A property sale refers to the process of transferring ownership of real estate from one party to another. This transaction typically involves a seller, who owns the property, and a buyer, who wishes to purchase it. The sale can include various types of properties, such as residential homes, commercial buildings, or land. During a property sale, both parties usually negotiate a price and terms of the sale, which may include financing options and contingencies. Once an agreement is reached, a legal contract is drafted, and the transaction is finalized through a closing process, where ownership is officially transferred.