Preparation of purchase & sale contracts

We con­sider that hav­ing a signed con­tract for the sale or pur­chase of your prop­erty is es­sen­tial.

To be­gin with, it may seem ob­vi­ous, but the con­tract must be dated cor­rectly. Then, the full de­tails of both parties must be in­cluded spe­cify­ing who is the vendor and who is the pur­chaser.

As well as the ad­dress, the con­tract must in­clude the re­gistry de­tails for the prop­erty along with the cata­stral ref­er­ence num­ber for iden­ti­fic­a­tion. Please make sure you check the de­tails with your legal rep­res­ent­at­ive.

Very im­port­antly, it must state the price agreed between both parties for the sale/​pur­chase of the prop­erty and an es­tim­ated com­ple­tion date.

We al­ways re­com­mend that the agreed de­posit is made on the same day that the con­tract is signed, or at least in that same week. This way the trans­ac­tion is con­firmed and we can con­tinue with the con­vey­an­cing pro­ced­ure.

Any second pay­ments be­fore com­ple­tion should also be in­cluded to the con­tract.

To avoid any fu­ture prob­lems or con­flic­tions we would re­com­mend in­clud­ing an in­vent­ory which will also be signed by both parties.

Very im­port­antly, please check that you are aware of the pen­alty clause. This clause ex­plains the con­sequences if either party should de­cide not to pro­ceed with the trans­ac­tion of the prop­erty.

An­other im­port­ant point that we re­com­mend is for both parties to sign EACH page of the con­tract.

Please make sure you check with your legal representative all the costs and taxes involved in the purchase or sale of your property. We will be willing to help with any queries.