4) If the contract is terminated, you have repaid the Rs of a Lakh of you with the agreed interest rate 4. The termination clause implies that the serious money must be repaid with the interest in the agreement. 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. 3.The time extension agreement does not attract stamp duty. We have reached an agreement on the sale of commercial real estate. At the time of the agreement buyer paid serious money from 1lakh, the agreement mentions that the transfer will be concluded within five years from the date of the agreement on the payment of the balance consideration. Now we both want to be extended by two years. The contract has not yet expired. 1) Wait for the expiry of the agreement and then renew it by mutual agreement on the same terms for a period of 2 years If this agreement has been agreed, the seller is bound by that condition. 3) how and if the payment of the balance is executed Execution Sed in favor of the buyer Also one of the clause in the agreement stipulates that on the cancellation seller has refunded the serious money with interest of …..% what does this interest mean? 4. Repayment of serious money with interest at a specified rate means that you must repay the incorrect money he deposited, as well as the interest charged to the potential buyer in the event of termination of that contract. 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. All you have to do is change the agreement and sign it. Should we re-register and re-register new agreements? 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. 3. No stamp duty is due if the sales contract is renewed.
2. In calculating the capital gain, the date of execution of the sale benefit is relevant, not the date of the sale agreement. Each party at the signing of the original sales contract must present a dated signature to this addendum. If this is not the case, it is not considered a valid complement to the contract in question. There is enough room for two buyers, two sellers and two agents to sign this document. If more than two of these parties or other parties have signed the original contract, you must either add additional signing areas (with the software you are working on), or provide an installation with the additional parts.