The Intent To Purchase Agreement is a crucial document in Belgian transaction practice, particularly in real estate and significant asset purchases. It serves as the initial binding agreement between parties, creating legal obligations while allowing for necessary due diligence and arrangement of financing. This document type is especially important in the Belgian context as it includes jurisdiction-specific requirements such as statutory cooling-off periods, regional property regulations, and specific certificate requirements. The agreement typically precedes the final purchase deed ('acte authentique'/'authentieke akte') and must comply with Belgian civil law requirements. It should include detailed information about the asset being purchased, precise payment terms, conditions precedent, and completion timelines. The Intent To Purchase Agreement is particularly significant in Belgium as it creates binding obligations once signed, subject only to specifically stated conditions, making it essential to include all necessary protections and requirements.
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1. Parties: Identification and details of the seller(s) and prospective buyer(s), including full legal names, addresses, and identification numbers
2. Background: Context of the transaction and brief description of the parties' intentions
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including address, cadastral details, size, and current usage
5. Purchase Price: Agreed purchase price, payment structure, and deposit requirements
6. Payment Terms: Detailed payment schedule, method of payment, and banking details
7. Conditions Precedent: Conditions that must be met before the final purchase agreement can be concluded
8. Due Diligence: Buyer's right to conduct property investigations and timeline
9. Representations and Warranties: Seller's declarations regarding the property's condition, title, and encumbrances
10. Cooling-off Period: Statutory cooling-off period and conditions for withdrawal
11. Completion Timeline: Timeline for moving to final purchase agreement and completion
12. Governing Law and Jurisdiction: Confirmation of Belgian law application and competent courts
1. Mortgage Clause: Include when buyer requires mortgage financing to complete the purchase
2. Property Occupation: Include when there are current tenants or occupation arrangements to be addressed
3. Urban Planning Compliance: Include when property requires specific urban planning verifications or permits
4. Environmental Conditions: Include when property may have environmental issues or requires environmental certificates
5. Energy Performance: Include when energy performance certificate details need to be specified
6. Co-ownership Provisions: Include for apartments or properties with shared facilities
7. Language Provisions: Include when parties require document in multiple Belgian official languages
1. Property Details Schedule: Detailed technical description of the property, including cadastral excerpts and plans
2. Title Documents: List of relevant title documents and property ownership history
3. Known Encumbrances: List of existing mortgages, easements, or other encumbrances
4. Property Certificates: Copies of required certificates (energy performance, electrical inspection, etc.)
5. Payment Schedule: Detailed breakdown of payment terms and installments
6. Property Inventory: List of items included/excluded from the sale
7. Due Diligence Checklist: List of documents to be provided and verified during due diligence
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