A Detailed Agreement for the Sale of a Hardware Store

This detailed agreement sets forth the terms and conditions for the sale of a hardware store, including the purchase price, payment methods, and ownership rights. The parties agree to sell and buy the hardware store at a fixed price and in exchange for agreed upon consideration. The buyer will make payments to the seller via cash or bank transfer, with the final payment due within thirty days of the closing date. Additionally, the buyer agrees to assume all existing debts and liabilities associated with the hardware store, including any outstanding lease payments. The seller will retain ownership of the hardware store until the final payment is made, and will provide necessary documentation and support during the transition period. This agreement serves as a formal document that outlines the terms and responsibilities of both parties involved in the transaction.

I. Introduction

This agreement is made and entered into by and between __________ (the seller), who is hereinafter referred to as "Seller", and __________ (the buyer), who is hereinafter referred to as "Buyer", with the intent to sell and purchase real estate, which includes the hardware store located at __________ Street, _____ City, ________ Province, China. This agreement constitutes the entire understanding between both parties on all matters concerning this transaction.

II. Seller's Rights and Obligations

1、The Seller shall transfer all rights and interests in the hardware store to the Buyer, including all equipment, inventory, fixtures, and other assets within the premises, without any defects or liabilities.

2、The Seller shall provide accurate and complete information about the hardware store, including its location, size, operating hours, and current inventory.

3、The Seller shall pay the Buyer's down payment of __________ __________ (RMB) within __________ days of signing this agreement, which shall be used for the purchase price of the hardware store.

4、The Seller shall pay the Buyer's earnest money equivalent to 5% of the total purchase price of the hardware store during the escrow period.

5、The Seller shall provide the Buyer with necessary permits and licenses required for the operation of the hardware store, as well as any other relevant documentation.

6、The Seller shall not assign any rights or obligations under this agreement to third parties without the Buyer's written consent.

7、The Seller shall not use the proceeds from the sale of the hardware store to acquire any other property or assets, except for the repayment of the Buyer's down payment and earnest money.

8、Upon completion of the transaction, the Seller shall immediately transfer ownership and operational rights to the Buyer.

III. Buyer's Rights and Obligations

1、The Buyer shall have the right to inspect the hardware store and its surroundings at any time before signing this agreement.

2、The Buyer shall pay the Seller's down payment of __________ __________ (RMB) within __________ days of signing this agreement, which shall be used for the purchase price of the hardware store.

3、The Buyer shall provide truthful and complete information about their intentions to purchase the hardware store, including their business plan and expected return on investment.

4、The Buyer shall pay the Seller's earnest money equivalent to 5% of the total purchase price of the hardware store during the escrow period.

5、The Buyer shall provide the Seller with necessary permits and licenses required for the operation of the hardware store, as well as any other relevant documentation.

6、The Buyer shall not assign any rights or obligations under this agreement to third parties without the Seller's written consent.

7、Upon completion of the transaction, the Buyer shall immediately transfer ownership and operational rights to the Seller.

IV. Escrow Period and Payment

The escrow period shall commence from the date of signing this agreement until the day of actual possession of the hardware store. During the escrow period, the Buyer shall pay to a bank designated by both parties a sum equal to 20% of the total purchase price of the hardware store as a deposit, which shall be held in escrow for the duration of the escrow period.

Upon completion of the escrow period, if all conditions are met, the Buyer shall pay the remaining amount due to the Seller, which shall be used for the purchase price of the hardware store. If there are any disputes or issues that cannot be resolved through communication, either party may apply to arbitration for mediation.

V. Transfer of Ownership and Operational Rights

Upon completion of the transaction, the Seller shall immediately transfer ownership and operational rights to the Buyer. The Buyer shall assume all responsibilities and obligations related to the hardware store, including but not limited to maintaining good relations with customers, complying with laws and regulations, managing inventory, handling sales, and maintaining good working conditions for employees.

VI. Dispute Resolution

If any dispute arises during the execution of this agreement, both parties shall first try to reach a settlement through communication and negotiation. If no solution can be reached through communication, either party may submit it to an independent mediator or arbitrator for mediation or arbitration, who shall render a final judgment within 30 days from the date of application.

VII. Miscellaneous

1、This agreement shall be executed in two parts. Part I shall be signed by both parties before the actual transfer of ownership; Part II shall be executed after the transfer of ownership and operational rights is completed.

2、If either party fails to fulfill any obligations under this agreement, they shall compensate the other party for any losses resulting from such failure.

3、This agreement is subject to Chinese law and shall be governed by its laws and regulations. If any provision of this agreement is found to be invalid or unenforceable, the validity and enforceability of the remaining provisions of this agreement shall not be affected.

4、This agreement shall remain valid until all conditions specified in Part II are met, upon which Part II shall be executed.

5、This agreement shall become effective upon signing by both parties and shall take effect on the day following signature, provided that the Buyer has paid the deposit mentioned in Part II.

6、Any modifications or supplements to this agreement must be signed by both parties and shall be recorded in writing.

7、This agreement is subject to review by legal advisors of both parties prior to execution.

VIII. Signatures

Seller: [Full Name] | Phone: [Phone Number | Date: [Date]

Buyer: [Full Name] | Phone: [Phone Number | Date: [Date]

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