As a professional, I am here to enlighten you about the difference between builder buyer agreement and sale deed. These two documents are critical in purchasing a property, and it is essential to understand the dissimilarities between the two terms.
A builder buyer agreement is a legal document that outlines the terms and conditions between the builder and the buyer. It is an essential document that specifies the details of the property being purchased, such as the price, payment terms, construction timeline, and any additional clauses. This agreement is signed before the construction of the property and helps to avoid any disputes that could arise between the buyer and the builder.
On the other hand, a sale deed is a legal document that transfers the ownership rights of the property from the seller to the buyer. This document is created after the construction of the property is completed, and the buyer has made all the payment dues as per the builder buyer agreement.
In essence, the builder buyer agreement lays the foundation of the property purchase process, while the sale deed concludes the transaction.
Another significant difference between the two documents is that the builder buyer agreement is drafted by the builder, while the sale deed is created by the buyer`s lawyer. Additionally, the builder buyer agreement is specific to the property being purchased, while the sale deed is a transfer of ownership of the property.
It is important to note that both the builder buyer agreement and sale deed are legal documents that require careful scrutiny by a legal professional. Any discrepancies in these documents can lead to legal disputes down the road.
In conclusion, the builder buyer agreement and sale deed are two distinct legal documents that play a crucial role in the property purchase process. As a buyer, it is essential to understand the differences and ensure that both documents are carefully crafted and legally binding. By doing so, you can avoid any potential legal issues and enjoy the property purchase experience.