PROPERTY PURCHASE AND DOWN PAYMENT AGREEMENT
 
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COMPROMISO DE COMPRAVENTA Y ENTREGA DE ARRAS

PROPERTY PURCHASE AND DOWN PAYMENT AGREEMENT in ENGLISH 

En ________, ___________________ 20_____

REUNIDOS

De una parte Don __________, mayor de edad, __________, de nacionalidad __________domiciliado en __________, con pasaporte nÜ __________ N.I.E __________

Y de la otra parte Don__________, mayor de edad, de estado civil  __________, de nacionalidad __________, domiciliado en __________› con tarjeta› de residencia nº __________.

In _______, on_____________ 20_____

PRESENT

On one side, Mr. __________, of legal age, __________, with __________ nationality, residing at __________, with passport number __________ N.I.E __________

And on the other hand, Mr. __________, of legal age,marital status __________, with __________ nationality, residing at __________› with residence permit number __________.

 

INTERVIENEN

 Ambas partes en nombre e inter»s propio, reconoci»ndose capacidad legal suficiente para este acto,

ACTING 

Both parties are acting in their own name and interest, having sufficient legal capacity for this act,

MANIFIESTAN:

PRIMERO: Que Don __________ es due“o del siguiente inmueble:

DESCRIPCION: __________.

TITULO: Adquirido por compra , mediante escritura autorizada por el Notario  Don __________, el dŐa __________› de__________ de __________ y con nº de Protocolo._____

INSCRIPCI≤N: Folio __________ del Libro __________ de __________, Tomo __________ , Finca› nômero __________, InscripciŘn

SITUACI≤N ARRENDATICIA: Libre de inquilinos y ocupantes

DECLARE :

FIRST: That Mr. __________ is the owner of the following property:

DESCRIPTION: __________.

TITLE: Acquired by purchase, as stated in the title deed authorised by the Notary Public  Mr. __________, on the __________ day of __________, and with registration number_____

REGISTRATION: Page __________ of Book __________ of __________, Volume __________, Property number __________, Registration

TENANCY STATUS:   Free of any occupantes and tenants

SEGUNDO: Que interesando a Don __________ la compra de la citada finca, pero posponi»ndose la formalizaciŘn y perfecciŘn de la compraventa al cumplimiento del pago que se dir∑, estipulan el presente COMPROMISO DE ARRAS, a tenor de la prevenido en el artŐculo 1.454 del CŘdigo Civil, con sujeciŘn a los siguientes,

SECOND: That Mr. __________ is interested in purchasing the aforementioned property, but before the purchase is finally completed, a down payment will be made as stipulated in this DOWN PAYMENT AGREEMENT, in accordance with article 1.454 of the Spanish Civil Code, subject to the following,

PACTOS :

PRIMERO: Los contratantes convienen el formal compromiso de ARRAS referido a la finca que se ha descrito en el antecedente I de este contrato, en virtud del cual Don __________ se obliga a vender la misma al PRECIO PACTADO de __________ a Don _______________________, quien se obliga a adquirirlo.

AGREEMENTS :

FIRST: The two parties agree to make the formal DOWN PAYMENT agreement concerning the property mentioned in the previous section I of this contract, in accordance with which Mr. __________ undertakes to the sell the property for the AGREED PRICE of __________ to Mr.____, who undertakes to purchase it.

SEGUNDO: En concepto de arras, Don __________ ha verificado el siguiente pago:

En este acto ha entregado la suma de __________ (__________), mediante› CHEQUE BANCARIO segôn documento adjunto.

SECOND: Mr. __________ is verified to have made the following payment as a down payment:

In this act, the sum of _______ (__________) has been exchanged by BANKER'S DRAFT according to the attached documentation.

TERCERO: El presente compromiso de compraventa se establece de acuerdo con las siguientes estipulaciones:

THIRD: This property sale will be carried out in accordance with the following conditions:

1.-››››››› Si Don __________quiere que quede formalizada y perfeccionada la compraventa, deber∑ hacer pago de __________ (__________ ) al otorgar escritura, antes de que finalice el mes de __________ de__________, como m∑ximo para dar tiempo suficiente al vendedor para que realice la mudanza.

1.- ››› If Mr. __________ wishes to complete the sale, he must pay __________ (__________ ) when the title deeds are signed, before the end of the month of __________ __________, at the very latest so that the seller has enough time to complete the move.

2.-››››››› Si llegada la citada fecha no hiciera Don __________el segundo pago (o sea,__________ PESETAS) O› manifestara su voluntad de renunciar a la compra, el presente compromiso quedarŐa sin efecto de clase alguna y, por lo tanto, rescindido sin m∑s, perdiendo la cantidad entregada en concepto de arras.

2.-     If the said time period expires without Mr. __________ having made the second payment (that is to say,______ PESETAS) or declaring his wish to forego the purchase, this agreement will be rendered null and void and, therefore, terminated, forfeiting the quantity of money handed over as the down payment.

3.-››››››› Por el contrario, si el presente contrato de arras queda convalidado y se perfecciona la compraventa, »sta se regir∑ por los siguientes condicionados:

3.-››››››› On the other hand, if this down payment agreement is accepted and the purchase is completed, it will be subject to the following conditions:

I. Objeto. El objeto de las arras ser∑ en su momento la compraventa del inmueble descrito en el antecedente previo.

I. Object. The object of the down payment at the moment of sale will be the aforementioned property .

II. Precio. Es precio de la compraventa la total suma de __________ pesetas, pagaderas de la siguiente forma:

II. Price. The total purchase price of the property is __________ pesetas, payable in the following way:

a) En cuanto al depŘsito o arras por importe de __________› pesetas, recibidos en este acto, se aplicar∑ a dicho concepto (pago del precio).

a) A down payment of __________› pesetas, received at this act, will be applied for this effect (payment of price).

b) Los restantes__________ pesetas se har∑n efectivos en el momento de hacerse uso del derecho›› de adquisiciŘn y, por tanto, al perfeccionarse la compraventa, mediante el otorgamiento de la correspondiente escritura de compraventa ante notario pôblico.

b) The outstanding purchase price shall be paid on completion at the notary•s office and therefore payment shall be effected before the notary public when granting the corresponding Title Deed.

III. Cargas y Pagos. __________ se transmitir∑ libre de cargas y grav∑menes, asumiendo la vendedora la cancelaciŘn de cualesquiera que pudiera existir en el Registro de la Propiedad a su costa.

III. Charges and Payment. __________ will be sold free of charges and encumbrances, and it is the responsibility of the seller to settle any pending charges which may exist in the Property Register

Asimismo se transmitir∑ el inmueble libre de gastos y pagos de contribuciones, arbitrios, etc»tera, hasta el dŐa de la firma del presente. El comprador asumir∑ el pago de cuantos gastos se deriven del mismo a partir de dicha fecha.

Similarly, the property will be sold free of expenses and taxes, local taxes, etcetera, until the signing of this contract. The buyer will then be responsible for the payment of any costs which arise after this date.

IV. Escritura Notarial. La escritura notarial se otorgar∑ en el momento en que el precio haya sido totalmente satisfecho y ante el notario que designar∑ el vendedor o comprador ambos de mutuo acuerdo.

IV. Notarial Deed. The notarial deed will be drawn up and signed when the full price has been paid and in the presence of the notary who will designate the seller or the buyer by mutual agreement.

V. Gastos de TransmisiŘn. Todos los gastos de transmisiŘn, asŐ como los del presente contrato de arras, son a cargo del comprador, quien asume igualmente el pago de plusvalŐa que se devengare como consecuencia de la transmisiŘn, como es costumbre en el lugar de otorgamiento del presente contrato.

V. Property Transfer Costs. All the property transfer costs, as well as the costs of this down payment agreement, will be paid by the buyer, who will also be responsible for the "Plusvalia" local tax resulting from the transfer, as is the customary procedure in this type of contract.

VI. CalificaciŘn UrbanŐstica. El comprador no conoce la calificaciŘn urbanŐstica, no obstante solicitar∑ el correspondiente certificado al Ayuntamiento del lugar del emplazamiento de la finca objeto de este contrato. Siendo condiciŘn resolutoria expresa de este contrato cualquier problema de› Őndole urbanŐstica. En cuanto al estado fŐsico actual del inmueble el comprador lo acepta.

VI. Urban Development Rating The buyer does not know the urban development rating, however the relevant certificate will be applied for at the council office corresponding to the location of the property mentioned in this contract. The buyer will not be responsible for any problem which could arise from this aspect which will be considered as a resolution clause of this contract. The buyer accepts the current physical state of the property.

VII: Saneamiento. El vendedor responde de saneamiento y evicciŘn con arreglo a derecho y transmite la finca libre de cargas y ocupantes

VII: Compensation. The seller is responsible for compensation and eviction in accordance with any legal requisites and transfers the property without charges and occupants.›

Si el vendedor desistiera de la venta vendr∑ obligado a devolver duplicadas las arras recibidas conforme al artŐculo 1.454 del CŘdigo Civil.

Should the seller refuses to go through with the sale, he will be obliged to pay twice the amount of the down payment received in accordance with article 1.454 of the Spanish Civil Code.

CUARTO. Habida cuenta la naturaleza de este contrato, no se da la posesiŘn de la finca vendida, la cual se dar∑ en el momento de perfeccionarse la compraventa y por lo tanto de completarse el precio de la misma y otorgarse la escritura notarial de compraventa.

FOURTH. In view of the nature of this contract, possession (keys) of the sold property will not be given until the purchase is completed, with the full price having been paid, and the notarial deed having been drawn up and signed.

QUINTO. Para cualquier incidencia o conflicto derivado del presente contrato, de su cumplimiento, ejecuciŘn o rescisiŘn, las partes se someten a los Juzgados y Tribunales de _________, con renuncia expresa a cualquier otro fuero, jurisdicciŘn por domicilio en el extranjero.

Y en prueba de conformidad, firman el presente en la ciudad y fecha arriba indicadas.

Comprador

 


Vendedor

 

FIFTH. In the case of any incident or dispute arising from this contract, its compliance, implementation or termination, both parties agree to put the case before the legal jurisdiction of the courts of __________, and expressly renounce any other arbitration or jurisdiction resulting from foreign residence.

In acceptance with all that is stated, both parties sign this document in the city and on the date indicated above.

Buyer

 


Seller