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Sample Apartment Sales Agreement

Introduction
Definitions
Sale and Purchase
Purchase Price
Payment Terms
Possession and Transfer
Representations and Warranties
Conditions Precedent
Default and Remedies
Miscellaneous Provisions
Governing Law
Signatures

1. Introduction

This Apartment Sales Agreement ("Agreement") is made and entered into on this [Date] by and between:

Seller: [Seller's Full Name] [Seller's Address] [Seller's Identification Number]

Buyer: [Buyer's Full Name] [Buyer's Address] [Buyer's Identification Number]

The Seller and Buyer are collectively referred to as the "Parties" and individually as a "Party."

2. Definitions

Apartment: The residential unit located at [Apartment Address], with a total area of [Area in Square Feet] square feet, identified as [Apartment Number] in [Building Name].
Purchase Price: The total amount payable by the Buyer to the Seller for the Apartment, as specified in Section 4.
Completion Date: The date on which the transfer of ownership and possession of the Apartment is completed, as specified in Section 6.

3. Sale and Purchase

The Seller agrees to sell, and the Buyer agrees to purchase, the Apartment on the terms and conditions set forth in this Agreement.

4. Purchase Price

The Purchase Price for the Apartment is KES [Amount in Words] ([Amount in Figures]).

5. Payment Terms

Deposit: The Buyer shall pay a deposit of KES [Deposit Amount] upon signing this Agreement.
Balance: The remaining balance of KES [Balance Amount] shall be paid on or before the Completion Date.

6. Possession and Transfer

Possession: The Seller shall deliver vacant possession of the Apartment to the Buyer on the Completion Date.
Transfer: The Seller shall execute all necessary documents to transfer ownership of the Apartment to the Buyer on the Completion Date.

7. Representations and Warranties

Seller's Warranties: The Seller warrants that:
- The Seller has good and marketable title to the Apartment.
- The Apartment is free from any encumbrances, liens, or legal disputes.
Buyer's Warranties: The Buyer warrants that:
- The Buyer has the financial capacity to pay the Purchase Price.
- The Buyer has conducted due diligence and is satisfied with the condition of the Apartment.

8. Conditions Precedent

The obligations of the Parties under this Agreement are subject to the fulfillment of the following conditions:

Approval of the sale by relevant authorities.
Completion of all necessary inspections and surveys.

9. Default and Remedies

Seller's Default: If the Seller fails to complete the sale, the Buyer may terminate this Agreement and recover the deposit.
Buyer's Default: If the Buyer fails to complete the purchase, the Seller may terminate this Agreement and retain the deposit as liquidated damages.

10. Miscellaneous Provisions

Entire Agreement: This Agreement constitutes the entire agreement between the Parties and supersedes all prior agreements and understandings.
Amendments: Any amendments to this Agreement must be in writing and signed by both Parties.
Notices: Any notices required under this Agreement shall be in writing and delivered to the addresses specified above.

11. Governing Law

This Agreement shall be governed by and construed in accordance with the laws of Kenya.

12. Signatures

IN WITNESS WHEREOF, the Parties have executed this Agreement as of the date first above written.

Seller:

[Seller's Full Name]
Date: [Date]

Buyer:

[Buyer's Full Name]
Date: [Date]

Witness 1:

[Witness 1 Full Name]
[Witness 1 Address]
Date: [Date]

Witness 2:

[Witness 2 Full Name]
[Witness 2 Address]
Date: [Date]

Sources

This sample agreement is intended to provide a general framework and should be customized to fit the specific details and requirements of the transaction. It is advisable to consult with a qualified legal professional to ensure compliance with all applicable laws and regulations.