Key Differences between Sale Agreement and Sale Deed

Once you have found your perfect 1 BHK under 50 lakhs in Thane, it’s time to complete the purchase process. Every real estate transaction has a lot of important documents that need to be maintained carefully.

There are two documents that are often confused with each other – the sale agreement and the sale deed. Both these documents serve different purposes in a property sale. To ensure you have the right document at the right time, here we take a look at both of these and their key differences.

Sale Agreement

A sale agreement is basically an agreement between a buyer and seller for a property sale. At this stage, the buyer agrees to buy and the seller to sell a certain property. It does not transfer ownership yet, but books the property for the buyer. Once this agreement is finalised, the seller cannot renegotiate the specified flats for sale in Thane West with other buyers. Further, not complying with the sale agreement could be liable for a legal case.

The sale agreement, typically signed at the time of booking, also details the responsibilities of the seller (such as handover time, pricing, and other terms). A sale agreement is important as it gives the buyer a clear idea of what to expect. This is even more crucial in under construction flat in Thane to ensure that the seller does not sell the flat to other buyers post completion.

Sale Deed

A sale deed is a critical document in the homebuying process as it is what actually transfers the ownership to the buyer. Once the sale deed is signed and registered, the house legally belongs to the buyer. Without this transaction, even if you made the complete payment, you have no legal claim to the property.

This document is signed once the project has been completed as per the terms of the sale agreement, and the payment has been made in full. The sale deed puts your name on the title of your new flat in Thane and officially makes you a homeowner. Now, you can legally, move in, sell, or rent the place as per your preference.

A Quick Look at the Key Differences

Now that you know the differences between these two and their importance, be sure to get the right document for your 1 BHK flat for sale in Thane West near Kapurbawdi.

Conclusion

When it comes to sale agreement and sale deed, both are crucial documents at different stages. As these documents give a clear framework between the buyer and seller, it is best to partner with a trusted real estate developer, like Ace Realty, that will honour these documents. With a host of premium and affordable projects flourishing in Thane and Mulund, Ace Realty offers buyers homes at excellent locations with quality construction.