AGREEMENT APPOINTING BROKER FOR SALE OF A SHOP ALONG WITH STOCK‑IN‑TRADE REMAINING UNSOLD
THIS AGREEMENT made
at …………….on
this.......................day of …………….20………... between A S/o B, resident of
…………….hereinafter referred to as "the owners" (Which expression shall, unless it be repugnant to
the context or meaning thereof, be deemed to mean and include his heirs, legal
representatives, executors and administrators) of the ONE PART and M/s
…………….Bombay Traders, a partnership firm, having its registered office at………….
hereinafter referred to as "the brokers" (which expression shall
include the survivor of them., the legal representatives of a deceased partner
and the pariners for the time being of the said firm) of the OTHER PART:
WHEREAS
(1) The owners are
the absolute owner of the shop, situated at …………….hereinafter referred to as
the "said shop" and more particularly described in the First Schedule
hereunder written;
(2) The owners were
running the business of books and stationery in the said shop and due to
personal reasons, the owners are willing to sell the said shop with the stock‑in‑trade
remaning unsold at the time of closing and furniture hereinafter referred to as
"the goods", the details of which are described in the Second
Schedule hereunder written;
(3) The owners require the service of a good
broker for selling the said shop and the goods;
(4) The brokers are
the reputed brokers, who are doing the business of brokers in the area in which
the said shop is situated and have shown their willingness to act as broker for
selling the said shop and the goods;
(5) The owners have
agreed to appoint the said brokers as the broker for selling the said shop and
goods.
NOW IT IS AGREED BY
AND BETWEEN THE PARTIES AS FOLLOWS:
(1)The owners hereby
appoint the brokers to sell the property and goods described in the First and
Second Schedules.
(2) The brokers are
authorised to sell the property and the goods at a price of Rs ……………. and the purchaser has to pay Rs .
…………….as earnest money and the balance amount will. be payable within a
period of one month or at the time of
registration of sale deed, whichever is earlier.
(3) The owners
hereby represent and warrant that the details of the property and goods as
described in the Schedules hereto are true and correct and the said property is
free from mortgage, charge, lien or any encumbrance.
(4) The owners
hereby undertake that they will deliver to the purchaser, within one week of
receipt of earnest money, the abstract of title showing that the owners are the
owners of the property and goods and the said property and goods are free from
mortgage, charge, lien or any encumbrance.
(5) The owners
agree that they will execute sale deed of the property and hand over the
possession of the said property and goods to the purchaser.
(6) The owners
shall pay to the broker the commission at the rate of 2% of the consideration,
which shall be payable in two installments , i.e. 0.5% on receipt of the
earnest money and the balance 1.5% at the time of registration of sale deed in
favour of the purchaser.
(7) The brokers
shall be authorised to sell the property and the goods within a period of 10
days from the date of these presents and after the said period, the said
authority will be cancelled. On cancellation of such authority, the brokers
will not be entitled to any remuneration from the owners. However, if the
owners cancel the broker's authority within the period of 10 days, the broker
shall be entitled to get reimbursement of the expenses (not exceeding Rs …………….) incurred by him in connection with
the sale of the said property and the goods.
IN
WITNESS WHEREOF the parties have put their hands the day and year first
hereinabove written.
First
Schedule above referred to
Second
Schedule above referred to
WITNESSES Signed and delivered by the within named
owners
1. Shri
..................
2. Signed
and delivered by the within named brokers Shri ..................................
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