UK
Memorandum of sale
A memorandum of sale is the note an estate agent sends to both solicitors, and usually to the buyer and vendor, recording the agreed price and the people in the sale. It is not the contract.
Also called Sales memorandum, MOS.
What it usually contains
The price, the property address, the buyer and vendor names, their solicitors, and whether the sale depends on a related purchase or a mortgage. Some memos note fixtures the parties have agreed. It starts the conveyancing. It does not bind the parties, and a later change of price or buyer needs a fresh note.
Getting it right
Check spellings, the price and the chain position before it goes out. A wrong solicitor or a missing related sale delays the whole file. KeyAccess can draft the covering email from the facts you already hold. You still approve the send, and the legal work stays with the conveyancers.
Questions
What does Memorandum of sale mean?
A memorandum of sale is the note an estate agent sends to both solicitors, and usually to the buyer and vendor, recording the agreed price and the people in the sale. It is not the contract.
General information for agency staff, not legal advice. Rules and local practice change. Check the official source before you rely on a definition in a client letter.