It is very important for all real estate agents to insist and ensure that they sign Sales and Purchase Agreement with all their clients they are about selling any property to. They must also ensure they sign Principal and Agent Agreement with any property owner they wish to work with in selling their properties in their behalf.
What is the Sales and Purchase Agreement (SPA) or Purchase and Sale Agreement (PSA)?
A Sales and Purchase Agreement (SPA) or Purchase and Sale Agreement (PSA), is a legally binding contract between Buyer and Seller outlining the terms and conditions for the sale of a property. For real estate agents, it’s very critical as it documents and formalizes the transaction bewteen a buyer and seller, detailing key aspects of the transaction like price, contingencies, and closing date.
