Contract of Sale
A contract of sale is defined as a contract whereby one of the contracting parties binds himself to transfer to the other a thing for a price which the latter binds him to pay to the former.
Prior to the contract of sale, a promise of sale agreement requires to be entered into which binds the purchaser to purchase and the vendor to sell the immovable property under the terms and conditions laid down in the agreement itself.
During the period between the signing of the promise of sale agreement and the signing of the contract of sale, it is required to carry out all necessary searches to ensure that there are no hypothecs or outstanding debts burdening the property.
Once all the searches have been carried out and legal title has been proved, the contract of sale is published by the purchaser’s Notary, who then registers it with the Public registry and Land Registry.
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