If this agreement has been reached, the seller is bound by this condition. Should we re-register and re-register new agreements? You can renew the same agreement by approving on the back of the first or second page of the original agreement with witnesses who certify approval. In addition, one of the clauses in the agreement says that on cancellation the seller must refund the serious money with the interest of …..% what does that interest mean? Interest means that if the same thing is cancelled by the seller, the interest on the principle amount must be paid. 1. Yes, if the initial agreement has been registered, then the agreement must be registered for the extension of time as well. Our first task to meet the requirements of this paperwork will be to identify the date of the calendar. Write down the name of the month and the double-digit calendar day on the first empty field, and then fill the year in double digits of the validity date of this document on the second space. The buyer`s full name must be after the word “… “Enter” and in front of the “Buyer” label. Then the seller`s name should be added to the empty space attached to the “seller” label. The last two spaces of the opening declaration require a report on the execution date in the original agreement. Document this date as a calendar month, day and year in these areas. 1.
The parties state that the execution date of the sales activity has been extended by two years and is then signed by both parties. There is no separate agreement. 4. The revocation clause implies that the serious money must be repaid with the interest in the agreement. No stamp duty may be paid on the extension if it is confirmed only on the back of this agreement. 4) In case of termination of the contract, you must repay the Rs of a Lakh of you with the agreed interest rate It means that there is a contract registered for the sale. You must therefore register the declaration of extension of the deadline. In general, the term % refers to fixed-rate bank interest rates. 1.
You can run and save an endorsement. 1) wait for the expiry of the contract and then extend them by mutual agreement on the same terms for a period of 2 years by modification of the sales contract, extended period. There is no need to pay any additional fees. OR ask for the improvement of the sales contract, nominal fees payable. The extension of the additional broadcast time is used if both parties agree to extend the date on which the purchaser can close the property. An extension is likely due to an unforeseen circumstance, for example.B. problems with the security, the financing of the buyer, the buyer`s need to sell his property or for some other reason acceptable to the seller. Under the terms of the sales contract, the seller may, if he does not wish to grant a renewal, demand that the deposit be refunded to the buyer.
Although market conditions have changed in favour of the seller, since the property has been contracted, the seller may be motivated to grant an extension in the hope that the buyer will close at the agreed sale price.