Document background
The Offer Of Purchase And Sale agreement is a crucial legal document used in Irish property transactions to formalize the sale process between parties. It is typically employed after initial negotiations when both parties have agreed on the fundamental terms of the sale but before the final contract signing. This document, governed by Irish law, includes comprehensive details about the property, price, payment terms, conditions of sale, and various warranties. It serves as a foundational document for both residential and commercial property transactions, ensuring compliance with Irish property law requirements including the Land and Conveyancing Law Reform Act 2009. The agreement is designed to protect both parties' interests while providing a clear framework for the transaction's progression to completion.
