Acceptance refers to the act of agreeing to accept an offer, thereby forming a binding contract when it comes to real estate transactions. It is a critical phase where a seller agrees to the buyer's offer under specified terms and conditions, leading to the formation of a sales contract.
A Purchase and Sale Agreement (PSA) is a legally binding contract that outlines the terms and conditions related to the purchase of real estate assets. It is used primarily to detail the obligations and rights of both the buyer and the seller before the actual transfer of property ownership.
