Posts

Showing posts with the label Agreement for sale

What are the clauses one must check in a flat sale agreement in India?

  Below are the few important clauses to check in a sale agreement Title: Generally, property sale agreements are executed under the following titles Agreement of sale Agreement for sale Agreement to Sell Sale cum construction Agreement: Choose the right title for your agreement Date & place: The 1st line of agreement must have date and place of the agreement execution. Parties (Seller & Buyer) Seller’s name, age, address, and pan number Buyer’s name, age, address, and pan number Property schedule Property schedule is the description of the property. Generally, a property schedule has three sub-schedule. They are schedule A, Schedule B, and Schedule C Schedule A: Land conversion details (from agricultural to residential). Land survey number and measurement of the land where this apartment is built Schedule B: Area of undivided land share Schedule C: Super buildup, build up, and carpet area of your flat Mother deed: Details of how seller acquired the property. Details include mo

What is an agreement to sale?

Image
An  “Agreement To Sale”  is a contract between seller and buyer, where seller agrees to sell a property to buyer at future date, subject to terms and conditions mentioned in the agreement. It is an important document in the process of sell and purchase of a property. It contains terms & conditions agreed and signed between the parties to sell a property at future date. An Agreement To Sale is an important document for Home loan application. It is mandatory to frank the agreement. The franking cost is decided by your bank, generally, the franking cost ranges from Rs. 200 to 0.1% of selling price. Agreement To Sale is not a Sale deed and it doesn’t convey the ownership. it is just a preliminary agreement with agreed terms and conditions to execute a sale deed at future date. Step by step procedure to execute an “Agreement To Sale”: Step 1:  Below are the list of documents require from seller to prepare an “Agreement To Sale” Absolute Sale deed Khata certificate & extract Latest t