Preliminary Sale & Purchase Agreement
The buying process typically begins with a preliminary Sale/Purchase Agreement between the buyer and seller. This agreement outlines the basic terms and conditions of the transaction and confirms the seller’s commitment to sell the property under the agreed terms.
In most cases, a security deposit of approximately 10% of the purchase price is required once the agreement is signed. To process this agreement, the notary will generally require:
- A copy of the buyer’s valid identification
- Completed sale and personal information forms
- Proof of the security deposit payment