AGREEMENT FOR SALE OF PROPERTY

An agreement made at .................... on this .............. day of………20……between A B of………. (hereinafter called the vendor) of the one part and CD of……….(hereinafter called the purchaser) of the other part:

Whereby it is agreed as follows: —

• The vendor agrees to sell and the purchaser agrees to purchase the property known as…………and situated at……with appurtenance thereof and more fully described in the schedule hereto…………free from encumbrances.

• The purchase-money shall be Rs………The purchaser having paid to the vendor the sum of Rs…….part of the said purchase-money as a deposit (the receipt of which sum the vendor hereby acknowledges) shall pay the residue of the said purchase-money to the vendor on the day of …… when the purchase will be completed.

• If from any cause other than the wilful default of the vendor the purchase is not completed on or before the purchaser shall pay to the vendor interest on the residue of the purchase-money at the rate of……per cent, per annum from that date

• The abstract of title will be delivered within a fortnight from the date hereof. The vendor's rule shall begin with a sale, dated…… and the purchaser shall not enquire into or require the production of the earlier title.

• All requisitions or objections not made within ten days after delivery of the abstract shall be deemed to be waived, time in this respect being of the essence of the contract.

• The purchase shall be completed on the …..day of……….20…….when the balance of the purchase-money shall paid and the purchaser shall be entitled to the delivery of a proper sale deed executed by the vendor.

• All expenses for preparation of the sale-deed and all expenses account of stamp and registration shall be borne by purchaser.

• Any error or mis-statement or omission in the description of the property shall not annul the sale nor shall any compensation allowed in respect thereof.

• The rents and profits of the property shall be received by or belong to the vendor and all outgoings and rates and taxes shall be discharged by him up to the time hereinbefore fixed for completion of the sale, and as from that date all outgoings shall be discharged by and the rents and profits shall belong to the purchaser. The purchaser shall not be entitled to possession of the property and to rents and profits
  thereof until the completion of the sale.

• If the purchaser shall fail to comply with any of the conditions of this agreement, his deposit of Rs………..shall be forfeited and the vendor shall be at liberty to re-sell the property and any deficiency arising on re-sale and expenses incurred by him for effecting the resale shall be paid by the purchaser as liquidated damages and any excess in price on resale shall belong to the vendor.

The Schedule above referred to containing description of the property sold.

In witness whereof the parties hereto have set their signatures on this ………day of…… 20……….in the presence of witnesses.

WITNESSES

1 ................. Signature of the vendor …………………………

2 ...................................... Signature of the purchaser………………………