Offer for property purchase

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Offer for property purchase

PERSONAL DATA 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]
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]



OFFER FOR PROPERTY PURCHASE
The undersigned hereby makes an offer to purchase the real property specified below.


THE PROPERTY
The Property is registered at Topographical No. [Topographical number],
physically located in [City],
at [Address],



PURCHASE PRICE
to be paid in accordance with the following schedule:


PAYMENT

Payment of the purchase price
The [Initial sum] shall be paid on or before [due date of the initial sum] as earnest money, to be paid up front, upon signing the contract, which the Offeror pays as a binder to demonstrate its commitment to purchase the property. [Means of payment] The Parties acknowledge that if the Sales Contract is duly performed, the amount of the earnest money shall be included in the purchase price. By signing this Contract, {Party A} acknowledges receipt of the amount of earnest money in full. The Parties aknowledge that they understand the legal consequences of earnest money. The second portion shall be paid on or before [due date of second portion]. The balance of the purchase price shall be paid on or before [due date of the balance of the purchase price] The conditions of the payment of the second portion will be specified in the sales contract, but the Parties agree to pay the same or or before the delivery date.


CONDITIONS


Offeror agrees to prepare the Sale and Purchase Agreement in writing in a form suitable for the Land Registry process


CANCELLATION FEE
Offeror agrees to pay [Amount in letters] [currency] ([Amount in numbers] [currency]) as cancellation fee


RESERVATION OF TITLE
{Party A} shall reserve its title of ownership to the Property until the purchase price has been paid in full. The Parties expressly agree that {Party B} shall acquire title to the Property only when the full amount of the purchase price has been paid and the transfer of title to {Party B} has been dully registered. {Party A} shall consent to the registration of the acquisition of title by {Party B}.


ADMINISTATION OF THE SALE TRANSACTION
{Party A} hereby retains [Attorney's name] of [Law office] to administer the process with the Land Registry Office. The Parties authorise [Attorney-at-law's name] of [Name of the law office] to represent them during the process. The Parties authorise [Attorney-at-law's name] to represent the Parties before the Land Registry Office in connection herewith with the powers specified in Act 11 of 1998 on Attorneys-at-law. The Parties agree to the apply of this Contract as a statement of facts.