A property sales contract is an agreement in which the seller hands over the property to the buyer for an agreed price which is fixed and non negotiable. The terms and conditions related to the sale of the property are mentioned in this contract.
Sample Property Sales Contract:
This agreement is made between the SELLER called Mr. Henry Williams and the BUYER called Mr. Richard Mark, dated 17th October, 2010 at 56, Tellsons street, CA.
The seller runs a real estate property business in CA.The property under discussion is situated at 12-wells estate, CA. It was bought by the seller in 2008 and is up for sales.
The buyer agrees to buy the above mentioned property from the seller.
Buyer’s contact information:
Address: 234, East hill colony, CA
Property occupies 1500 Esq. Area and costs a total of $1800.The Payment shall be done as follows:
First cash down payment will be done one week before the commencement of the contract. Cash down payment will be $500.
The second part will be made through installments which will be made on the first week every 3 months within a week.
Rate of interest: 9%
Effective date of possession: 2nd November, 2010
Terms and conditions:
- The buyer will be responsible to keep the property in good condition.
- The seller shall hold the ownership till the full payment is made through installments.
- The buyer will pay for the maintenance, repair and other damage costs.
- The seller will hold the right to inspect the property once every month with written notice sent to the buyer in advance.
It is therefore agreed between both the parties to abide by the terms of the contract:
Henry Williams (seller)
Richard Mark (buyer)