Test your knowledge of the sale and purchase agreement.
Er, not quite
A sale and purchase agreement is a legally binding contract between the seller and buyer.
It sets out all the details, terms and conditions of the sale.
The agent works for and is paid by the seller of the property but has to treat the buyer fairly.
A sale and purchase agreement is a legally binding contract, and we strongly recommend that you ask a lawyer or conveyancer to look it over before you sign it.
You can negotiate with the other person about what goes into the sale and purchase agreement. The agreement is only final and binding when both sides agree to everything in the agreement.
If the agent, or anyone related to them, wants to buy the property, they must get the seller’s written consent and provide an independent valuation.
You scored 0 out of 5
Thank you for taking the quiz!