obligations of both parties should be clearly stated in the contract.
The contract must be drawn up in the form of an official deed.
