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Simple Real Estate Sales Contract
"I need a Simple Real Estate Sales Contract for the sale of my residential property in Mumbai to an individual buyer, with completion scheduled for March 2025 and including provisions for a 10% initial deposit."
1. Parties: Full legal names and addresses of the seller and purchaser
2. Background: Context of the transaction and brief history of the property ownership
3. Definitions: Key terms used throughout the agreement
4. Property Details: Comprehensive description of the property being sold including exact location and measurements
5. Sale Consideration: Purchase price and payment terms including deposit and balance payment schedule
6. Mode of Payment: Specified methods of payment and account details
7. Possession: Terms and timing of property possession transfer
8. Title and Ownership: Seller's warranties regarding clear title and right to sell
9. Registration: Obligations regarding registration of the sale deed and associated costs
10. Representations and Warranties: Standard warranties by both parties regarding their capacity and authority
11. Costs and Expenses: Attribution of various transaction costs including stamp duty and registration fees
12. Governing Law: Specification of Indian law as governing law and jurisdiction details
1. Conditions Precedent: Specific conditions that must be met before completion, used when there are pending approvals or clearances
2. Property Inspection: Details of property inspection rights and process, used when buyer requires specific inspection provisions
3. Encumbrances: List of existing encumbrances and plan for their discharge, used when property has existing mortgages or liens
4. Third Party Rights: Details of any existing tenancies or other third-party rights, used when property is tenant-occupied
5. Tax Matters: Specific tax-related provisions, used when there are complex tax implications
6. Force Majeure: Provisions for unforeseen circumstances, used in regions prone to natural disasters or uncertain conditions
7. Property Management: Interim management provisions, used when there's a gap between agreement and completion
1. Property Description Schedule: Detailed technical description of the property including boundaries and measurements
2. Title Documents Schedule: List of all title documents and their chronological chain
3. Payment Schedule: Detailed breakdown of payment installments and timing
4. Encumbrance Schedule: List of existing encumbrances and status of each
5. Inventory Schedule: List of fixtures and fittings included in the sale
6. Compliance Schedule: List of required regulatory approvals and their status
7. Outstanding Dues Schedule: Details of any pending utility bills, taxes, or maintenance charges
Authors
Real Estate
Construction
Property Development
Banking and Finance
Legal Services
Property Investment
Real Estate Investment Trusts (REITs)
Urban Development
Housing
Commercial Property
Legal
Real Estate
Compliance
Property Management
Operations
Documentation
Finance
Risk Management
Asset Management
Acquisitions
Real Estate Agent
Property Lawyer
Legal Counsel
Property Manager
Real Estate Developer
Compliance Officer
Contract Manager
Property Consultant
Real Estate Broker
Title Officer
Property Assessor
Real Estate Investment Manager
Legal Administrator
Transaction Coordinator
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