The Commercial Real Estate Purchase Agreement is a crucial legal document used in Australian property transactions when transferring ownership of commercial real estate from a seller to a buyer. It is essential for any commercial property purchase in Australia, whether for office buildings, retail spaces, industrial facilities, or other commercial uses. The agreement incorporates relevant Australian federal and state legislation, including property law, contract law, and commercial regulations. It contains comprehensive provisions covering property details, purchase terms, due diligence requirements, warranties, and settlement procedures. This document is particularly important as it provides legal certainty and protection for both parties while ensuring compliance with Australian property transfer requirements, tax obligations, and other regulatory matters.
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1. Parties: Identifies and provides full legal details of the buyer and seller
2. Background: Contextual information about the transaction and property
3. Definitions: Defines key terms used throughout the agreement
4. Property Description: Detailed description of the property including lot number, title reference, address, and included fixtures/fittings
5. Purchase Price: Specifies the purchase price, deposit amount, and payment terms
6. Settlement: Details of the settlement process, timing, and requirements
7. Due Diligence: Buyer's rights and timeframes for property investigations and inspections
8. Conditions Precedent: Conditions that must be satisfied before settlement can occur
9. Title and Transfer: Provisions regarding transfer of title and associated requirements
10. Warranties: Seller's warranties about the property and business
11. Risk and Insurance: Allocation of risk and insurance requirements before and after settlement
12. Default and Termination: Consequences of default and termination rights
13. GST: GST treatment of the transaction
14. Costs and Stamp Duty: Allocation of transaction costs and stamp duty obligations
15. Notices: Process for giving formal notices under the agreement
16. General Provisions: Standard boilerplate clauses including governing law, entire agreement, etc.
17. Execution: Formal execution provisions and signing pages
1. Tenant Provisions: Required when the property is sold subject to existing tenancies, covering lease details and obligations
2. Environmental Matters: Required when there are specific environmental issues or compliance requirements
3. Development Approvals: Include when the property has existing development approvals or applications
4. Foreign Investment: Required when the buyer is a foreign person or entity requiring FIRB approval
5. Building and Pest: Optional provisions for building and pest inspection conditions
6. Finance: Include when the purchase is subject to finance approval
7. Management Rights: Required for properties with existing management rights arrangements
8. Service Contracts: Include when the property has ongoing service contracts to be assigned
1. Property Schedule: Detailed property description, title information, and encumbrances
2. Disclosure Schedule: Seller's disclosures about the property and any known issues
3. Tenancy Schedule: Details of all existing tenancies, including key lease terms
4. Inventory: List of included chattels, fixtures, and fittings
5. Due Diligence Checklist: List of documents and information to be provided for due diligence
6. Service Contracts Schedule: Details of ongoing service contracts affecting the property
7. Settlement Checklist: List of items to be delivered or completed at settlement
8. Form of Transfer: Prescribed transfer document required for settlement
9. Special Conditions: Any additional conditions specific to the transaction
10. Property Certificate: Current title search and registered encumbrances
Relevant legal definitions
Clauses
Relevant Industries
Commercial Real Estate
Retail
Industrial
Office Space
Hospitality
Healthcare
Mixed Use Development
Warehousing
Manufacturing
Professional Services
Tourism and Leisure
Relevant Teams
Legal
Real Estate
Property Management
Finance
Corporate Development
Facilities
Operations
Compliance
Risk Management
Asset Management
Investment
Due Diligence
Relevant Roles
Real Estate Lawyer
Property Lawyer
Commercial Property Manager
Real Estate Agent
Property Developer
Business Owner
Chief Executive Officer
Chief Financial Officer
Property Investment Manager
Facilities Manager
Development Manager
Asset Manager
Real Estate Broker
Property Valuer
Legal Counsel
Conveyancer
Commercial Property Consultant
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