Agreement with Property Dealer for House (India) by OLL
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AGREEMENT WITH PROPERTY DEALER FOR HOUSE
(letter Form)
To:
AA
_________
Subject: Sale of my House
Dear Sir,
With reference to your request to put on record the oral understanding between us, arrived at on the evening of _________________________ in the presence of Mr. _______________________ I am recording the same:
1. You will introduce to me a ready and willing purchaser for my house known as ‘‘Sharma Cottage’’ situated at __________________________________ (Address)
2. That in the event of any purchaser introduced by you buying the said property within the period of ____________________________________ months from the date hereof I shall pay you a commission of 5% on the money received by me from such sale.
3. That the house ‘‘RAJA VILLA’’ consists of the main two-storied building with electrical and sanitary fittings (but no furniture), outhouses, garage and an extensive compound, the entire property being in an area of about …………….. sq. ft. The property is freehold and the sale will be free of all encumbrances.
4. That the sale price of the said property will be Rs …………… or any lesser amount I agree to accept and all costs of transfer to be borne by the purchaser.
5. Commission will accrue to you on the date the final payment of the sale price is made. But in order to oblige you I will make payments as follows:
(i)……….... % of the earnest money will be paid to you on the date such payment is made, as refundable advance in the event of the transaction falling through;
(ii) ………….. % of the balance on final payment.
6. I shall not be entitled to employ any other agent for procuring the sale of my said house within the said period of. ………………………………………. Months.
7. After the expiry of the said period of _________________ Months this authority shall stand cancelled.
DATE:_____
Yours faithfully,
Signature …………..
I confirm the above
Signature ……………………
This is a simple letter-form agreement between a property owner and a real estate agent (property dealer) for the sale of a residential house. It outlines the commission structure, identifies the property details, specifies an exclusivity period, and defines the terms under which the agent's payment is earned.
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About this template
What is this template?
This is an exclusive brokerage letter agreement between a homeowner and a property dealer in India. It contains a specific 5% commission calculation and a clause making the purchaser responsible for all transfer costs, and it is not a general power of attorney.
When should you use it?
Use this when you want to grant a single agent the sole right to sell your house for a set number of months. Use a Non-Exclusive Listing Agreement instead if you want to hire multiple agents simultaneously.
What's inside
| Clause | Name | What it does |
|---|---|---|
| 1 | Introduction of Purchaser | The dealer must introduce a ready and willing purchaser for the house known as Sharma Cottage. |
| 2 | Commission | The owner pays a 5% commission on sale proceeds if a purchaser introduced by the dealer buys the property. |
| 3 | Property Details | The house is described as RAJA VILLA, comprising a two-storied building with fittings, outhouses, and garage on a freehold basis. |
| 4 | Sale Price | The purchaser bears all transfer costs for the property sale at the specified price or an accepted lesser amount. |
| 5 | Payment of Commission | Commission accrues on final payment, though a percentage of earnest money is payable as a refundable advance. |
| 6 | Exclusivity | The owner is prohibited from employing any other agent for the sale during the specified period of months. |
| 7 | Expiry | The dealer's authority to represent the property stands cancelled automatically after the expiry of the agreed term. |
Who it's for
- an individual in India engaging a real estate agent to sell a freehold house exclusively
- a property dealer seeking to record an oral commission agreement for a residential sale
- a homeowner requiring a letter-form agreement that shifts transfer costs to the purchaser
How long it runs and how it's signed
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