An agreement of sale is one of the most basic legal
documents that a person can come across related to real estate. It is quite
simply an agreement between buyer and seller on the terms of the transaction.
The selling price and a variety of other factors may be included on the
agreement of sale.
The document seems simple, but it carries a lot of weight with it. It is a
transfer of property between two parties. It is one of the biggest moments in
the lives of either party in the vast majority of cases. Sometimes a piece of
paper like this can have such a wildly important impact on the lives of those
who put their names on it. It is worth keeping this document around for the
entire duration of the mortgage.