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The Real Estate Purchase Agreement with Seller Financing is a specialized legal instrument used in Indian property transactions where traditional bank financing is either unavailable or undesirable. This document type combines elements of both a property sale agreement and a financing agreement, making it particularly useful in situations where buyers seek alternative financing options or sellers wish to generate ongoing income through interest payments. The agreement must comply with various Indian laws including the Transfer of Property Act 1882, Registration Act 1908, and RERA 2016, while also addressing state-specific stamp duty and registration requirements. It's commonly used in both residential and commercial property transactions and includes crucial elements such as property details, payment terms, security arrangements, and default provisions. The seller financing component typically involves a structured payment plan with specified interest rates, making this document more complex than standard purchase agreements.

1. Parties: Identification and details of the Seller and Buyer, including their legal names, addresses, and registration details if applicable

2. Background: Context of the transaction, including brief description of the property and parties' intention to enter into a seller-financed purchase arrangement

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the property including address, boundaries, registration details, and any included fixtures/fittings

5. Purchase Price and Payment Terms: Total purchase price, down payment amount, and detailed structure of seller financing including interest rate, payment schedule, and term

6. Security Arrangements: Details of mortgage or other security arrangements to secure the seller financing

7. Conditions Precedent: Conditions that must be satisfied before the agreement becomes effective

8. Representations and Warranties: Statements of fact and guarantees by both parties regarding their capacity, property condition, and title

9. Seller's Obligations: Specific obligations of the seller including property maintenance until closing, document delivery, and financing terms

10. Buyer's Obligations: Specific obligations of the buyer including payments, property maintenance after possession, and compliance with financing terms

11. Closing Process: Details of the closing procedure, including document execution, registration, and transfer of possession

12. Default and Remedies: Consequences of default by either party and available remedies

13. Governing Law and Dispute Resolution: Applicable law and method of resolving disputes

14. Notices: Process and addresses for serving formal notices under the agreement

15. General Provisions: Standard contract clauses including amendments, severability, and entire agreement