What is a 'Memorandum of Sale/Sales Letters'?

The 'Memorandum of Sale/Sales Letters' is a document that records the fact that both the buyer and seller have agreed to the transaction. It can also be called a Notification of Sale. It usually records the details of the price being paid, the details of the seller and buyer and their respective lawyers. If there are any conditions to the sale (for example, exchange by a certain date) then this will form part of the Memorandum of Sale. Please be aware that this is not a legally binding document.


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