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    Agreed and Signed By: Seller: Purchaser

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    niteshacharya
    This memorandum documents the agreement for the sale of property between Mr. Nilesh Kumar Ranchhodbhai Pistolwala and Mr. Nitesh Ishwar Acharya. Mr. Pistolwala agrees to sell Flat C502 in Maha mangalya Residency, Bharuch for INR 23 lakhs. Mr. Acharya will pay a down payment of INR 80,000 within 7 days and the remaining amount within 90 days, at which point the final sale agreement will be signed. The memorandum outlines various terms regarding expenses, damages, and penalties if either party backs out of the agreement.

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    Agreed and Signed By: Seller: Purchaser

    Uploaded by

    niteshacharya
    43 views1 page
    This memorandum documents the agreement for the sale of property between Mr. Nilesh Kumar Ranchhodbhai Pistolwala and Mr. Nitesh Ishwar Acharya. Mr. Pistolwala agrees to sell Flat C502 in Maha mangalya Residency, Bharuch for INR 23 lakhs. Mr. Acharya will pay a down payment of INR 80,000 within 7 days and the remaining amount within 90 days, at which point the final sale agreement will be signed. The memorandum outlines various terms regarding expenses, damages, and penalties if either party backs out of the agreement.

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    This memorandum documents the agreement for the sale of property between Mr. Nilesh Kumar Ranchhodbhai Pistolwala and Mr. Nitesh Ishwar Acharya. Mr. Pistolwala agrees to sell Flat C502 in Maha mangalya Residency, Bharuch for INR 23 lakhs. Mr. Acharya will pay a down payment of INR 80,000 within 7 days and the remaining amount within 90 days, at which point the final sale agreement will be signed. The memorandum outlines various terms regarding expenses, damages, and penalties if either party backs out of the agreement.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    43 views1 page

    Agreed and Signed By: Seller: Purchaser

    Uploaded by

    niteshacharya
    This memorandum documents the agreement for the sale of property between Mr. Nilesh Kumar Ranchhodbhai Pistolwala and Mr. Nitesh Ishwar Acharya. Mr. Pistolwala agrees to sell Flat C502 in Maha mangalya Residency, Bharuch for INR 23 lakhs. Mr. Acharya will pay a down payment of INR 80,000 within 7 days and the remaining amount within 90 days, at which point the final sale agreement will be signed. The memorandum outlines various terms regarding expenses, damages, and penalties if either party backs out of the agreement.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 1

    Memorandum for Sale of Property

    This Agreement to sell is made on 28th day of Feburary 2018


    By Mr. Nilesh Kumar Ranchhodbhai Pistolwala(hereinafter called the seller) or the first party.
    AND
    Mr. Nitesh Ishwar Acharya (hereinafter called the purchaser) or the second party.

    Whereas the First party is the absolute owner in possession of property: Flat no C502 of Maha mangalya
    Residency, bearing R.S. No. 169/7, situated near Zadeshwar Chokdi, Bharuch.

    That the first party is agree to sell the said property to the 2nd party with all his rights pertaining to the said
    property and with the responsibility of all other heirs and 2nd party has agree to purchase for a total
    consideration of INR. 23.00 Lacs/- (Twenty Three Lac only) on these terms and conditions:-

    1. And whereas the first party have assured the second party that the said property has neither
    mortgaged nor attached in any bail as surety in any court or Financial Institution or Corporation, nor any
    agreement to sell has been made with any other party prior to this agreement.

    2. That the purchaser has agreed to pay to the said seller the amount of INR. 80000/- (Eighty
    Thousand only) as earnest money against the said property within 7 days from the date of signing this
    memorandum, failing which this memorandum of sale is deemed cancelled. The duration of 7 days can be
    revised to a mutually agreed and communicated date between the parties.

    3 That the remaining shall be paid by the purchaser within 90 days, from the date of signing of this
    document. The final agreement of sale will be signed immediately after the clearing of all dues agreed
    under this memorandum. The duration of 90 days can be revised to a mutually agreed and communicated
    date between the parties

    4. That the said property/plot is free from all sorts of encumbrances and there is not charges over it
    like, sale, gift, mortgage, lease, lien, attachment, demands, etc.

    5. That the seller shall get the said plot /property transferred in the name of purchaser or his
    nominees and fulfils all requirements of concerned authorities.

    6. That the expenses on the deed of sale, NOC etc. of the said property/plot shall be borne by the
    purchaser and all the expenses on the sale deed, and the other final papers, and documents of the said
    property shall be borne by the said purchaser.

    7. That the expenses on account of transfer fees to be paid to the Maha Mangalya co-operative
    housing society of the said property/plot shall be borne by the seller.

    8. That in case the said seller backs out from his bargain and fails to fulfil all the formalities of transfer
    of the said property then the said seller shall be liable to pay the amount of earnest money (INR. 80000/-
    Eighty Thousand Only), if paid by the purchaser, in full, immediately upon the demand by the purchaser
    along with the penal interest calculated from the date of actual money transfer up to the date of demand
    from the purchaser. The rate of interest to be considered for calculation shall be 8% per year.

    9. That in case the said purchaser backs out from his bargain and fails to fulfil all the formalities of
    transfer of the said property then the said seller shall be liable to pay the amount of earnest money (INR.
    80000/- Eighty Thousand Only), if paid by the purchaser, after deduction of applicable loss of per month
    rental income from the said property, immediately upon the demand by the purchaser. INR. 6500/- (Six
    Thousand five hundred only) per month shall be considered as present rate of rental income of the said
    property.

    10. That the accessories like fan, tubelight and other accessory as discussed are included in the
    above stated cost and are in healthy condition and will handed over as in working condition.

    11. That the second party found or come in coordination with the other charges/ Fines/ Fees which are
    liable to post-purchases, after the procurement then the first party will be liable to pay the entire amount.

    12. That the civil damages in the flat are to be rectified by the first party, if not the repair cost to be
    deducted in the above said amount

    Agreed and Signed by:

    Seller: Purchaser:

    Date : Date :
    Nilesh Kumar Ranchhodbhai Pistolwala Nitesh Ishwar Acharya
    Ahmedabad Bharuch

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