Purchase Sale Agreement Commercial (Real Estate)

Purchase Sale Agreement Commercial (Real Estate) Template for Ireland

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Key Requirements PROMPT example:

"I need a Purchase Sale Agreement Commercial (Real Estate) for an office building in Dublin with existing tenants, where completion needs to happen by March 2025, and the agreement must include specific provisions for the transfer of service contracts and maintenance agreements."

Document background

The Purchase Sale Agreement Commercial (Real Estate) is a fundamental legal document used in Irish commercial property transactions. It is essential when transferring ownership of commercial real estate assets, whether they be office buildings, retail spaces, industrial facilities, or other commercial properties. This document is specifically tailored to comply with Irish property law and commercial practice, incorporating necessary elements from the Land and Conveyancing Law Reform Act 2009 and related legislation. It serves as the primary contract between the vendor and purchaser, detailing purchase price, property specifications, warranties, conditions precedent, and completion requirements. The agreement is particularly important in protecting both parties' interests and ensuring a clear framework for the transaction, including handling of deposits, title transfer, and post-completion obligations.

Suggested Sections

1. Parties: Identifies and defines all parties to the agreement, including full legal names and addresses

2. Background: Provides context for the transaction and brief description of the property

3. Definitions and Interpretation: Defines key terms used throughout the agreement and establishes interpretation rules

4. Sale and Purchase: Core agreement to sell and purchase the property, including the basic terms

5. Purchase Price: Specifies the purchase price, payment terms, and deposit requirements

6. Conditions Precedent: Lists conditions that must be satisfied before completion

7. Title and Capacity: Vendor's warranties regarding ownership and authority to sell

8. Property Condition: Warranties and representations regarding the property's condition

9. Planning and Development: Warranties regarding planning permissions and compliance

10. Completion: Details of the completion process and requirements

11. Post-Completion: Obligations after completion, including registration requirements

12. Tax Provisions: Addresses VAT, stamp duty, and other tax matters

13. Notices: Specifies how formal notices should be given between parties

14. General Provisions: Standard boilerplate clauses including governing law

15. Execution: Signature blocks and execution formalities

Optional Sections

1. Existing Tenancies: Required when the property is sold subject to existing leases or tenancies

2. Environmental Matters: Needed for properties with potential environmental concerns or specific requirements

3. Service Contracts: Include when there are ongoing service contracts to be transferred

4. Intellectual Property: Required when the sale includes trading names or other IP associated with the property

5. Employees: Necessary when the sale involves transfer of employees under TUPE regulations

6. Development Rights: Include when there are specific development opportunities or restrictions

7. Contamination and Hazardous Substances: Required for industrial properties or sites with potential contamination

8. Asset List: Needed when the sale includes significant fixtures, fittings, or equipment

Suggested Schedules

1. Property Description: Detailed description of the property including maps and plans

2. Title Documents: List of title documents and copies of relevant certificates

3. Existing Tenancies Schedule: Details of all existing leases and tenancy agreements

4. Warranties: Comprehensive list of vendor warranties

5. Environmental Reports: Copies of environmental surveys and reports

6. Planning Permissions: Copies of all relevant planning permissions and certificates

7. Service Contracts: List and copies of service contracts to be transferred

8. Property Searches: Results of local authority and other relevant searches

9. VAT Election: VAT documentation and elections if applicable

10. Disclosure Letter: Vendor's disclosures against warranties

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Commercial Property Development

Retail

Manufacturing

Hospitality

Healthcare

Professional Services

Industrial

Technology

Banking and Finance

Construction

Logistics

Education

Relevant Teams

Legal

Real Estate

Finance

Compliance

Risk Management

Facilities Management

Property Management

Business Development

Operations

Investment

Corporate Development

Asset Management

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Real Estate Director

Property Manager

Commercial Director

Legal Counsel

Property Lawyer

Real Estate Partner

Facilities Manager

Asset Manager

Investment Director

Development Director

Property Surveyor

Commercial Property Agent

Risk Manager

Compliance Officer

Transaction Manager

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Let's create your Purchase Sale Agreement Commercial (Real Estate)

Authors

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