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Real Estate Agreement Contract for the United Kingdom

Real Estate Agreement Contract Template for England and Wales

A Real Estate Agreement Contract is a legally binding document used in England and Wales for the sale and purchase of real property. It sets out the terms and conditions of the property transaction, including the purchase price, completion date, and any special conditions. The document must comply with the Law of Property Act 1925 and related legislation, requiring formal execution and containing specific statutory requirements for land transactions in the jurisdiction.

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What is a Real Estate Agreement Contract?

The Real Estate Agreement Contract serves as the primary legal instrument for property transactions in England and Wales. It is essential when transferring ownership of real property, whether residential or commercial. This document incorporates mandatory elements required by English law, including precise property details, purchase price, completion arrangements, and title guarantees. The contract must comply with the Law of Property (Miscellaneous Provisions) Act 1989, requiring signed written documentation. It's typically prepared following exchange of preliminary contracts and before completion of the property transfer.

What sections should be included in a Real Estate Agreement Contract?

1. Parties: Details of all parties involved in the transaction

2. Background: Context and purpose of the agreement

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the property including title number

5. Purchase Price: Amount and payment terms

6. Completion: Completion date and requirements

7. Title: Title guarantees and restrictions

8. Governing Law: Jurisdiction and applicable law

What sections are optional to include in a Real Estate Agreement Contract?

1. Conditions Precedent: Used when completion depends on specific conditions being met, typically in complex transactions with prerequisites

2. Vacant Possession: Property handover conditions, required when the property is currently occupied

3. Environmental Matters: Environmental warranties and indemnities, particularly relevant for commercial properties or properties with known environmental issues

What schedules should be included in a Real Estate Agreement Contract?

1. Schedule 1 - Property Details: Detailed property specification and plans

2. Schedule 2 - Title Documents: List of relevant title documents

3. Schedule 3 - Fixtures and Fittings: Inventory of included items

4. Appendix A - Property Plans: Official plans and drawings

5. Appendix B - Search Results: Results of property searches

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

England and Wales

Publisher

Ƶ

Cost

Free to use
Relevant legal definitions












































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Industries

Law of Property Act 1925: Foundational legislation establishing fundamental land law principles, legal estates and interests in land, and basic requirements for land contracts in England and Wales

Land Registration Act 2002: Governs the registration of land ownership, sets out registration requirements, priority of interests, and provisions for electronic conveyancing

Law of Property (Miscellaneous Provisions) Act 1989: Establishes formal requirements for property contracts, particularly Section 2 which requires contracts to be in writing and contain all terms

Housing Act 2004: Sets standards for property conditions, health and safety requirements, and regulations for Houses in Multiple Occupation (HMO)

Landlord and Tenant Act 1985: Defines basic rights and obligations of landlords and tenants, including repair responsibilities and fitness for habitation

Commonhold and Leasehold Reform Act 2002: Regulates leasehold property management and introduces commonhold as an alternative to leasehold ownership

Consumer Rights Act 2015: Provides protection for consumers in property transactions, particularly relevant for residential property dealings

Estate Agents Act 1979: Regulates estate agent conduct and provides consumer protection in property transactions

Land Charges Act 1972: Governs the registration of charges and other interests affecting unregistered land

RICS Guidelines: Professional standards and guidelines set by the Royal Institution of Chartered Surveyors for property professionals

Money Laundering Regulations: Requirements for identity verification and due diligence in property transactions to prevent money laundering

Property Misdescriptions Regulations: Guidelines to prevent false or misleading property descriptions in marketing and sales

Energy Performance Certificate Requirements: Mandatory energy efficiency assessments and certificates required for property sales and lettings

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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