CTS vs. DOAS: Which Document Do You Hold?
The “Promise” vs. The “Ownership”. In the auction timeline, you sign two main documents. Knowing the difference prevents panic. CTS (Contract to Sell) DOAS (Deed of Absolute Sale)
The “Promise” vs. The “Ownership”. In the auction timeline, you sign two main documents. Knowing the difference prevents panic. CTS (Contract to Sell) When: You sign this after winning the bid and paying the deposit. Meaning: “I promise to sell this to you IF you pay the full amount.” Ownership: The Bank still owns the land. DOAS (Deed of Absolute Sale) When: You sign this after the loan is fully paid or you pay spot cash. Meaning: “It is yours.” Ownership: You are now the owner. This is the document you need to transfer the Title.
