So let me answer your query, when do you sign a purchase and sale agreement? You sign a Purchase and Sale Agreement (PSA) after both parties have agreed on the terms of the sale. In addition to outlining the procedures leading up to the closure, signing the agreement formalises the transaction. Before signing, both parties should carefully read the contract. I have shared the essential steps here in this answer for your understanding.
When Do You Sign Purchase and Sale Agreement?
Here are the typical steps:
Offer and Negotiation: The buyer submits an offer, and the seller can accept, reject, or counteroffer.
Agreement on Terms: Once both parties agree on the terms, including price, contingencies, and closing date, they sign the PSA.
Legal Binding: The signed PSA becomes a legally binding contract, outlining the obligations and rights of both parties.
The PSA is usually signed after the initial offer is accepted but before the final closing of the sale. I hope this information helps!
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When Do You Sign a Purchase and Sale Agreement?
Tamanna
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60 days
2024-09-30T10:42:25+00:00 2024-09-30T10:42:26+00:00Comment
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