Agreement Of Sale Vs. Contract

2 Replies

Hello!

I was listing to a BiggerPockets podcast about how an investor was able to get an Agreement of Sale to hold a house while he looked into it further. This term sounded a lot like putting a contract on a house. 

What is the difference between an Agreement of Sale and a contract? What are the pro and cons of each? 

As Wayne said it is the same thing. If the investor said something else he is wrong. Not eveything you hear or read on BP is true. 

The investor may have one form that says Contract to  Purcase at the top and another that says Purchase and Sale Agreement. They may say diferent things and the contents have different meanings. However there is nothing in one that couldn't also be in the other. 

The words at the top of the page usually have little bearing on what is written below.