What is a public deed of purchase and sale?

In very simple terms, a deed is a contract between two parties that establishes the sale of a certain property by one of the parties to the other party. In this way, both parties involved in the business (buyer and seller) are obliged to be present on the day of the deed.

In the act of writing, two distinct moments take place. On the one hand, there is a purchase and sale agreement, which establishes that the buyer then becomes the legal owner of the property. On the other hand, if the buyer resorts to mortgage loans, a loan agreement with mortgage is drawn up in which everything related to the loan is stipulated (financial plan, interest rates, etc.) – it is It is precisely through the conclusion of this contract that the bank releases the amount necessary to pay the property to the seller.

It should be noted that all deed costs are fully borne by the home buyer.