SPA in real estate stands for Sales and Purchase Agreement, which is a legal contract between a buyer and a seller or property developer that confirms the terms of a property transaction. It includes all essential details such as the property description, agreed price, payment schedule, completion timeline, and the rights and responsibilities of both parties involved. Once the SPA is signed, it becomes a binding agreement that legally protects both the buyer and the seller, ensuring that the property deal is carried out as per the agreed conditions and providing security and transparency in the real estate transaction.
Locked
