Example of Promise of Sale Contract

A Promise of purchase agreement, is a contract in which the buyer agrees to enter into a formal contract in a previously agreed time, in order to buy an item, whatever it may be.

The Promise of purchase agreement it can have a fixed term, and generally in case of not fulfilling it, it loses all amount used as collateral. This contract is used by many as a way to set aside an item and its use has focused on the sale of real estate.

Example of contract of promise of sale:

Preparatory contract for the promise of sale, which is signed by Nicolás Antonio Fuentes Ramos as a seller who, for the purposes of this The contract will be known as "The seller" and as counterpart Mario Méndez Cabrera, who will be named as buyer for the purposes corresponding.

Being Friday June 8, 2012 and being 12:28 a.m., we enter into this contract.

Both parties agree to abide by the following statements and clauses:

Declarations:

"The seller" declares to be the owner of a property located at Av. México, number 168 Colonia Raúl Rodríguez Estado de México. Municipality of Nezahualcoyotl.

Both parties declare to carry out this contract, without any pressure and with full awareness of its content and purpose.

Clauses:

First.- By means of this contract, the seller agrees to grant and sign a formal contract of sale in favor of the interested party, regarding the aforementioned property.

Second.- For this purpose, an amount of 5,000.00 pesos m / n (five thousand pesos in national currency) is set as a section in this contract.

Third.-  Both parties agree on the final price of the item that is the subject of this contract.

Bedroom.- The beneficiary undertakes to pay the expenses and obligations corresponding to the procedure that under the promise of sale, such as deed expenses in case of signing the contract.

Fifth.- Both parties set the deadline for entering into the formal contract on September 30, 2012.

Sixth.-. Both parties expressly agree that if for any reason the contract of sale is not signed, granted or executed definitive on the agreed date, this legal instrument will be without effect and, therefore, the promisors will not be entitled to the payment of any compensation.

Seventh.- The contractor is fully aware that if the sale of the aforementioned property does not materialize, he will lose the amount presented as a guarantee for this contract.

Eighth. With this contract, both parties are bound with respect to the aforementioned property and therefore gives exclusivity or privilege to the person who signs this.

Since the parties agree to this contract of promise of sale, they sign

SELLER BUYER
Signature Signature

Witness Witness
Signature Signature