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What is a sales agreement and why is it important?
A sales agreement is the fundamental document in any real estate purchase or sale. A sales agreement contains all the details pertaining to the property and the mutually agreed upon terms between buyer and seller. These include details of the present owner, and past owner, property identification numbers, approvals from concerned government departments, any encumbrances that may exist, etc. It is a legally binding document on both buyer and seller, and so all care must be taken to ensure it is true and accurate in every way. Sales agreements are filed at the registrar’s office as per the Registration Act, 1908.
Agreements are quite costly to draw up as they invariably require the professional services of a lawyer and/or Chartered Accountant; thus, any error required to be corrected by the same professionals, which drives up the cost.
The cost of errors
By virtue of off the details, it must contain, an agreement is usually an extensive document and it takes time to prepare one. Legacy processes are prone to human error; further, most projects are presented by multiple salespersons, which contributes to a lack of uniformity in the sales agreement.
Some executives tend to try and cut costs and speed up the process by photocopying the common pages and only creating originals of the rest. However, this is a potentially dangerous approach, as it is highly likely for a page or two to be left out or inserted in the wrong order.
Another common error is failure to ensure the internal pages and covers match, i.e. they correspond to the specific customer they are intended for. Shortcuts like photocopying common pages often ignore specific details and can be grounds for refusal by the Registrar, calling for rework by way of legal amendments, which is costly as well as a waste of time.
Any error or mistake means the document has to be redrawn—a waste of time and money.
Generate error-free sales agreements easily and quickly.
eBuildAuto Real Estate CRM eliminates all these potential pitfalls by capturing data from the original booking form, in effect providing you with a single source of truth. As the feature is integrated with Word, you can avail all the formatting features that Word offers, so you can add images (layout plans, RERA certificate, etc.) before generating.
As an optional feature, eBuildAuto enables you to edit the document even after it has been generated. And it allows the document to be locked, to prevent any chance of manipulation.
Positive Brand Recall
Given that the sales agreement is such an important document it is critical that it be free from errors. Mistakes are not just a waste of time and money; they create an unfavorable brand impression, too. With its powerful automated and formatting features, eBuildAuto Real Estate CRM enables quick, uniform, accurate and secure generation of sales agreement.
Looking for ways to save time, money and raise efficiencies? eBuildAuto Real Estate CRM has been designed and built specifically to address the requirements for real estate developers and promoters. Contact us for a no-commitment demo today.
