Property Agreements – an alteration which would sink your sale!
Although in our law most verbal contracts are binding, property sale agreements are an exception. They must be in writing and signed by the parties to be valid, the reason being that it greatly reduces the risk of confusion or dispute as to what the buyer and seller have actually agreed. In practice of course, the buyer’s initial offer is usually in the form of a written document which only becomes an agreement if and when signed in acceptance by the seller. And often that initial offer sparks negotiation, usually over price or other important terms, with the result that…