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Sell And Buy Agreement
"I need a Sale and Purchase Agreement for a commercial property in Auckland, New Zealand, with settlement scheduled for March 2025, including specific provisions for existing tenant rights and GST requirements as both parties are GST-registered."
1. Parties: Identification of the vendor and purchaser with full legal names and addresses
2. Background: Context of the sale and purchase transaction
3. Definitions and Interpretation: Key terms used throughout the agreement and rules for interpretation
4. Property Description: Detailed description of the property including legal description and certificate of title details
5. Purchase Price: The agreed purchase price and payment terms including deposit requirements
6. Settlement: Settlement date, time, and process including requirements for payment and property transfer
7. Title and Transfer: Provisions relating to transfer of title and requirements for registration
8. Warranties and Undertakings: Standard warranties given by both parties regarding the property and transaction
9. Due Diligence: Terms for the purchaser's investigation of the property and related matters
10. Pre-settlement Obligations: Obligations of both parties between agreement signing and settlement
11. Default: Consequences of default by either party and available remedies
12. General Provisions: Standard legal provisions including notices, governing law, and dispute resolution
13. Execution: Signing provisions and execution blocks for all parties
1. Conditions Precedent: Specific conditions that must be satisfied before the agreement becomes unconditional, used when the purchase is subject to finance, building inspection, or other conditions
2. Chattels: List and terms relating to moveable items included in the sale, used when specific items are being included or excluded
3. Tenancies: Details of existing tenancies and related obligations, used when the property is sold with tenants in place
4. GST Provisions: Detailed GST treatment of the transaction, used when either party is GST registered or the property is part of a taxable activity
5. Unit Title Provisions: Specific provisions required for unit title properties, used for apartments or units under the Unit Titles Act
6. Development Provisions: Special terms for properties under development or recently completed, used for off-plan purchases
7. Overseas Investment Provisions: Additional requirements for foreign buyers, used when purchaser requires OIO consent
1. Property Schedule: Detailed description of the property including boundaries, easements, and encumbrances
2. Chattels Schedule: Itemized list of all chattels included in the sale
3. Warranties Schedule: Detailed vendor warranties about the property's condition and compliance
4. Due Diligence Schedule: Specific requirements and timeframes for due diligence investigations
5. Certificate of Title: Copy of the current title for the property
6. LIM Report: Land Information Memorandum report from the local council if already obtained
7. Tenancy Schedule: Details of existing tenancies including lease terms and current rent
8. Building Report: Any existing building inspection reports or property condition assessments
Authors
Real Estate
Property Development
Construction
Banking and Finance
Legal Services
Property Management
Commercial Property
Residential Property
Agricultural
Retail Property
Legal
Real Estate
Property Management
Corporate Affairs
Acquisitions
Risk Management
Compliance
Finance
Commercial
Operations
Property Lawyer
Real Estate Agent
Property Manager
Commercial Property Manager
Legal Counsel
Conveyancing Lawyer
Property Developer
Bank Manager
Mortgage Broker
Property Investment Manager
Corporate Lawyer
Settlement Officer
Due Diligence Manager
Real Estate Transaction Coordinator
Property Investment Advisor
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