Now at IOUX you can create your Own Agreement to Sell online within few minutes by using our legally vetted pre-drafted Template of Agreement to Sell. You can use our Agreement as it is, or you can also edit the same as per your need. We will be providing you the soft copy of the Agreement to Sell along with the e-Stamp Paper of requisite amount and e-Signature via NSDL (Aadhaar OTP Based).
What is an Agreement to Sell?
An Agreement to Sell is considered as an important document in the process of the sale or purchase of any immovable property. This agreement states the legal terms and conditions mutually agreed upon between the concerned Buyer and Seller and binds them to the terms agreed therein. An Agreement to Sell is the core document on basis of which the Sale deed is drafted.
Important Clauses in an Agreement to Sell
As every legal document comprise of legal clauses that carry significant meaning. These clauses direct a lawful course of action Having the following clauses in the Agreement to Sell is to ensure that there is no issue in the future between all the concerned parties: -
- Names of the parties with age, and their residential addresses.
- Date and place of execution of the agreement.
- Exact address and description of the property.
- Brief narration with details of documents on how the seller got the property.
- Competence of parties to enter into the agreement.
- Declaration by the seller that the property is not subject to any encumbrance, government acquisition, etc.
- Consideration amount, and payment details.
- Clearance of Outstanding Dues
- Timelines for various acts to be completed and responsibilities.
- Period of completion of transaction.
- Expenses to be met and who will meet the cost of transfer.
- Penalty and forfeiture clauses in case of default.
- Conditions for delivery of possession.
Important things to consider while drafting the Agreement to Sell
- Introduction of the parties must be correct
- Correct description of the Property
- Clarity of Titles
- How much amount need to be paid and the schedule of payment
- Date of delivery of Possession.
- Rights and Liabilities of the parties
- Right to call of the deal.