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 hereinabove written.
Signed
and delivered by Shri A..............
the
within named vendor
Signed
and delivered by Shri B ..........
The
within named purchaser
WITNESSES;
1.
2
