Apartment sale contract information
This contract is an example, but not the final version. The seller and the buyer can always make changes and additions to it.
On the right side of the contract is the same text, only in Arabic.
PURCHASE AND SALE CONTRACT
This contract has been signed and entered into force (date) between the following parties:
The first party:
The name of the Egyptian developer company or the owner's data
Mr. Name of the company owner (seller)
The position of the seller (may be absent if it is an employee)
Profession – office address:
Accordingly, the address of the office
I.D no Here is the seller's ID number (like our passport number)
The second party:
Mob.: + 7 111 111 111
The first party is the owner of the building, which is located on the land plot No..... with an area of...... sq. m., located in the area of......., Hurghada, Red Sea, Egypt. The building consists of.... on the territory of the building there is a swimming pool, a garden.
The second party, after familiarizing itself with the plans and the archetypal project of the building, decided to purchase apartment No....... located in the above-mentioned building on the...... floor. Layout: (as an option) a living room with an integrated open-plan kitchen, a bathroom and a balcony. Both parties have reached an agreement and signed an agreement on the following:
Article No. 1
The preamble to this treaty is an integral part of it and serves as
the main addition.
Article No. 2
The first party undertakes to transfer ownership to the second party that has made a decision to purchase apartment no..... located on the..... floor in the building no..... in Hurghada, Red Sea, Egypt. Layout: studio area...... sq. m., living room, bathroom and balcony.
Article No. 3
The process of transferring the rights to own an apartment that is the object of this contract is carried out on the condition that the second party pays an amount of $ 35,000 (as an example)
( Thirty-five thousand US dollars )
First payment: The first party (date) received $ 1000 from the second party .
(one thousand US dollars),
both the prepayment for the purchased apartment and the fact of payment of this amount is confirmed by the signature of the first party in the relevant part of this agreement.
Second payment: The second party undertakes to pay the amount of $34,000
(Thirty-four thousand US dollars) until (date).
*The second party has the opportunity to make payment for the purchased apartment in cash or via bank transfer within the specified time. In case of non-payment by the second party of the required amounts within the specified time, the first party has the right to demand termination of the contract and compensation in the amount of 25% of the amount already paid by the second party and at the same time undertakes to return to the second party the remainder of the amount already paid by the second party in accordance with the terms of this agreement. In case of termination of this agreement at the initiative of the second party, with prior written notification of the first party, the first party has the right to demand compensation in the amount of 25 % of the amount already paid by the second party and at the same time undertakes to return to the second party the balance of the amount already paid in accordance with the terms of this agreement.
*As for this part of the contract, it is formed individually and agreed upon through negotiations between the seller and the buyer, based on the wishes of the parties.
Article No. 4
The first party transfers to the second party a share of the rights to the area of the plot and buildings, such as common walls, entrances, outdoor lighting, external territory, staircases, roofs, passages that are in public ownership. The share of rights is equal to the percentage of the area of the purchased apartment to the total area of the land plot on which the building is located.
Article No. 5
The first party guarantees that the apartment that is the subject of this contract is not alienated to anyone, is not mortgaged, is not promised, is not in dispute, is not in trust management, is not leased, is not transferred as a contribution to the authorized capital of legal entities, is not burdened with other rights of third parties. The first party declares that the building in which the apartment is located was built in accordance with the requirements and laws in force on the territory of the Red Sea region, in accordance with the construction license No....... issued by the City Council of the city of Hurghada in 200.. year.
Article No. 6
The second party confirms that at the time of signing the contract, it inspected the land plot for the construction of the building, got acquainted with the drawings, found no flaws and was fully aware of its condition. (appendix No. 3.)
Article No. 7
The first party undertakes to transfer the apartment to the second party (date). In case of exceeding the specified deadlines, the first party undertakes to pay compensation to the second party in the amount (number) (number in words) for each week of delay.
*If the house is rented, then this item is missing.
Article No. 8
The first party undertakes to transfer to the second party an apartment with interior decoration, with connected communications, such as water supply, sewerage, electrical wiring, etc. (Appendix No. 1 ) The first party also undertakes to fully complete the work on finishing the facades, side walls of the building, forest flights and entrances, construction of a swimming pool, lighting and landscaping of the territory, in accordance with the design project approved by the city council and confirmed by the license issued by it. The cost of installing an electric meter in the amount of (amount) $ is borne by the second party. The second party also undertakes to pay annual fees for the maintenance of the complex in the amount of (amount) (amount in words), namely: cleaning the territory and cleaning the pool,watering the greenery, lighting (appendix No. 2).
Article No. 9
Both parties agreed that all the costs of registering the purchased apartment are paid by the second party. The first party undertakes to issue to the second party a power of attorney for the sale of the apartment TAUKIL (proxy), simultaneously with the issuance of a receipt for receiving full payment.
Article No. 10
The first party confirms that the rights to own the building in which the sold apartment is located were transferred to the second party as a result of the transaction for the acquisition of real estate in the city council, on the basis of the final purchase and sale contract.
Article No. 11
Disputes of the parties arising from or related to this contract, including disputes arising from the interpretation of the contract, are resolved in the court of Hurghada.
Article No. 12
This contractt is drawn up in two copies in Russian and Arabic.
One copy for the first party.
One copy for the second party.
Each of the parties owns one copy of the contract and has the right to use it if necessary.
Article No. 13
Appendices 1, 2, 3 are an integral part of the contract.
Signatures of the parties:
The First Party: