Buy House? You Must Understand What Is S&P Agreement

Besides of signing Letter of Acceptance and Letter of Offer while you buying a property, there is still have another agreement you would need to sign also which is Sales and Purchase Agreement (generally known as “S&P Agreement” or “SPA”). So, what is S&P Agreement?

What is Sales And Purchase Agreement?
S&P Agreement is the major contract that governing both buyer and seller and lay out the details such as agreed purchase price between both parties, conditioning precedents to be fulfilled, mode of payment, the details of property itself, type of loan, mode of delivery of vacant property and other arrangement during buy-sell event. Thus, it is very important to understand every single details and rules and regulations in S&P Agreement before take up your pen and sign on it as you’ll need to take all the responsibilities once you have signed.

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