AGREEMENT TO SELL AND PURCHASE

This Agreement is executed at New Delhi, on this ___/___/_______

BETWEEN

_______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______, (hereinafter called the First Party)

AND

_______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______, (hereinafter called the Second Party).

The expression of both the parties wherever they occur in the body of this agreement shall means, and include their respective heirs, legal representative, administrators, executors, successors, and assigns etc.

Whereas the First Party is the exclusive owner of _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______

The aforesaid property is free from all kind of encumbrances such as prior sale, gift, mortgage, litigation, dispute, stay order, attachment, notification, acquisition, charge, lien, surety etc.

And whereas the First Party for his/her/their bonafide needs and requirements has agreed to sell the afore said property for a total sale consideration of ` _________ (Rupees _______________________________________________________ ONLY) and Second Party has agreed to purchase the same on the following terms and conditions of this agreement:-

NOW THIS AGREEMENT WITNESSETH AS UNDER:-

1.    That out of the total sale consideration, ` _____________ (Rupees ______________________________________________________________________) as earnest money has been received by the First Party from the Second Party.
 



1.a  That an amount of ` _______ _______ ___ (Rupees _______ _______ _______ _____________________________________) as part payment against the sale of the said property will be paid by the second party to the first party latest by _______ _______ 

2.    The balance sale consideration amount of ` ____________ (Rupees _________ ______________________________________________________________________) will be paid by the Second Party to the First Party latest by ____________________


3.    That all expenses such as electricity, water, House-tax, Municipal Corporation Taxes, society charges or any other levy by any statutory body or Government Authority and all dues/liabilities up to the date of finalisation of this deal shall be borne/paid by First Party thereafter the same will be paid by the Second Party. 

4.    That the  First Party shall not create any charges over the said property after the execution of this agreement and First Party has no right to sell it to any body else after the signing of this agreement.

5.    That all the expenditure regarding registration shall be borne by the Second Party. However the TDS amount @ 1%  (if applicable) will be deducted by Second Party from the sale Deed’s amount and the same will be deposit by Second Party and copy of paid challan will be handed over to First Party.

6.    That Second Party has agreed to purchase the said property from First Party on the condition that First Party undertake/s to bear all losses which may be suffered by Second Party, in case the ownership title of First Party in respect of the said property is found to be defective.

7.    That all the original ownership papers and vacant physical possession of the said property will be handed over by the First Party to the Second Party at the time of full and final payment and registration of necessary sale papers in favour of Second Party or in favour of his/her/their nominee or in favour of any prospective buyer/s.

8.    If First Party could not execute the sale deed/necessary sale papers in favour of the Second Party or in favour of his/her nominee in terms of this agreement then the First Party will pay double amount of the earnest money to Second Party and if Second Party fails to pay the balance consideration amount within the due date then the amount of earnest money will be forfeited by First Party.

9.    That First Party has given his/her/their consent to the above condition without any reservation.

10.  That both the parties hereby further confirm and declare that this agreement is IRREVOCABLE and shall be final and binding on them, their heirs, executors, administrators and assigns etc.
 




11.  That both the parties will pay a commission of ____% each to M/S 




IN WITNESSES WHEREOF, both the parties have put their respective hands on this agreement in presence of the following witnesses.






WITNESSES:-
1.                                      First Party (SELLER)









2.                                      Second Party (PURCHASER)                                 

 



R E C E I P T

Received a sum of ` _______________ (Rupees _______________________) from _______ _______ _______ _______ _______ _______ _______ _______ as earnest money against the sale of _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ _______ as per agreement to sell and purchase dated ___/____/____


Hence, I have executed this receipt at New Delhi on this ___/___/______in the presence of witnesses mentioned below:-







WITNESSES:-                                EXECUTANT
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