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The (TDS) describes the condition of a property and, in the case of a sale, must be given to a prospective buyer as soon as practicable and before transfer of title.
The sales contract identifies the parties and establishes the transaction's terms and conditions. The sales contract documents the earnest money amount, which the buyer and seller negotiate.
A purchase and sale agreement, or PSA, is a document that is written up and signed after a buyer and seller mutually agree on the price and terms of a real estate transaction. Depending on state laws, either a real estate agent or a real estate attorney will prepare the PSA.
A sales and purchase agreement is a legally binding agreement obligating a buyer and a seller to terms of a transaction. The SPA outlines all of the terms and conditions of the exchange and must be signed by both parties.
Deed: The deed is the document used to transfer title of the home from the seller to the buyer. ?There are several types of deeds.