3 Popular Questions People Ask About Lebanon Real Estate Agreements

Sargon by Sargon Clark

Published Fri, Mar 17th 2017, 10:36 | Advertising


In Lebanon, the end of a sale is often marked by the signing of the Provisional Sale and Purchase Agreement. Although this document is legally binding on both parties involved in the sale, it only contains some basic terms. At the end of the sale, a formal sale and purchase agreement that included or the terms and condition of the Buy Apartment In Keserwan in detail are prepared. It is often advisable to get a lawyer versed in real estate to draw up this formal contract. Most often, buyers may have certain questions about the formal agreement that they will like to get clarified about. Some of these are discussed below.

What is involved in the process of signing the sale and purchase agreement?

The seller and the vendor of Buy Apartment In Lebanon will each have to appoint a lawyer to represent them in the signing of the agreement. The seller’s lawyer will prepare the agreement taking into consideration the terms in the provisional agreement. At this point, the vendor may choose to add other clauses as long as they do not contradict any terms in the provisional agreement. As soon as the seller signs two copies of the agreement, their lawyer will send the two copies to the buyer’s lawyer. The buyer’s lawyer has the responsibility of explain the terms of the contract to their client who wants to Buy House In Lebanon. When the buyer countersigns, their lawyer will have to take the signed copies together with the further payment paid by the buyer to the seller’s solicitor. The seller’s solicitor now has the duty of getting the title of the house from their client and passing it to the buyer via the buyer’s lawyer.

Can I add the name of a family member in the formal agreement if they were not mentioned in the provisional agreement?

Yes this can be done. Your solicitor will ask you and the person being nominated to sign a document that says that the named person has been appointed by the purchaser and they are allowed to sign the provisional agreement. This should be taken to the seller’s lawyer before the formal agreement is prepared for Lebanon Apartments For Sale. It is important for buyers to note that there may be cost implications in terms of stamp duty if the person nominated is not a spouse or related to them.

What is the amount required on stamp duty?

Once the parties involved in Buy House In Keserwan negotiation have reached an agreement until a provisional agreement is in place, they have thirty days to sign the formal agreement. The amount to pay on the stamp duty will depend on the price of the Property In Keserwan for Sale, purchasers should check with their agents to confirm what they need to pay. Once all the things are clear and acceptable both of the parties can proceed with next step and handover the needed documents to each other.

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