Ask a lawyer:
Draft a sample apartment sales agreement document

mwakili.com

Apartment Sales Agreement

Introduction
Parties
Property
Purchase Price
Payment Terms
Completion Date
Possession
Title Deeds
Conditions Precedent
Representations and Warranties
Default and Remedies
Termination
Governing Law and Jurisdiction
Notices
Entire Agreement
Severability
Waiver
Assignment
Force Majeure
Dispute Resolution
Miscellaneous
Signatures

1. Introduction

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

[Seller Full Name], residing at [Seller Address], hereinafter referred to as "Seller"; and
[Buyer Full Name], residing at [Buyer Address], hereinafter referred to as "Buyer".

2. Parties

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

3. Property

The Seller agrees to sell and the Buyer agrees to purchase the apartment unit located at [Apartment Address], hereinafter referred to as the "Property". The Property is described as follows:

[Apartment Number]
[Number of Bedrooms] bedrooms
[Number of Bathrooms] bathrooms
[Square Footage] square feet
[Other Relevant Details]

4. Purchase Price

The purchase price for the Property shall be [Amount] Kenyan Shillings ([Amount in Words]) ("Purchase Price").

5. Payment Terms

The Purchase Price shall be paid as follows:

[Amount] Kenyan Shillings ([Amount in Words]) as a non-refundable deposit upon the signing of this Agreement.
[Amount] Kenyan Shillings ([Amount in Words]) upon the completion of the sale.

6. Completion Date

The completion date for the sale of the Property shall be [Date] ("Completion Date"). The Completion Date may be extended by mutual written agreement of the Parties.

7. Possession

The Buyer shall be entitled to possession of the Property on the Completion Date.

8. Title Deeds

The Seller shall provide the Buyer with a clear and marketable title to the Property, free from any encumbrances, liens, or other charges, except as disclosed in this Agreement. The Seller shall be responsible for all costs associated with the transfer of title to the Buyer.

9. Conditions Precedent

The completion of this Agreement is subject to the following conditions precedent:

The Buyer obtaining financing for the Purchase Price, if applicable.
The Seller obtaining any necessary consents or approvals from relevant authorities.

10. Representations and Warranties

The Seller represents and warrants to the Buyer that:

The Seller has full right, power, and authority to sell the Property.
The Property is free from any encumbrances, liens, or other charges, except as disclosed in this Agreement.
The Property is in good condition and habitable.
The Seller has disclosed all known defects in the Property.

11. Default and Remedies

If either Party defaults in the performance of its obligations under this Agreement, the non-defaulting Party shall have the right to pursue any and all remedies available at law or equity, including but not limited to:

Specific performance.
Termination of this Agreement.
Damages.

12. Termination

This Agreement may be terminated by either Party upon the occurrence of any of the following events:

The failure of the Buyer to obtain financing for the Purchase Price, if applicable.
The failure of the Seller to obtain any necessary consents or approvals from relevant authorities.
The failure of either Party to perform its obligations under this Agreement within the timeframes specified herein.

13. Governing Law and Jurisdiction

This Agreement shall be governed by and construed in accordance with the laws of Kenya. Any dispute arising out of or relating to this Agreement shall be subject to the exclusive jurisdiction of the courts of Kenya.

14. Notices

All notices and other communications hereunder shall be in writing and shall be deemed to have been duly given when delivered personally, sent by registered mail, or sent by email to the addresses set forth below:

Seller:
- [Seller Address]
- [Seller Email Address]
Buyer:
- [Buyer Address]
- [Buyer Email Address]

15. Entire Agreement

This Agreement constitutes the entire agreement between the Parties with respect to the subject matter hereof and supersedes all prior or contemporaneous communications, representations, or agreements, whether oral or written.

16. Severability

If any provision of this Agreement is held to be invalid or unenforceable, such provision shall be struck and the remaining provisions shall remain in full force and effect.

17. Waiver

No waiver of any breach of this Agreement shall be deemed a waiver of any subsequent breach.

18. Assignment

This Agreement may not be assigned by either Party without the prior written consent of the other Party.

19. Force Majeure

Neither Party shall be liable for any delay or failure to perform its obligations under this Agreement due to any cause beyond its reasonable control, including but not limited to acts of God, war, terrorism, riots, civil unrest, labor disputes, or governmental regulations.

20. Dispute Resolution

Any dispute arising out of or relating to this Agreement shall be settled amicably through negotiation. If the Parties are unable to reach an amicable settlement, the dispute shall be referred to arbitration in accordance with the Arbitration Act, 1995.

21. Miscellaneous

This Agreement may be executed in one or more counterparts, each of which shall be deemed an original, but all of which together shall constitute one and the same instrument.
This Agreement shall be binding upon and inure to the benefit of the Parties hereto and their respective successors and permitted assigns.

22. Signatures

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

Seller:

[Seller Signature]

[Seller Printed Name]

Buyer:

[Buyer Signature]

[Buyer Printed Name]

Sources:

Case Laws:

Mombasa Municipal Council v. Republic [1969] EA 405: This case established the principle of specific performance in Kenyan law, which allows a court to order a party to fulfill their contractual obligations.
Kenya Commercial Bank Ltd. v. Trust Bank Ltd. [2002] 1 EA 1: This case clarified the concept of "force majeure" in Kenyan law, which exempts parties from liability for non-performance due to events beyond their control.

This is a sample apartment sales agreement document and should be reviewed by a qualified legal professional before use. The specific terms and conditions of the agreement should be tailored to the specific circumstances of the transaction.