You are looking to buy or sell a property and you’ve come across the term ‘deed of sale’. What exactly is it?
Well, a deed of sale is a legal document that outlines the terms and conditions of a property sale. It’s essentially a contract between the buyer and seller that sets out things like the purchase price, payment terms, and any conditions that need to be met before the sale can go through.
The deed of sale is typically prepared by the conveyancer handling the transfer process, and it’s signed by both the buyer and seller before the transfer can take place.
It’s important to review the deed of sale carefully before signing it, as it’s a legally binding document. Your conveyancer can help you understand any legal jargon or complicated terms and ensure that you’re comfortable with all the terms before you sign.
Overall, the deed of sale is an important part of the property transfer process and serves as a key document in the transaction.