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Agreement To Buy Property
"I need an Agreement to Buy Property for a commercial warehouse purchase in Melbourne, with settlement scheduled for March 2025, including specific provisions for existing tenant rights and environmental compliance requirements."
1. Parties: Identifies and provides full details of the vendor(s) and purchaser(s)
2. Background: Sets out the context of the sale and basic premises of the agreement
3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation principles
4. Property Details: Comprehensive description of the property including title details, boundaries, and included fixtures/fittings
5. Purchase Price: Specifies the agreed purchase price and payment structure including deposit details
6. Settlement: Details of the settlement process, timing, and requirements
7. Vendor Warranties: Standard warranties provided by the vendor regarding the property's title, condition, and encumbrances
8. Purchaser Warranties: Standard warranties provided by the purchaser regarding capacity to purchase and finance
9. Property Transfer: Process and requirements for transferring title and possession
10. Risk and Insurance: Allocation of risk and insurance requirements before and after settlement
11. Default and Termination: Consequences of default by either party and termination rights
12. GST: GST treatment of the sale and associated obligations
13. Notices: Process for giving and receiving formal notices under the agreement
14. General Provisions: Standard boilerplate clauses including governing law, entire agreement, and variation
1. Existing Tenancies: Required when the property is sold with existing tenants, addressing their rights and ongoing tenancy
2. Swimming Pool Compliance: Required when the property includes a swimming pool, addressing compliance certificates and requirements
3. Foreign Investment: Required when the purchaser is a foreign person or entity, addressing FIRB approval requirements
4. Building and Pest Inspection: Optional section for when the purchase is conditional on satisfactory inspections
5. Finance Condition: Optional section for when the purchase is subject to finance approval
6. Development Approvals: Required when the property has existing development approvals or applications
7. Off-the-Plan Provisions: Required for off-the-plan purchases, including sunset dates and completion requirements
8. Body Corporate: Required for strata-titled properties, addressing body corporate requirements and disclosures
1. Property Schedule: Detailed description of the property including title reference, lot details, and included fixtures
2. Purchase Price Schedule: Breakdown of the purchase price, deposit, and payment terms
3. Disclosure Schedule: Required statutory disclosures and property-specific disclosures
4. Excluded Chattels: List of items specifically excluded from the sale
5. Special Conditions: Any special conditions agreed between the parties
6. Form of Transfer: Prescribed form of transfer document to be executed at settlement
7. Existing Tenancy Details: Details of any existing tenancies including lease terms and tenant information
8. Outstanding Notices: Copy of any outstanding notices affecting the property
Authors
Real Estate
Residential Property
Commercial Property
Industrial Property
Agricultural Property
Retail Property
Property Development
Construction
Banking and Finance
Legal Services
Property Management
Investment Services
Agricultural
Hospitality
Legal
Real Estate
Property Management
Acquisitions
Investment
Compliance
Operations
Finance
Risk Management
Commercial
Corporate Services
Document Control
Administration
Property Lawyer
Conveyancer
Real Estate Agent
Property Manager
Legal Counsel
Contract Manager
Property Developer
Investment Manager
Commercial Director
Acquisitions Manager
Real Estate Investment Manager
Property Portfolio Manager
Settlement Agent
Compliance Officer
Legal Administrator
Real Estate Broker
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