AGREEMENT TO SELL

THIS AGREEMENT TO SELL is made on this __ day of Feb 2015 by and between:

Mr. _______________ son of  _________________ resident of  ______________________ (hereinafter referred to as the Seller) of the first part, which expression shall also include his successors, legal heirs and assignees, etc.

AND

Mr. __________________ son of ___________________ resident of _________________ (hereinafter referred to as the Purchaser) of the second part, which expression shall also include his successors, legal heirs and assignees, etc

WHEREAS:

The Seller is the absolute and undisputed owner of all that property measuring ________ Marlas ( ____ Square Feet), bearing property no. ________ situated at _________________ Lahore marked as _______ in the map annexed with this agreement (herein after referred to as the Property).

 

The Seller has desired to enter into an arrangement for sale of the Property unto the Purchaser subject to terms and condition as contained herein.

 

The parties hereto have agreed and consented that this Agreement to Sell be effected between them and duly documented.

 

NOW THEREFORE THIS DOCUMENT WITNESSES and the terms of this Agreement are as under:

 

The purchase price of the Property has been fixed at Rs. 2,100,000/-(Rupees Twenty-One Lacks Only). The same is to be paid by the Purchaser, unto the Seller, as under:

 

Rs. ___________/-(Rupees ____) on the signing of this Agreement.

 

The entire balance amount of Rs._________ (Rupees ______________ only) on or before forty five days from the date of the execution of this Agreement.

 

That the Seller has, on the signing of this Agreement, received the sum of Rs. ______________/- (__________________ vide ___________________ drawn on ___________.

 

The Seller assures that:

• it has  complete and absolute title of the Property.
• the property has  no adverse claim or interest there­on whatsoever nor the same is subject to any litigation, encum­brance or charge etc.
• On payment of the balance amount by or within the stipulated time, the Seller shall convey the Property and deliver vacant possession thereof alongwith its clean title as well as all other relevant documents unto the Purchaser or its nominee. In addition thereto the Seller, on the request of Purchaser, shall perform such other reasonable acts including but not limited to the appointment of an Attorney, of the choice of Purchaser holding irrevocable General Power of Attorney, on behalf of the Seller as would facilitate the transfer of valid title and completion of the sale transaction.
• In case the Purchaser does not make payment of the balance amount of Rs. _________/- (Rupees ___________________ only) as per terms hereof, the Seller shall have the right to forth­with revoke the instant Agreement and confiscate the money already paid.

Provided that in case the Seller desires to rescind this Agreement prior to its completion, for any reason whatsoever, then it shall return the sum already paid along with an equal amount as penalty unto the Purchaser, total in all rupees four million only, on which the entire arrange­ment shall stand abandoned.

Save as above, in case if prior to completion of the transaction the Purchaser finds any defect in the title of Seller or it is revealed that the Property is not marketable on account of any valid reason then he shall accordingly communicate the same to the Seller; if the defect afore referred is not remedied before the expiry of period mentioned herein than the Seller, on request, shall rescind this Agreement and return the principal amount of Rs. ________/- (Rupees ________) to him.

IN WITNESS WHEREOF the parties hereto have signed this Agree­ment on the date and year aforementioned.

The Sellers                                                        The Purchaser

Signature:                                                          Signature:

__________________                                       ______________________

NI.C no.___________                                      N.I.C. no.______________

Witnesses

1. __________________

   NIC no._____________

2. __________________

  NIC no. ____________