The Contract To Buy (Real Estate) is a crucial document in Belgian property transactions, forming the legally binding agreement between buyer and seller before the execution of the notarial deed. It is used when parties have reached agreement on the essential elements of a property sale and need to document their commitments and conditions. The document must comply with Belgian federal civil law and regional property regulations, including specific requirements for energy performance, soil quality, and urban planning. This contract type typically includes provisions for deposit payment, conditions precedent (such as mortgage financing), property transfer terms, and warranties. It serves as the foundation for the notary to prepare the authentic deed and requires careful consideration of tax implications and registration requirements under Belgian law.
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Key Requirements PROMPT example:
Contract To Buy (Real Estate)
"I need a Contract To Buy (Real Estate) for purchasing a mixed-use commercial/residential property in Brussels, with specific provisions for existing tenant rights and a completion date of March 15, 2025."
1. Parties: Identification of the seller(s) and buyer(s) with full legal details as required by Belgian law
2. Background: Context of the sale and brief property history
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including cadastral details, boundaries, and surface area
5. Purchase Price: Agreed purchase price, payment terms, and deposit requirements
6. Property Transfer: Terms and timing of the property transfer, including notarial requirements
7. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and compliance with regulations
8. Property Condition: Current state of the property and any known defects
9. Pre-Closing Obligations: Requirements before closing, including obtaining certificates and clearances
10. Closing Requirements: Documentation and steps required for closing, including notarial deed execution
11. Costs and Taxes: Allocation of transaction costs, registration fees, and taxes
12. Default and Remedies: Consequences of breach and available remedies
13. Governing Law: Confirmation of Belgian law application and jurisdiction
1. Mortgage Contingency: To be included when purchase is contingent on buyer obtaining mortgage financing
2. Tenant Rights: Required if property is currently leased to tenants
3. Construction Permits: Needed if property involves pending construction or renovation permits
4. Co-ownership Provisions: Required for apartments or properties with shared facilities
5. Environmental Conditions: Required when property has known environmental issues or specific soil conditions
6. Language Provisions: Required in bilingual regions to address language requirements
7. Pre-emption Rights: Required when there are statutory pre-emption rights (e.g., in certain urban areas)
1. Property Plans: Cadastral plans and property measurements
2. Energy Performance Certificate: Mandatory EPC certificate showing energy efficiency rating
3. Soil Certificate: Required regional soil contamination certificate
4. Urban Planning Certificates: Certificates regarding zoning and building compliance
5. Property Title: Extract from land registry proving ownership
6. Insurance Certificates: Proof of current property insurance
7. Technical Installations Report: Certificates for electrical, gas, and water installations
8. Co-ownership Documents: If applicable, recent co-ownership meeting minutes and regulations
9. Property Photographs: Documentary evidence of property condition at time of agreement
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Legal Services
Financial Services
Construction
Property Development
Architecture
Urban Planning
Environmental Services
Insurance
Banking
Relevant Teams
Legal
Real Estate
Property Management
Compliance
Risk Management
Investment
Corporate Development
Facilities Management
Finance
Operations
Relevant Roles
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Notary
Property Developer
Investment Manager
Facilities Manager
Real Estate Investment Analyst
Compliance Officer
Risk Manager
Corporate Counsel
Real Estate Portfolio Manager
Asset Manager
Property Surveyor
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