Real estate Assignment PDF

Added on - Oct 2021

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Real estate
Institution affiliation
Contract for the sale of a residential house
The agreement made day of , between , the vendor and,
the vendee, whose address is (number and street)
(city) (state ) (zip) in regard of the real estate property in the city of
, county of .The following is the description of the property.
1.The vendee should pay $ 700, 000 cash for the property.
The cash down payment after entering into the agreement is $70, 000
The balance of the purchase price is a total amount of $630,000 which bears interest
of 10% from the day of agreement. To be paid within 12 months or the unpaid
amount at an annual rate of 8% can be paid in installments of $15000, or more, on the
3rd day of the following months starting 30thday of the first month, and goes on up to
when the balance is completely paid.
3. Tenancy settlement is 30 days from the exchange date.
The whole process should be completed before 30 days and within this time, the
vendor holds the legal title for security on the balance on the purchase price.
4. The vendee agrees that a large Panasonic TV attached to the lounge wall is to be included
in the sale.
5. A deposit of 10% is payable before 5pm on the 5thbusiness day.
The deposit holder is the vender’s solicitor
6. the vendor agrees to the following conditions
Property condition: To keep the property in a good condition and repair any damaged
part of the property. Not to demolish the buildings: restore damaged buildings and
comply with the laws affecting property in the country.
Indemnity: should appear and defend any actions or proceedings which could affect
the security and rights of the vendor: should also pay for all costs and expenses.
Conveyance of title: the vendor is to surrender the title deed after the vendee
completes all the payments to be made. Upon conveyance, the vendor should ensure
that the vendee agrees to the full performance of this agreement.
Cure of default, if one of the party defaults to the performance of the agreement. For
example, if the vendor defaults to payment of the underlying obligations, the vendee
could credit the payments against the principal and interest due under the agreement.
Or else, recover the amount from the vendor.
County of
On this day of
Before me, (name of witness)
Appeared in person (name of principal)
Personally, known to me being the person whose name is subscribed to the instrument and
acknowledged to me.
Signature of witness
(Nelson, and Whitman, 1977)
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