Has your proposal been accepted? Fantastic, then now all you have to do is complete all the paperwork and finally the house of your dreams will be ready to be inhabited. After the real estate negotiation phase, the next step will certainly be to finally get to know the sellers and conclude the purchase procedure.
Although there are many Johor Bahru Property consultants who choose to skip the part relating to the compromise, our advice is however to propose instead this intermediate step that precedes the deed. The preliminary contract of sale, also known simply as “preliminary” or “compromise”, is a preliminary agreement between the parties, which takes place in an official manner and determines conditions and clauses that subsequently speed up the final notarial deed.
During the compromise, the real estate agent will read a real agreement that must be accepted and signed by the parties in place.
A real estate compromise model must not ignore these data:
- The personal data of the buyer and the promising seller;
- The agreed price, terms and methods of payment;
- The date by which the parties undertake to stipulate the deed of sale (deed);
- The existence or not of prejudicial registrations on the property;
- The provenance of the property
- The composition of the property and its accessories.
It is precisely during the compromise that the check attached to the proposal takes the value of a confirmatory deposit. The sums indicated as a deposit will then naturally be deducted from the total price of the property to be paid during the notarial deed.
Are you ready for the notarial deed? Absolutely yes!
The final phase of the purchase negotiation is dictated by the notarial deed. The deed of sale is nothing more than an official agreement between the parties, agreed in the presence of the notary and witnesses. During this phase, all documentation is analyzed for the last time and the contract is read in the presence of both interested parties.
The document that the notary will have drawn up will be the result of all the necessary building, legal and tax checks of that specific property. During the deed of sale, all the necessary formalities will be carried out and there will be the official handover of the keys.
The moment of the deed is an extremely exciting moment for both the buyer and the seller, it is therefore essential that everything goes in the right way. A single hitch could slow down or even make the entire act jump and skip for a long time. This is why being precise and prompt in providing the correct documentation to the notary could avoid subsequent problems.
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