What does a sales agreement entail?

What does a sales agreement entail?

If the owner accepts an offer from a potential buyer, we speak of an agreement.

In order to ensure that both parties are clear about exactly what this agreement entails, a written promise to purchase can be drawn up, which includes various conditions (such as the price, a suspensive condition for obtaining a loan or certain movable property that may or may not be part of the sale, etc.). This purchase promise is then submitted to the owner, who can then decide whether or not to accept the offer. 

Once the owner has accepted the written offer (the purchase promise), a sales agreement can be drawn up, which is called a compromise. The compromise is a document that is binding between buyer and seller and therefore forms the basis of the notarial deed.

Why is the notarial deed necessary?

The compromise may be binding, but only a notarial deed (deed of sale) can ensure that no other party can claim the property. The notary has to transfer the deed to the mortgage office and consequently it is legally established that the buyer is the new owner.