Home For Sale By Owner Purchase Agreement

Home For Sale By Owner Purchase Agreement Template for Denmark

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Document background

The Home For Sale By Owner Purchase Agreement is a crucial legal document used in Denmark when property owners choose to sell their residential property directly to buyers without the involvement of real estate agents. This approach, while potentially cost-saving, requires a comprehensive agreement that ensures full compliance with Danish property law and protects both parties' interests. The document incorporates mandatory elements required by Danish legislation, including property disclosure requirements, energy performance certificates, and specific provisions for property registration. It serves as both a binding contract and a roadmap for the transaction, detailing everything from initial offer acceptance to final property transfer. This type of agreement is particularly relevant in the current real estate market where many sellers seek to manage their own property sales while maintaining legal compliance and transaction security.

Suggested Sections

1. Parties: Identification and contact details of the seller and buyer, including their full legal names, addresses, and civil registration numbers (CPR)

2. Background: Brief context of the sale and confirmation that the seller owns the property and has the right to sell it

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Description: Detailed description of the property including address, land registry details, property size, and included fixtures and fittings

5. Purchase Price: The agreed purchase price, payment terms, and deposit requirements

6. Payment Terms: Details of how and when payments will be made, including deposit handling and final settlement

7. Closing Date: The agreed date for final settlement and transfer of ownership

8. Property Condition: Current condition of the property, known defects, and recent inspections

9. Seller's Representations: Seller's warranties regarding property condition, encumbrances, and legal status

10. Buyer's Representations: Buyer's acknowledgments and confirmations regarding property inspection and financing

11. Transfer of Ownership: Process and requirements for legal transfer of the property

12. Costs and Taxes: Attribution of transaction costs, property taxes, and utilities

13. Default and Remedies: Consequences of breach by either party and available remedies

14. Governing Law: Confirmation that Danish law governs the agreement

15. Signatures: Execution blocks for all parties and witnesses

Optional Sections

1. Mortgage Assumption: Terms for buyer's assumption of existing mortgage, if applicable

2. Contingencies: Conditions that must be met before the sale becomes binding, such as buyer obtaining financing or selling their current home

3. Tenant Rights: If the property is currently tenanted, details of existing lease agreements and tenant rights

4. Property Management: Interim management arrangements between contract signing and closing

5. Environmental Matters: Specific environmental issues or requirements, if relevant

6. Building Permits: Details of any pending or required building permits or ongoing construction

7. Right of First Refusal: Any existing rights of first refusal that need to be addressed

8. Post-Closing Occupancy: Terms for seller's temporary occupancy after closing, if needed

Suggested Schedules

1. Property Details: Detailed description of the property, including floor plans and land registry information

2. Fixtures and Fittings: Itemized list of included and excluded fixtures and fittings

3. Property Inspection Report: Recent property inspection findings and condition assessment

4. Energy Performance Certificate: Mandatory energy performance rating and certificate

5. Title Documents: Copies of relevant title documents and property registration

6. Existing Encumbrances: List of any existing mortgages, easements, or other encumbrances

7. Property Plans: Official property plans and surveys

8. Property Insurance: Details of existing insurance and requirements for transfer

9. Utilities and Services: List of connected utilities and service contracts

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