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Contract of Sale of Real Property

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CONTRACT OF SALE

THIS CONTRACT OF SALE is made on ________ (the "Effective Date").

BETWEEN

________, having its registered business address at the following:

________

(hereinafter referred to as the "Vendor") which expression shall, where the context so admits, include the vendor's representatives assignees of the one part;

AND

________, having its registered business address at the following:

________

(hereinafter referred to as the "Purchaser") which expression shall, where the context so admits, include the vendor's representatives assignees of the other part.

The Vendor and the Purchaser are jointly referred to as the "Parties".


WHEREAS
:

a. The Vendor desires to sell the Property to the Purchaser.

b. The Purchaser has agreed to buy the Property from the Vendor.


IT IS HEREBY AGREED AS FOLLOWS:


1.
CONTRACT OF SALE

a. In pursuance of this contract, the Vendor agrees Purchaserto sell outright and the Purchaser agrees to buy the Property subject to the terms and conditions of this contract.

b. The Vendor warrants that it possesses good and valid title to the Property and is able to sell.


2. PROPERTY

The Property consists of the following:

________ (the "Property")


3. PURCHASE PRICE

The Purchase Price which is the consideration for the sale of the Property shall be ₦________ (________) (the "Purchase Price").


4.
TERMS OF PAYMENT AND POSSESSION

a.The Purchase Price shall be paid in equal installments.

b.The Purchaser shall pay the sum of ₦________ (________) every week for a period of ________ (________) weeks.

c. The above payment shall be made in cash.


5. DEDUCING TITLE

a. The Vendor's title to the Property has been deduced to the Purchaser before the date of this contract.

b. The Purchaser is deemed to have full knowledge of the title and is not entitled to raise any objection, enquiry or requisition in relation to it.


6. VACANT POSSESSION

The Property will be sold with vacant possession on completion.


7. PHYSICAL CONDITION OF PROPERTY

The Vendor does not make any claims or promises about the condition or value of any of the property included in this sale. The Purchaser has inspected the Property and relies on this inspection and any rights which may be provided elsewhere in this contract.


8. INSPECTION OF THE PROPERTY

The Vendor agrees to permit the Purchaser to inspect the Property at any reasonable time before closing.


9. OBLIGATION OF THE
VENDOR

a. The Vendor shall sell the Property free from encumbrances other than the following:

I. any matter which the Vendor does not and could not reasonably know about;

II. any matters which may be discovered by inspection of the Property before the date of this contract;

III. any matters, other than charges, disclosed or which would have been disclosed by the searches and inquiries which a prudent Purchaser would have made before entering into this contract.

b. The Vendor covenants with the Purchaser that the Property hereby sold and transferred to the Purchaser is completely free from all mortgages, charges and encumbrances, defect in title or adverse third party rights.


10. OBLIGATIONS OF THE
PURCHASER

a. The Purchaser shall do the following:

I. pay the Purchase Price to the Vendor in accordance with clause 3 above;

II. be liable to the appropriate Government authorities for the payment of the payment of all applicable taxes, costs, levies and charges due and payable in respect of this transaction;

III. in the event that any payments required to be made by the Purchaser remains unpaid after the payment becomes due (save for delay in payment resulting from the mechanics of bank transfer), the Vendor shall have the right to rescind this Contract.

b. The Purchaser shall perfect the title without any hindrance from the Vendor, and the Vendor shall provide any relevant documentation and information that may be necessary in order to perfect the title.


11. EXECUTION OF A DEED OF ASSIGNMENT

In this contract, the Vendor agrees to provide and the Purchaser agrees to accept a deed of assignment which will be executed by the parties to this transaction.


12. TIME AND PLACE OF CLOSING

a. The contract will be closed on ________.

b. The closing will be held at the following place:

________

c. At the closing of this contract, the Vendor shall supply the documents in respect of the Property to the Purchaser.


13. GOVERNING LAW

This Contract shall be governed by the laws of the Federal Republic of Nigeria.


14. JURISDICTION

Both parties agree that the Nigerian courts shall have the exclusive jurisdiction to settle any dispute or claim in connection with this contract.


15. ENTIRE AGREEMENT

This Agreement and any other document referred to in this agreement, constitutes the entire agreement between the parties and supersede any prior written or oral agreement made between them.


16. 8855855

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17. 588585588

82 2552 22 2588 825222222 85588 82 855825 25 2252825225 528288 8585 855852822 88 525225 525 882225 82 252 8225 2552828.


18. COUNTERPARTS

This Agreement may be executed in several counterparts, all of which constitutes a single agreement between the Parties.

IN WITNESS WHEREOF the Parties hereto have executed this Agreement this day and year first written above.

The Common Seal of the within named ________

is hereby affixed in the presence of:




______________________________

DIRECTOR



______________________________

DIRECTOR/SECRETARY






The Common Seal of the within named ________

is hereby affixed in the presence of:




______________________________

DIRECTOR



______________________________

DIRECTOR/SECRETARY

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CONTRACT OF SALE

THIS CONTRACT OF SALE is made on ________ (the "Effective Date").

BETWEEN

________, having its registered business address at the following:

________

(hereinafter referred to as the "Vendor") which expression shall, where the context so admits, include the vendor's representatives assignees of the one part;

AND

________, having its registered business address at the following:

________

(hereinafter referred to as the "Purchaser") which expression shall, where the context so admits, include the vendor's representatives assignees of the other part.

The Vendor and the Purchaser are jointly referred to as the "Parties".


WHEREAS
:

a. The Vendor desires to sell the Property to the Purchaser.

b. The Purchaser has agreed to buy the Property from the Vendor.


IT IS HEREBY AGREED AS FOLLOWS:


1.
CONTRACT OF SALE

a. In pursuance of this contract, the Vendor agrees Purchaserto sell outright and the Purchaser agrees to buy the Property subject to the terms and conditions of this contract.

b. The Vendor warrants that it possesses good and valid title to the Property and is able to sell.


2. PROPERTY

The Property consists of the following:

________ (the "Property")


3. PURCHASE PRICE

The Purchase Price which is the consideration for the sale of the Property shall be ₦________ (________) (the "Purchase Price").


4.
TERMS OF PAYMENT AND POSSESSION

a.The Purchase Price shall be paid in equal installments.

b.The Purchaser shall pay the sum of ₦________ (________) every week for a period of ________ (________) weeks.

c. The above payment shall be made in cash.


5. DEDUCING TITLE

a. The Vendor's title to the Property has been deduced to the Purchaser before the date of this contract.

b. The Purchaser is deemed to have full knowledge of the title and is not entitled to raise any objection, enquiry or requisition in relation to it.


6. VACANT POSSESSION

The Property will be sold with vacant possession on completion.


7. PHYSICAL CONDITION OF PROPERTY

The Vendor does not make any claims or promises about the condition or value of any of the property included in this sale. The Purchaser has inspected the Property and relies on this inspection and any rights which may be provided elsewhere in this contract.


8. INSPECTION OF THE PROPERTY

The Vendor agrees to permit the Purchaser to inspect the Property at any reasonable time before closing.


9. OBLIGATION OF THE
VENDOR

a. The Vendor shall sell the Property free from encumbrances other than the following:

I. any matter which the Vendor does not and could not reasonably know about;

II. any matters which may be discovered by inspection of the Property before the date of this contract;

III. any matters, other than charges, disclosed or which would have been disclosed by the searches and inquiries which a prudent Purchaser would have made before entering into this contract.

b. The Vendor covenants with the Purchaser that the Property hereby sold and transferred to the Purchaser is completely free from all mortgages, charges and encumbrances, defect in title or adverse third party rights.


10. OBLIGATIONS OF THE
PURCHASER

a. The Purchaser shall do the following:

I. pay the Purchase Price to the Vendor in accordance with clause 3 above;

II. be liable to the appropriate Government authorities for the payment of the payment of all applicable taxes, costs, levies and charges due and payable in respect of this transaction;

III. in the event that any payments required to be made by the Purchaser remains unpaid after the payment becomes due (save for delay in payment resulting from the mechanics of bank transfer), the Vendor shall have the right to rescind this Contract.

b. The Purchaser shall perfect the title without any hindrance from the Vendor, and the Vendor shall provide any relevant documentation and information that may be necessary in order to perfect the title.


11. EXECUTION OF A DEED OF ASSIGNMENT

In this contract, the Vendor agrees to provide and the Purchaser agrees to accept a deed of assignment which will be executed by the parties to this transaction.


12. TIME AND PLACE OF CLOSING

a. The contract will be closed on ________.

b. The closing will be held at the following place:

________

c. At the closing of this contract, the Vendor shall supply the documents in respect of the Property to the Purchaser.


13. GOVERNING LAW

This Contract shall be governed by the laws of the Federal Republic of Nigeria.


14. JURISDICTION

Both parties agree that the Nigerian courts shall have the exclusive jurisdiction to settle any dispute or claim in connection with this contract.


15. ENTIRE AGREEMENT

This Agreement and any other document referred to in this agreement, constitutes the entire agreement between the parties and supersede any prior written or oral agreement made between them.


16. 8855855

888 2228828 52525 2588 82225582 2582 82 82 8582822. 552 2228828 2582 82 528882525 2258225882 25 258825 82 5 825282825 2588 22 252 22525 25522 52 252 5555288 8582222 82 2588 82225582 25 2552 25522'8 52225222.


17. 588585588

82 2552 22 2588 825222222 85588 82 855825 25 2252825225 528288 8585 855852822 88 525225 525 882225 82 252 8225 2552828.


18. COUNTERPARTS

This Agreement may be executed in several counterparts, all of which constitutes a single agreement between the Parties.

IN WITNESS WHEREOF the Parties hereto have executed this Agreement this day and year first written above.

The Common Seal of the within named ________

is hereby affixed in the presence of:




______________________________

DIRECTOR



______________________________

DIRECTOR/SECRETARY






The Common Seal of the within named ________

is hereby affixed in the presence of:




______________________________

DIRECTOR



______________________________

DIRECTOR/SECRETARY