What document is central to formalizing a sale agreement between buyer and developer?

The document that is central to formalizing a sale agreement between a buyer and a developer is the Agreement of Purchase and Sale. This legal contract outlines the terms and conditions of the transaction, including the purchase price, the property details, and any relevant stipulations that both parties must agree upon. It serves as a binding agreement that provides protection and clarity for both the buyer and the developer, ensuring that both parties are aware of their rights and obligations during the sale process.

In real estate transactions, this document is crucial because it not only evidences the intent of both parties to engage in the transaction but also serves as a framework for resolving any disputes that may arise. Additional context regarding the other options provides clarity: Common Expenses relate to the financial management of a condominium and would not directly pertain to the sale agreement; the Board of Directors governs the operation of a condominium corporation and is not involved in the transaction between a buyer and a developer; and the Condominium Corporation includes all owners within a development and is not a party in the direct sale agreement. Thus, the Agreement of Purchase and Sale is the key document to solidifying the deal between buyer and developer.