Agreement Letter for Sale of Property

An Agreement Letter for Sale of Property is a formal document outlining the terms and conditions agreed upon between a seller and a buyer for the sale of real estate property. It acts as a preliminary agreement before the final sales deed is executed, detailing the transaction’s specifics, payment terms, and responsibilities of both parties.

Below are two sample Agreement Letters for the Sale of Property: one for the sale of land and another for the sale of a house.

Agreement Letter for Sale of Property sample 1

Agreement Letter for Sale of Land

[Seller’s Name]
[Seller’s Address]
[City, State, ZIP Code]
[Date]

[Buyer’s Name]
[Buyer’s Address]
[City, State, ZIP Code]

Subject: Agreement for Sale of Land

Dear [Buyer’s Name],

This Agreement for the Sale of Land (the “Agreement”) is entered into on [Date] between [Seller’s Name] (the “Seller”) and [Buyer’s Name] (the “Buyer”). This Agreement outlines the terms and conditions under which the Seller agrees to sell, and the Buyer agrees to purchase, the land described below.

1. Description of Land

The Seller agrees to sell the following land to the Buyer:

Location: [Land Address, e.g., Plot No. 25, Green Valley, Springfield]
Size: [e.g., 2 Acres]
Plot Identification Number: [Details]
Boundaries: [Describe physical boundaries or reference survey details]

2. Sale Price

The agreed sale price for the land is $[Total Amount].

3. Payment Terms

Deposit: The Buyer agrees to pay a non-refundable deposit of $[Deposit Amount] upon signing this Agreement.
Balance: The remaining amount of $[Remaining Amount] will be paid in the following installments:
- $[Installment Amount] on [Date].
- Full payment by [Closing Date].

4. Conditions Precedent

This Agreement is subject to the following conditions:

The Seller shall provide clear and marketable title to the land, free from all encumbrances or disputes.
The Buyer shall be responsible for conducting their due diligence, including a survey and legal verification of the title.

5. Transfer of Ownership

The Seller agrees to execute the deed of transfer and hand over all necessary documents to the Buyer upon receipt of the full payment. Ownership shall be transferred to the Buyer by [Closing Date].

6. Buyer’s Responsibilities

The Buyer agrees to:

Bear all registration and stamp duty costs associated with the transfer.
Ensure timely payments as per the schedule.

7. Termination Clause

If the Buyer defaults on payment, the Seller may terminate this Agreement and retain the deposit.
If the Seller fails to transfer ownership as agreed, the Buyer is entitled to a refund of all payments made.

8. Governing Law

This Agreement is governed by the laws of [State/Country].

Signatures

Seller’s Name: ___________________________
Signature: _________________________________
Date: _____________________________________

Buyer’s Name: ___________________________
Signature: _________________________________
Date: _____________________________________

Agreement Letter for Sale of Property sample 2

Agreement Letter for Sale of House

[Seller’s Name]
[Seller’s Address]
[City, State, ZIP Code]
[Date]

[Buyer’s Name]
[Buyer’s Address]
[City, State, ZIP Code]

Subject: Agreement for Sale of House

Dear [Buyer’s Name],

This Agreement for the Sale of House (the “Agreement”) is entered into on [Date] between [Seller’s Name] (the “Seller”) and [Buyer’s Name] (the “Buyer”). This Agreement sets forth the terms for the sale of the residential property described below.

1. Description of Property

The Seller agrees to sell, and the Buyer agrees to purchase, the following property:

Address: [Property Address, e.g., 123 Maple Street, Springfield]
Property Type: [e.g., 4-Bedroom Detached House]
Plot/Registration Number: [Details]
Size: [e.g., 3,000 sq. ft.]

2. Sale Price

The agreed sale price for the property is $[Total Amount].

3. Payment Terms

Deposit: The Buyer agrees to pay a deposit of $[Deposit Amount] upon signing this Agreement.
Balance: The remaining balance of $[Remaining Amount] shall be paid as follows:
- $[Installment Amount] on [Date].
- Final payment to be made by [Closing Date].

4. Conditions Precedent

This Agreement is contingent upon:

The Seller providing a clear and marketable title to the property.
The Buyer completing a satisfactory property inspection by [Inspection Deadline].
Both parties agreeing on the results of the inspection.

5. Possession

Possession of the property shall be handed over to the Buyer upon full payment of the purchase price and signing of the final sales deed.

6. Additional Terms

The Seller warrants that the property is free from any liens or encumbrances.
The Buyer shall bear all registration, stamp duty, and legal costs associated with the transfer.