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Wholesale Real Estate Contract Template for Ireland

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Key Requirements PROMPT example:

Wholesale Real Estate Contract

"I need a Wholesale Real Estate Contract under Irish law for a commercial property in Dublin city center, with a 45-day assignment period and the ability to assign to multiple potential buyers by March 2025."

Document background
The Wholesale Real Estate Contract is a specialized legal instrument used in the Irish property market when an investor or wholesaler intends to contract for the purchase of a property with the explicit right to assign the contract to another buyer before closing. This document type is particularly relevant in situations where investors identify property opportunities but intend to transfer their purchase rights to end buyers for a profit. The contract must comply with Irish property law, including the Land and Conveyancing Law Reform Act 2009, while incorporating specific provisions for assignment rights, due diligence periods, and wholesale-specific terms. It includes comprehensive provisions for property description, purchase terms, assignment procedures, and closing requirements, making it suitable for both residential and commercial property transactions in Ireland.
Suggested Sections

1. Parties: Identification of the seller, wholesale buyer (investor), and their respective contact details and legal status

2. Background: Context of the transaction, including property overview and intention for wholesale arrangement

3. Definitions: Key terms used throughout the agreement, including specific wholesale and assignment-related terminology

4. Property Details: Comprehensive description of the property, including legal description, folio number, and current usage

5. Purchase Price and Payment Terms: Agreement on purchase price, deposit amount, payment schedule, and funding conditions

6. Assignment Rights: Explicit rights and procedures for the wholesale buyer to assign the contract to an end buyer

7. Due Diligence Period: Timeframe and conditions for property inspection, title review, and other investigations

8. Closing and Completion: Requirements and procedures for closing, including documentation and timing requirements

9. Representations and Warranties: Statements of fact and promises by both parties regarding the property and transaction

10. Default and Remedies: Consequences and available remedies if either party fails to perform

11. Risk and Insurance: Allocation of risk and insurance requirements during the contract period

12. Notices: Process and requirements for formal communications between parties

13. Governing Law: Confirmation of Irish law governance and jurisdiction

Optional Sections

1. Property Management During Contract Period: Used when the property requires maintenance or management between contract signing and closing

2. Tenant Provisions: Required if the property is currently tenanted, addressing lease agreements and tenant rights

3. Planning Permissions: Included when the property has pending or required planning permissions relevant to its value

4. Environmental Provisions: Added when environmental issues or assessments are relevant to the property

5. Special Conditions: Used for unique property features or transaction requirements

6. VAT Provisions: Required when the transaction has VAT implications

7. Mortgage Contingency: Included when the assignment buyer may require mortgage financing

Suggested Schedules

1. Schedule 1 - Property Description: Detailed legal description, boundaries, and included fixtures and fittings

2. Schedule 2 - Due Diligence Documents: List of required documentation for property verification

3. Schedule 3 - Title Documents: List of title deeds and related documentation

4. Schedule 4 - Assignment Agreement Template: Standard form for executing assignment to end buyer

5. Schedule 5 - Property Condition Report: Current condition assessment and known issues

6. Appendix A - Property Plans and Maps: Official property maps and floor plans

7. Appendix B - Planning Documentation: Relevant planning permissions and certificates

8. Appendix C - Search Results: Results of legal and planning searches

Authors

Alex Denne

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

Relevant legal definitions
Clauses



































Relevant Industries

Real Estate

Property Development

Construction

Legal Services

Financial Services

Investment

Property Management

Commercial Property

Residential Property

Urban Development

Relevant Teams

Legal

Real Estate

Property Development

Acquisitions

Investment

Asset Management

Risk Management

Compliance

Finance

Operations

Relevant Roles

Real Estate Investor

Property Developer

Real Estate Agent

Property Lawyer

Conveyancing Solicitor

Investment Manager

Property Portfolio Manager

Real Estate Broker

Acquisition Manager

Legal Counsel

Property Consultant

Development Director

Real Estate Fund Manager

Asset Manager

Transaction Manager

Industries










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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