The buyer signs a loan agreement with the bank and payment requests indicating the amount to be paid and the details of the beneficiary, etc. (h) Death of a buyer / seller: If God forbids it and something happens to the buyer or seller before the end of the real estate transaction. In this case, the legal heirs of the buyer and seller should have the same rights as those of a buyer or seller. Either the money from the tokens is refunded, or the agreement is concluded by legal heirs. This clause is applied if the difference between the signing of the memorandum of understanding and the deed of sale is greater than one month. (e) Mention the contract of sale/ instrument of sale that will be executed later: if you issue a receipt of payment or if you execute a statement of intent, mention that you currently pay only one token money. An agreement will be signed later and will mention the timing of the execution of the sales contract / instrument of sale, as I mentioned in the previous point. (d) Sales Contract: A sales contract is a final legally enforceable legal document. It is legally binding on all parties and confers essential rights on the parties. When a party violates the terms of the sales contract, it is a legal offense. In many cases, the money from the tokens is paid at the time of execution of the sales contract. On the basis of this, the buyer requests a loan for the construction of housing. As a rule, the sales contract is executed on buffer papers corresponding to 0.1% of the value of the sales contract.
In a few cases, I have advised my clients to register the sales contract similar to the deed of sale, especially for risky transactions. Each stamp duty paid to the civil registry office for the registration of the contract of sale is adapted to the time of execution of the deed of sale. (i) Cookies: It is important to sign at least 2 witnesses on the payment note / MOU. In many cases, the buyer and seller sign an agreement without witnesses. In the event of a dispute, it is difficult to prove the authenticity of the declaration of intent. If the legal valuation of the property is not made before the verbal agreement of the sale taking into account the price, copies of the titles and supporting documents of the seller must be recovered by the seller and legal advice must be obtained from a real estate lawyer. The sales contract is concluded if you want to create a charge for the property. The seller only accepts the sales contract if you pay 10% or more of the value of the property. The sales contract will be the first document instead of the declaration of intent when the property is mortgaged and the buyer/buyer has to pay the seller`s bank to release the document. If it is a statement of intent, the payment can be between 3 and 5% of the sale price, including the advance on tokens….