What is a Buying & Selling
In the market business world, there are always the buyer and seller. The buyer is the person that believes an item can be in high value while a seller is a person who generally thinks that the item's value is going to fall. It is normal in the marketplace for buying & selling transactions to happen. In other words, buy and sell means an exchange of items, these items can be any for sale platforms like houses for sale, condos for sale, land for sale, or anything that were made for sale by owner. To put it in simple words, when you trade, a buying and selling motion happens.
How to Create a Buy & Sell Document
When a buying & selling transaction happens, it will be better to make an agreement in both parties for assurance and legality. You can make an agreement with a real estate agent or any seller that trades you for a bill or anything. In writing a buy & sell agreement, it needs to be formal and legal since it is a serious transaction. Stop worrying since we are here to help you with your writing. Just follow the steps that we have prepared only for you.
1. Identify the Parties
In the opening paragraph of your agreement, you need to state the names of both parties. This is a very normal thing since your buy & sell agreement is a contract of your transaction.
2. State the Purpose
For the next paragraph of your agreement, state a few words about the purpose of making the agreement. Be concise and clear about the purpose. Write the exact purpose and do not use flowery words because you are writing an agreement so it needs to be in a formal tone.
3. Write How to Amend or Terminate the Agreement
Every agreement needs to have this part included in case of minor changes or cancellation of the transaction will happen. Write here the ways on how to amend the agreement, then add the terms and conditions if by so happen a termination of the agreement will occur.
4. Insert a Law Provision
Include laws that are related to buying and selling transactions. The laws should be applicable to any disruptions of the agreement that may happen. This is to assure both parties that a lawsuit will happen if anyone will disobey the terms and conditions stated on the agreement.
5. Let a Lawyer Review the Agreement
An agreement is a serious transaction since it involves trading of properties or money so you need a lawyer for back up. Consult a lawyer to review the contents of the agreement, most especially the law provision part since they know more about the laws concerning the agreement. Let the lawyer add and edit some details of the agreement to make it legal.
6. Print and Sign the Agreement
After the lawyer has done some minor changes to the agreement, both parties should now review the agreement and have a mutual understanding on the things written. When both are done, leave a space with the names of the buyer and seller so that they can place their signatures there. Make sure that both have copies of the agreement.