Agreement for sale of flat/independent house/villa
Agreement for sale of a deed
(hereinafter called “the Vendors”)
___________________________________________________________. (hereinafter called “the Purchaser”)
Whereby it is agreed as follows:
1. The Vendors shall sell and the Purchaser shall purchase for the sum of Rs....and a perpetual yearly rent charge of Rs______ ALL THAT the property [erected or in course of being erected] known or to be known as Flat No_____ and garage No_________situate at___more particularly described in the Schedule “A” written hereunder and shown in the plan annexed hereto Together with and subject to the various rights easements privileges and reservations more particularly set forth in the Schedule “B” hereunder.
2. The Purchase shall be completed on the______ day of_____next [or at the expiration of 14 days from the receipt by the Purchaser’s solicitors of written notice from the vendors’ solicitors that the property has been completed fit for occupation (whichever is the later)] at the offices of the Vendors’ solicitors Messers_________at which time and place the purchaser shall pay the balance of the purchase price of Rs______ (credit being given for the deposit of Rs___which has already been paid to the Vendors).
3. The Vendors are selling as beneficial owners.
4. The property is sold subject to the respective covenants affecting the same referred to in the Deed of Conveyance dated_____ and the Purchaser having been supplied with a copy thereof prior to the signing hereof he shall be deemed to purchase with full knowledge thereof and shall not raise any requisition or make any objection in relation thereto.
5. The Purchaser shall pay to the Vendors’ solicitors the sum of Rs____ towards the cost of preparing and engrossing this deed and further deed of conveyance.
6. All Stamp Duty shall be paid by the Purchaser.
7. Simultaneously with the signing hereof the Vendors shall enter into an agreement with the Purchaser in the form annexed hereto for the erection of the property and to make good defects free of cost to the Purchaser and the liability under such contract shall be in lieu of any other liability for defect express or implied.
8. If the purchaser shall take all necessary and reasonable steps to apply for an offer of an advance of Rs_________ from the______ upon the security of the property hereby agreed to be sold and shall (without any fault on his part) be unable to procure such an offer within______ weeks from the date hereof the Purchaser shall be entitled by notice served within_____ weeks from the date hereof of one week from the refusal of the___to make such an offer (whichever shall be the earlier) to rescind this contract whereupon the deposit shall be returned to him and neither party shall have any claim against the other for interest compensation or costs.
9. Save as varied by or inconsistent with the express terms hereof, if there shall be any delay in completion, unless caused by the default of the Vendors, interest shall be payable on the balance of the purchase money at the rate of Rs___per cent per annum.
[SCHEDULE “A” above referred to:]
(Description of the flat)
[SCHEDULE “B” above referred to:]
(Rights, easements and reservations).
AS WITNESS the hands of the parties.