Agreement for purchase of house/transfer
umesh
(Querist) 23 May 2015
This query is : Resolved
SIR,
i Wish to purchase a house and the sample agreement is as below. Please tell me sample 1 or 2.
or TO MODIFY THE 1st one.
regards
umesh halkar
AGREEMENT FOR SALE
This agreement made at Mysore on this day of 28th May 2015 between , Resident of No.255, 1st Stage, Kessare, Rajendranagar, Mysore – 570 007 (herein after called the seller) of the one part and Mr.Umesh________, resident of _______________________________ (hereinafter called the purchaser) of the other part:
Witnesseth as follows:
1. That the seller agrees to sell and the purchaser agrees to purchase for a sum of Rs_____________ (Rupees_________________) House No.39, Aishwarya Royal Residential Layout, Rajarajeshwari Nagar, Bogadi Village, Kasaba Hobli, Mysore – 570 017 (Land mark – Christ Public School) owned and possessed by the seller as an absolute owner and situated on Sy No 275/1, 276/2 & 277 Bhogadi Village, Kasaba Hobli, Mysore and bounded as follows:—
North : House No.40
South : Site No.38
East : Site No.30
West : 12 Mtr Road
containing admeasurement of East to West 12.00 Mtrs & North to South 9.00 Mtrs, in all 108 Sq. Mtrs of land together with all buildings, structures, other rights, easements and privileges enjoyed therewith.
2. That Rs (Rupees……..) have been paid as earnest money by the purchaser to the seller by means of Cheque/Demand Draft No……. dated drawn on and the balance of Rs_____________ (Rupees…….. ) shall be paid at the time of the execution of the sale-deed.
3. That the sale-deed shall be executed on or before the 28th July 2015 whereupon the purchaser shall be entitled to immediate possession of the property sold to him.
4. That the seller shall guarantee his sole and absolute title in the property to be sold and shall enter into all the usual covenants.
5. That the property sold is free from any encumbrances other than a Bank loan from IDBI Bank of Rs.27,00,000/- (Rupees Twenty Seven Lakhs Only) which shall be taken over by the Purchaser at the time of execution of the sale deed.
6. That in case the seller is unable to prove the marketable title that he has agreed to sell to the purchaser in the property agreed to be sold, it shall be open to the purchaser to cancel this agreement and to demand the return of the earnest money paid by him, and which shall be immediately returned by the seller.
7. That all expenses relating to the property up to the date of the completion of the sale shall be paid by the seller, and thereafter by the purchaser, and that all rents, profits and income up to that date shall be taken by the seller and thereafter by the purchaser.
8. That if the purchaser makes default in the performance of any of the conditions to be performed by him under this agreement, then the seller shall be entitled to forfeit the whole of the earnest money of Rs………….….paid to the seller; and that the seller shall be further entitled at annul this agreement.
9. That all expenses incurred with respect to the execution of the sale deed, including but not limited to the Registration Fee shall be paid by the seller.
10. As the original title deed and all other house and land related documents are in the Custody of the IDBI Bank, and the loan is being taken over by the Purchaser, the title deeds of the property along with all other house & land related documents shall be handled mutually between the IDBI Bank and the purchaser
11. That this agreement shall bind the above parties and their respective heirs, representatives and assigns.
In witness whereof the seller and the purchaser have here unto set and subscribed their respective hands /signatures in the presence of:
WITNESSES
1………………… Signature of the seller……………………………….
2………………… Signature of the purchaser…………………………..
Sale | By VakilNo1
Agreement for Sale of a House
THIS AGREEMENT of sale made at ……………… on this ………….. day of ………………. 2000, between A son of ………………… resident of ……………… hereinafter called the vendor of the ONE PART and B 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. upto 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 here in above written.
Signed and delivered by Shri A…………..
the within named vendor
Signed and delivered by Shri B ………..
The within named purchaser
WITNESSES;
1.
2
Devajyoti Barman
(Expert) 23 May 2015
consult a local lawyer. Such professional advice is not given here.
Sunil S Nair
(Expert) 25 May 2015
It is best advise to your interest that appoint local lawyer to deal with such agreements and assurance of proper tile in the property, for your own benefit and removing of misconception.
T. Kalaiselvan, Advocate
(Expert) 28 May 2015
As suggested by experts, better get opinion from a local lawyer and proceed as per his advise.
Rajendra K Goyal
(Expert) 02 June 2015
Get the agreement drafted through a local lawyer.
