When does the sale come about?
In short, the sale comes about as soon as there is a signature under the deed of sale. Until then, after verbal agreement, you have a gentlemen's agreement. That is not a binding agreement. If the seller and the buyer agree on the most important issues for them in the sale (these are usually the price, the completion date and the resolutory conditions), then the sale must be recorded in writing. The selling broker records this sale in a deed of sale. This must state what the parties have agreed upon. Usually there are also a number of agreements recorded in the deed of sale. Think, for example, of the penalty clause. A resolutive condition is also an important issue. The parties must agree on this before the oral purchase. After signing the deed of purchase, you legally have three days to think over your purchase. In many cases this will be longer, as Saturdays, Sundays and public holidays are not considered 'thinking days'.