SALE AGREEMENT
This Agreement is made on this _________________ Between XXX Property
Management Company (hereinafter referred to as the “seller”) and _____________
(hereinafter referred to as the “purchaser”) together referred to as “parties”.
WHEREAS the seller has agreed to sell and the purchaser has agreed to buy the
property described hereinbelow and be bound by the following terms of the sale; –
1. PROPERTY.
Parties herein agree that the property being sold/bought is a house located at
____________. (Hereinafter referred to as the “property”).
2. PURCHASE PRICE.
The agreed purchase price is $_____________.
The purchase price is to be paid in __________ installments on the 25 th of every
month to the following bank details; –
(INSERT BANK DETAILS)
3. HANDOVER ON PAYMENT.
Upon confirmation of the payment amount having been received, the seller shall
transfer all the clientele and other required information to the purchaser within five
days after confirmation.
4. WARRANTIES.
The seller warrants that; –
i. They have the full authority to enter into and execute this Agreement.
ii. To the best of their knowledge, there are no ongoing or anticipated claims
against the company.
The Purchaser warrants that; –
i. They have the full authority and capacity to execute and agree to the terms of
this Agreement.
ii. They have the funds available to complete the purchase entailed under this
Agreement.
5. DISCLOSURE.
Upon reasonable request by the purchaser, the seller agrees to make available
books, records, and documents of accounts and access to the property.
The seller will disclose any query forwarded by the purchaser regarding the
company.
6. DISPUTE RESOLUTION.
In case of any dispute or conflict that arises from the non-performance of the terms
in this Agreement, parties mutually agree to negotiate and resolve the dispute. If the
same fails, it shall be referred to a mediator.
7. TERMINATION.
Parties may terminate this Agreement if: –
i. The cheque issued by the purchaser fails to be cleared by the Bank
ii. If the seller fails to transfer all the records on the clientele within five days
from the cheque being cleared by the Bank.
iii. After thirty days from signing this Agreement, the parties have not met any
terms.
8. SEVERABILITY.
Suppose a provision of this Agreement is found by a court of competent jurisdiction
to be invalid and unenforceable. In that case, it will be severed from the Agreement,
and the other provisions will continue and not be affected.
9. EXPENSES.
Each party shall bear its costs in fulfilling this Agreement’s terms.
10. GOVERNING LAW.
The terms of this Agreement will be governed by the Laws of the State of Texas.
11. WAIVER.
A waiver by any of the parties herein of any of their rights in this Agreement does not
infer a further waiver of that right or any other right provided in this Agreement.
In the performance of the conditions in this Agreement, time is of the essence.
IN WITNESS WHEREOF, the parties have signed this Agreement on the date
indicated hereinbelow.
SELLER; –
Signature:
__________________________
Date:
______________________________
Email Address:
_____________________
PURCHASER; –
Signature:
__________________________
Date:
_______________________________
Email Address:
_____________________
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