Promise of Sale Agreement Template free printable template

Get Form

Show details

This document outlines the terms and conditions under which a Seller agrees to sell and a Buyer agrees to purchase a specified property, including identification of the parties, property description,

We are not affiliated with any brand or entity on this form

Fill out

Complete the form online in a simple drag-and-drop editor.

eSign

Add your legally binding signature or send the form for signing.

Share

Share the form via a link, letting anyone fill it out from any device.

Export

Download, print, email, or move the form to your cloud storage.

Why pdfFiller is the best tool for managing contracts

Learn more about security

End-to-end document management

From editing and signing to collaborating and tracking, pdfFiller has all the PDF tools you need for your contract workflow.

Mobile ready

pdfFiller is cloud-based, letting you edit, sign, and share contracts from your computer, smartphone, or tablet.

Legally binding & secure

pdfFiller lets you securely manage contracts with eSignatures that comply with global laws like ESIGN and GDPR. It's also HIPAA and SOC 2 compliant.

What is Promise of Sale Agreement Template

A Promise of Sale Agreement Template is a legal document outlining the terms for the sale of property before finalizing the actual sale.

pdfFiller scores top ratings on review platforms

awesome

Anonymous Customer

good

Juan Rafael R

Very good program

RHONA

satified

martin y

User friendly.

Mags M

I've started my own business and find PDFfiller very helpful. The notary tool is what sold me

Marissa I

Show more Show less

Fill fillable Promise of Sale Agreement Template form: Try Risk Free

Rate free Promise of Sale Agreement Template form

4.4

satisfied

56 votes

Who needs Promise of Sale Agreement Template?

Explore how professionals across industries use pdfFiller.

Promise of sale agreement template is needed by:

Home buyers
Real estate agents
Property sellers
Investors
Legal professionals

How to fill out a Promise of Sale Agreement Template form form

Understanding the Promise of Sale Agreement

A Promise of Sale Agreement is a legal document outlining an agreement between a buyer and a seller regarding the intent to enter into a formal sales contract. This agreement includes key components such as identification of parties, property details, and financial terms. It's essential to understand how a Promise of Sale differs from a traditional sale contract, where the latter typically finalizes the sale, while the former may contain conditions before the final agreement.

It acts as a commitment to proceed with a sale, subject to specific terms and conditions.
These often include the identities of the buyer and seller, property details, and agreed financial terms.
While both are binding, the Promise of Sale often includes contingencies that must be fulfilled before a sale can be completed.

Essential Details to Include in the Agreement

When drafting a Promise of Sale Agreement, accuracy in the essential details is paramount. Seller and buyer identification must include names, addresses, contact numbers, and email addresses. Moreover, clear property specifications such as the address and the legal description ensure both parties are aligned on what is being sold.

Full names along with contact information form the basis of the identification process.
This includes the property's complete address and its legal description, which is essential for legal clarity.
Specify the purchase price, earnest money deposit, and the closing date to avoid any disputes.

Document Structure: Step-by-Step Guide

Correctly filling out the Promise of Sale Agreement requires attention to detail at each step. First, accurately complete the Seller and Buyer information. Next, pay close attention to the property details, ensuring that they are both comprehensive and precise. Additionally, be sure to include or exclude items in the sale clearly, as misunderstandings can lead to significant disputes down the line.

Ensure all details match official documents to avoid delays.
Include accurate legal descriptions to ensure both parties recognize the property's boundaries.
List items specifically to avoid confusion about what is included in the sale.

Pre-Signing Considerations

Before signing a Promise of Sale Agreement, it's crucial to review certain elements. Ensure that all terms are clearly understood, and it’s wise to consult with a legal professional. The implications of the earnest money should also be considered, as this deposit indicates the buyer’s commitment.

Verify that all conditions and terms align with verbal agreements made during negotiations.
Engaging a lawyer ensures that the rights of both parties are protected and all legal requirements are fulfilled.
This deposit can be forfeited if the buyer backs out without a valid reason.

Acceptances, Refusals, and Counteroffers

Upon acceptance of a Promise of Sale, several steps must be followed. If a counteroffer is necessary, it should be communicated effectively. It's also essential to understand the consequences of refusals, particularly if one party chooses not to sign the deed of sale.

The agreement becomes binding, and the conditions must be met before the final sale.
A clear and respectful counteroffer can maintain goodwill while renegotiating terms.
Communication is key; consider mediation if disputes arise.

Potential Cancellations of the Agreement

Cancellation of a Promise of Sale Agreement is not uncommon and can occur for various reasons. Legal protocols must be followed for a cancellation to be valid. It’s crucial for both parties to understand the implications of such a cancellation, as it can affect future dealings.

These may include financing issues or changes in market value.
Follow the terms laid out in the original agreement to minimize conflict.
It can result in financial losses, especially if earnest money was involved.

Leveraging pdfFiller for Your Agreement Needs

Utilizing pdfFiller to create your Promise of Sale Agreement simplifies the entire process. The platform allows users to edit documents online effortlessly, ensuring that all vital details are captured accurately. Furthermore, pdfFiller comes equipped with features that facilitate document signing and collaboration, enhancing user experience.

Use templates for a streamlined and efficient approach.
E-signatures and real-time editing save valuable time.
Collaboration tools help ensure that all parties remain informed and engaged.

How to fill out the Promise of Sale Agreement Template

1.

Open the Promise of Sale Agreement Template in pdfFiller.
2.

Begin by entering the date of the agreement at the top of the document.
3.

Fill in the names and contact details of the buyer and seller in the designated fields.
4.

Provide a detailed description of the property being sold, including address and any relevant property identifiers.
5.

Specify the sale price and any deposit amount that needs to be paid.
6.

Include any contingencies or conditions that must be met before the sale is finalized, such as inspections or financing.
7.

Read through the document to ensure all information is accurate and legally sound.
8.

Once completed, review the entire agreement for clarity and completeness.
9.

Save the document and print copies for both the buyer and seller to sign their respective parts.
10.

Ensure that all parties have a signed copy for their records.

FAQs

If you can't find what you're looking for, please contact us anytime!

Contact Support

How to write a Promise agreement?

How do I write a Promise to Pay? Title: Clearly label the document as a “Promise to Pay” or “Promissory Note.” Date: Include the date of the agreement. Parties Involved: Specify the names and addresses of both the lender and borrower. Principal Amount: Clearly state the amount of money being borrowed.

What is the PSA agreement?

A purchase and sale agreement (PSA), also called a sales and purchase agreement (SPA) or an agreement for purchase and sale (APS), is an agreement between a buyer and a seller of real estate property, company stock, or other assets.

What is a Promise to sell?

What is the promise to sell? The unilateral promise of sale is one of the two real estate pre-contracts that formally seal an agreement between the seller of a property and its future buyer. Unlike the compromise, the promise of sale only binds the seller, in accordance with Article 1124 of the Civil Code.

How do you write a sales agreement?

How do I write a Sales Agreement? Specify your location. Provide the buyer's and seller's information. Describe the goods and services. State the price and deposit details (if applicable) Outline payment details. Provide delivery terms. Include liability details. State if there's a warranty on the goods.