Agreement for Sale of a House
An agreement of sale constitutes the terms and conditions of sale of a property by the seller to the
buyer. These terms and conditions include the amount at which it is to be sold and the future date of
full payment.
This draft of ‘Agreement for Sale of a House’ was downloaded from LawRato.com – Consult the
best Property lawyer at http://lawrato.com/property-lawyers
Draft of Agreement for Sale of a House
This Agreement of sale made at .................. on this.............. day of ................... 20___, 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. up to 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.
