AGREEMENT FOR SALE OF A HOUSE
THIS AGREEMENT of sale made at _________ on this ________ day of ________ 20__, between __________________son of ____________________. resident of
__________________ hereinafter called the vendor of the ONE PART and ______________________
son of ___________________________ resident of ______________________
hereinafter called the purchaser of the OTHER PART.
WHEREAS the vendor is absolutely seized and possessed of
or well and sufficiently entitled to the house more fully described in the
Schedule hereunder:
AND WHEREAS the vendor has agreed to sell his house to
the purchaser on the terms and conditions hereafter set-forth.
NOW THIS AGREEMENT WITNESSETH AS FOLLOWS
(1) The vendor will sell and the purchaser will purchase that
entire house No. __________________ Road ____________________ more particularly
described in the Schedule hereunder written at a price of Rs. _____________
free from all encumbrances.
(2) The purchaser has paid a sum of Rs. __________ as earnest money
on _____________ (the receipt of which sum, the vendor hereby acknowledges) and
the balance amount of consideration will be paid at the time of execution of
conveyance deed.
(3) The sale shall be completed within a period of ________ months
from this date and it is hereby agreed that time is the essence of the
contract.
(4) The vendor shall submit the title deeds of the house in his
possession or power to the purchaser's advocate within one week from the date
of this agreement for investigation of title and the purchaser will intimate
about his advocate's report within ______________ days after delivery of title deeds to his
advocate.
(5) If the purchaser's Advocate gives the report that the vendor's
title is not clear, the vendor shall refund the earnest money, without interest
to the purchaser within ________________ days from the date of intimation about
the advocate's report by the purchasers. If the vendor does not refund the
earnest money within __________________ days from the date of intimation about
the advocate's report, the vendor will be liable to pay interest @
________________ p.m. up to the date of
repayment of earnest money.
(6) The vendor declares that the sale of the house will be without
encumbrances.
(7) The vendor will hand over the vacant possession of the house
on the execution and registration of conveyance deed.
(8) If the purchaser commits breach of the agreement, the vendor
shall be entitled to forfeit the earnest money paid by the purchaser to the
vendor and the vendor will be at liberty to resell the property to any person.
(9) It the vendor commits breach of the agreement, he shall be
liable to refund earnest money, received by him and a sum of Rs. ______________
by way of liquidated damages.
(10) The vendor shall execute the conveyance deed in favour of the
purchaser or his nominee as the purchaser may require, on receipt of the
balance consideration.
(11) The vendor shall at his own costs obtain clearance certificate
under section 230A, Income tax Act, 1961 and other permissions required for the
completion of the sale.
(12) The expenses for, preparation of the conveyance deed, cost of
stamp, registration charges and all other cut of pocket expenses shall be borne
by the purchaser.
Schedule above referred to
IN WITNESS WHEREOF the parties have set their hands to
this Agreement on the day and year first hereinabove written.
Signed and delivered by Shri
___________________________
the within named vendor
Signed and delivered by Shri
___________________________
The within named purchaser
WITNESSES;
1. __________________.
2. __________________.
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