Both parties agree that the buyer will pay the seller the total sum for the property purchased, including the deposit, on an agreed future date, known as the settlement date of the real estate transaction, upon which the purchaser assumes ownership of the property.
Both parties agree that the buyer will pay the seller the total sum for the goods purchased, including the deposit at an agreed future date. This is known as the settlement date of the real estate purchase when the purchaser assumes ownership of the property.