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Real Estate Buy And Sell Agreement for the United Kingdom

Real Estate Buy And Sell Agreement Template for England and Wales

A legally binding agreement governed by the laws of England and Wales that facilitates the transfer of real property from seller to buyer. The agreement sets out the terms and conditions of sale, including property details, purchase price, completion date, and obligations of both parties. It incorporates requirements under the Law of Property Act 1925 and related legislation, ensuring compliance with land registration and property transfer regulations in England and Wales.

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What is a Real Estate Buy And Sell Agreement?

The Real Estate Buy And Sell Agreement is a fundamental document in property transactions within England and Wales. It is used when transferring ownership of real property between parties, whether residential or commercial. The agreement encompasses essential elements required by English law, including property description, price, completion terms, and title guarantees. It serves as the primary contract governing the relationship between buyer and seller, incorporating necessary protections and obligations for both parties. This document must comply with the Law of Property Act 1925 and the Land Registration Act 2002, among other relevant legislation.

What sections should be included in a Real Estate Buy And Sell Agreement?

1. Parties: Identification of buyer and seller with full legal names and addresses

2. Background: Context of the transaction and brief property description

3. Definitions: Key terms used throughout the agreement

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

5. Purchase Price: Amount and payment terms

6. Completion Date: Date for completion of the sale

7. Title Guarantee: Seller's covenant regarding title

8. Vacant Possession: Commitment to provide vacant possession on completion

What sections are optional to include in a Real Estate Buy And Sell Agreement?

1. Deposit Provisions: Terms relating to deposit payment and holding - used when a deposit is required

2. Mortgage Contingency: Conditions relating to buyer's mortgage arrangement - used when buyer requires mortgage financing

3. Fixtures and Fittings: Details of included/excluded items - used when specific items need to be addressed

4. Chain Provisions: Conditions relating to property chain - used when part of a property chain

What schedules should be included in a Real Estate Buy And Sell Agreement?

1. Property Plan: Official plan showing property boundaries

2. Fixtures and Fittings Inventory: Detailed list of included/excluded items

3. Title Documents: Copies of relevant title documents

4. Property Information Form: Standard form containing property details and disclosures

5. Energy Performance Certificate: Mandatory energy efficiency rating document

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: Fundamental legislation governing real property transactions in England and Wales. Defines legal estates and interests in land and sets out requirements for contracts and conveyancing.

Land Registration Act 2002: Covers requirements for registration of property, proof of title, and priority of interests in land. Essential for ensuring proper registration and transfer of property rights.

Law of Property (Miscellaneous Provisions) Act 1989: Section 2 specifies requirements for contracts to be in writing and signed. Sets out formal validity requirements for property contracts.

Consumer Protection from Unfair Trading Regulations 2008: Applies when selling to consumers, covering disclosure requirements and misrepresentation provisions to protect buyers.

Estate Agents Act 1979: Regulates estate agent involvement in property transactions, including disclosure requirements and commission arrangements.

Money Laundering Regulations 2017: Specifies identity verification requirements and source of funds checks necessary in property transactions.

Landlord and Tenant Act 1987: Relevant for leasehold properties, including right of first refusal provisions and other leasehold-specific requirements.

Housing Act 2004: Sets out property condition requirements and health and safety standards that must be met in residential properties.

Planning and Building Regulations: Ensures compliance with planning permission and building regulation approval requirements for property developments and modifications.

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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