Contract Of Promise For Sale Of Immovable Property (Real Estate Sales Promise Contract)
1. PARTIES
This contract, on the one hand ………………………….adres………………………. located at ……………. SELLER NAME / TITLE…………………. (hereinafter referred to as “Seller”) and on the other hand …………………. .address located at ……………………………….. (………….. BUYER NAME / TITLE …………….) (hereinafter referred to as “Buyer”) (hereinafter referred to as “Buyer”) has been signed under the following conditions.
2. SUBJECT OF THE CONTRACT
The subject matter of this Agreement consists of the promise and commitment by the Seller to the Buyer of the sale of the real estate (“Real Estate”) in the nature of “residential” with a surface area of (…………) m2, registered in the (…………) m2, registered in the (………), island (………), parcel (………), registered in the name of and owned by the Seller, within the borders of the (……………) province, (………………………) district, ……………………………….. village of the title deed, and the Buyer’s acceptance of this promise and commitment.
3. SALE INFORMATION AND PAYMENT PLAN OF THE REAL ESTATE
3.1. The total sales price of the Real Estate is (………… sales price……………)TL.
3.2. The parties have agreed that the sale price shall be paid by the Buyer to the Seller as follows:
– TL (………………………)TL corresponding to (……)% of the total sale price on the date of signature of this Agreement,
– (………………………)TL corresponding to (……)% of the total sales price (………………………)TL, in equal installments of (………)TL (……………)TL per month starting from the month following the month of signing this Agreement,
– The remaining %(……) of the total sales price in advance and in cash upon transfer of the title deed
3.3. The installments shall be paid monthly at the latest on the 5th day of each month to the bank account to be notified by the Seller. If the Buyer defaults in paying the installments, the Buyer agrees and undertakes in advance to pay a delay compensation of % (………) of the installment price separately for each installment.
3.4. The Buyer agrees and undertakes in advance that in the event that the Seller terminates the contract due to non-payment of the sales price duly, he irrevocably waives the return of the first payment covering %(……) of the total sales price.
4. TRANSFER OF TITLE DEED
4.1. Provided that the sale price of the real estate subject to the contract has been paid to the Seller by the Buyer as stated above; the official ownership of the real estate
2 way, the title deed transfer to the Buyer will be realized at the relevant Land Registry Office until ……………………………….. at the latest. However, the Parties may extend this period with their mutual and written declarations of will. The Seller agrees and undertakes to pay the Buyer (…………………)TL. as a penal clause for each delayed month if the Seller does not officially transfer the title deed to the Buyer until the date specified above. In this case, the Buyer also reserves the right to terminate the contract and to recover the amounts paid by the Buyer together with the monthly %(……) delay interest.
4.2. The Seller shall deliver the Real Estate subject to the Contract to the Buyer free and clear of any legal restrictions (lien, mortgage, etc.).
5. ASSIGNMENT OF THE CONTRACT
The parties may not transfer or assign their rights and obligations arising from this Agreement to third parties unless they agree in writing.
6. TERMINATION OF THE AGREEMENT
The Seller may terminate this Agreement if the Buyer fails to fully and duly fulfill its payment obligations arising from the Agreement.
The Buyer’s right of termination is set forth in Article 4 above.
7. FEES AND EXPENSES
8. ANNOTATION OF THE AGREEMENT TO THE TITLE DEED
This Agreement may be annotated in the land registry by the parties together or by one of the parties.
9. NOTIFICATION ADDRESSES
10. DISPUTE RESOLUTION
(………………………) Courts and Enforcement Offices are authorized for the settlement of disputes arising from this Agreement.
This Agreement has been issued on …….. on …………….. in …………….. copy.
BUYER
SELLER
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