Real property sales contract

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Real property sales contract

This agreement is made and entered into by and between [Name of Party A],



Represented by: [Representative's name]
Registered Office: [Principal office]
Company Registration No.: [Company reg. No.]
Tax registration No.: [Tax registration No.]
Statistical No.: [Statistical No.]
Bank account No.: [Bank account No.]




(hereinafter referred to as {Party A}), on the one hand, and [Name of Party B]



Name at birth: [Name at birth]
Date and place of birth: [Place and date of birth]
Mother’s name: [Mother's name]
Identity card No.: [ID Card No.]
Personal ID No.: [Personal ID No.]
Tax ID No.: [Tax ID No.]
Address: [Address]




(hereinafter referred to as {Party B}), on the other hand, {Party A} and {Party B} hereinafter collectively referred to as the Parties. in the place and on the date written below, with the following terms and conditions.



{Party A} represents to be the owner of the following property:


REPRESENTATIONS

Ownership of the site
{Party A} represents to have [Ownership interest] ownership in the Property.


THE PROPERTY


The Property is registered at Topographical No. [Topographical number],
physically located in [City],
at [Address],
with [Floor space] net floor space,
comprising [Number of rooms] rooms,
and classified in the land register as [Classification of the property],
in accordance with the land registry.



ENCUMBRANCES
The attorney-at-law who countersigned this contract has confirmed that, based on the Abstract of Title as of the day signing hereof the ownership interest of {Party A} is free and clear of any encumbrances.


SUBJECT MATTER OF THE CONTRACT
{Party A} sells and {Party B} buys the subject Property for the purchase price of [Amount - letters] [Currency], ([Amount – numbers][Currency]) mutually agreed upon by the Parties.


PAYMENT OF PURCHASE PRICE
The Parties mutually declare that {Party B} previously handed over [Amount in - letters] [Currency] ([Amount - numbers] [Currency]) to {Party A}, the receipt of which is hereby acknowledged and which is regarded as earnest money by the Parties, who represent to be familiar with the legal definition of earnest money. {Party B} agrees to transfer [Amount in letters] [Currency] ([Amount in numbers] [Currency]) to bank account No. [Bank account number] kept with [Name of the bank] Bank Zrt. as the second and last portion of the purchase price on or before [Date]. {Party B} agrees to pay the balance of [Amount in letters] [Currency] ([Amount in numbers] [Currency]) of the purchase price to the bank account specified in this Contract. In the event that {Party B} has paid the amount specified above in accordance herewith, {Party A} agrees to certify that {Party B} has fulfilled his payment obligation completely by issuing an acknowledgement of receipt countersigned by an attorney-at-law (“Consent to Registration”) and and contemporaneously consent to the registration of {Party B}’s exclusive title to the Property in the land register irrevocably and unconditionally with reference to sale and purchase.


ESCROW DOCUMENT
The Parties agree that, contemporaneously with the signing hereof, {Party A} shall place in escrow [Number of copies] originals of his Consent to Registration with [Name of the law office] acting as escrow {Party B} (hereinafter referred to as the Escrow {Party B}). The Escrow {Party B} may issue the Consent to Registration to {Party B} or the person designated by {Party B} on the condition that {Party B} has verified the payment of the purchase price in the manners determined in the Contract, or {Party A} requests that it should be issued at least in the form of a simple document (including but not limited to e-mail, postal mail or fax as well). The Parties agree that following the signing hereof, {Party B} may file this Contract with the relevant Land Registry Office and apply for the registration of his title, however, based on paragraph b) of Section (1) of Article 47/A of the Act on Real Estate Registration, the Parties request that the proceeding should be left pending until the date determined by {Party A} for giving his consent to the registration of {Party B}’s title to the property but 6 months following the filing of the application with the land registry authority.


REPRESENTATIONS

Representations and warranties regarding the property
{Party A} unconditionally warrants that the Property is free of liens, claims and encumbrances, and hereby represents that no third party has any right to the Property that may hinder or render impossible {Party B}’s acquisition and use of the Property. 


REPRESENTATIONS
{Party A} represents that no concealed condition exists in connection with the Property that {Party В} has not been informed of by {Party А}. {Party A} represents and warrants that the execution, delivery and performance hereof by {Party A} violates no contract, obligation, judgement or order entered by or containing any provision binding the {Party A} or any legal rule or provision applicable to {Party A} or the Real Property. {Party A} also warrants that the representations and warranties made by the {Party A} herein would be valid on the day of registration of the {Party B}’ title in the land register as well. {Party A} represents that, prior to the execution hereof, made available all information regarding the Property so that {Party B} could become familiar with the exact size, characteristics and technical conditions thereof.





{Party A} did not make any representations in connection with the Property over and beyond present Contract.


VACATION OF THE PROPERTY
{Party A} shall vacate the Real Property before it is delivered to {Party B}.


ENERGY CERTIFICATE
The Parties confirm that Government Decree No. 176/2008. (VI.30.) on Certification of Energetic Characteristics of Buildings requires that an energy certificate be prepared for the purposes of this transaction. The Parties confirm that the {Party A} has obtained an energy certificate prepared as required by Government Decree No. 176/2008. (VI.30.) with the serial No. [XXX] of the Property. The {Party B} confirms that, by signing this agreement, {Party A} has delivered an original energy certificate to {Party B}, who hereby acknowledges the receipt thereof. The number of the energy certificate: [Number of the energy certificate].


PREVAILING LANGUAGE
In the event of any discrepancy between the different language versions, the [prevailing language] version shall prevail.


SIGNATURES
IN WITNESS WHEREOF, each of the Parties has executed this Contract, both Parties by its duly authorized officer, as of the day and year set forth below.



Witness 1
Name: {Name of witness 1}
Address: {Address of witness 1}
Identity card No.: {ID Card No. of witness 1}
Signature:
Witness 2
Name: {Name of witness 2}
Address: {Address of witness 2}
Identity card No.: {ID Card No. of witness 2}
Signature: