A Contract to Sell is an agreement between the seller and buyer for the (a) seller to sell a certain piece of property to the buyer; and (b) the buyer to buy said property from the seller. The contract contains the basic terms of the sale such as (a) purchase price; (b) payment terms; and (c) warranties.
In a Contract to Sell the seller is free to sell the property on an as-is basis (i.e. with no warranties) or with certain warranties to entice the buyer to buy. A warranty is a legally enforceable promise that certain facts and representations about the property are true. This means the seller represents a certain fact as true or makes a representation regarding the product. A common warranty is the seller’s promise to repair the product for any manufacturing defects within a period of 1-year from purchase.
On the other hand, a property sold on an as-is basis has no warranties and the buyer is purchasing the property in its present condition, with all its faults either apparent or not.
With Legal Tree you can create a Contract to Sell for any property and customize it according to your needs.