KShs 3,000.00
A Sale Agreement – Private Treaty is a legally binding contract between a seller and a buyer, where the terms of the sale of a property are agreed upon privately, without the property being offered at public auction.
This sale agreement outlines the specifics of the property in question, including its location, boundaries, and any fixtures or fittings which are to be included in the sale. It also details the responsibilities of each party ( the buyer and the seller ), such as the seller’s obligation to provide a clear title and the buyer’s obligation to pay the agreed-upon price.
The agreement will state the purchase price, the deposit amount, and the timeline for payment, as well as any conditions precedent that must be fulfilled before the sale can be completed, such as obtaining financing or passing inspections. It is essential that both parties fully understand and agree to the terms set out in the Sale Agreement – Private Treaty, as it forms the basis of the legal transfer of property ownership. Once signed, it commits both the buyer and the seller to the transaction, with legal recourse available should either party fail to fulfill their obligations as stipulated in the agreement.
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