The Simple Commercial Real Estate Purchase Agreement is designed for use in Australian commercial property transactions where parties seek a streamlined approach to documenting their sale agreement. This document is particularly suitable for straightforward commercial property purchases where complex special conditions or unusual terms are not required. It incorporates all essential elements required under Australian property law, including provisions for property transfer, settlement procedures, and statutory compliance, while maintaining accessibility for business users. The agreement is structured to comply with both federal and state-specific requirements for commercial property transactions, making it suitable for use across Australian jurisdictions with appropriate state-specific modifications.
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1. Parties: Identification of the Vendor and Purchaser, including full legal names, ACN/ABN if applicable, and addresses
2. Background: Context of the transaction, brief description of the property, and purpose of the agreement
3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules for interpreting the document
4. Property Description: Detailed description of the property including lot number, title reference, address, and included fixtures/fittings
5. Purchase Price: Agreed purchase price, deposit amount, and payment terms
6. Deposit: Amount, payment timing, holding arrangements, and conditions for release or forfeiture
7. Settlement: Settlement date, time, location, and requirements for completion
8. Title and Transfer: Warranties regarding title, transfer process, and registration requirements
9. Adjustments: Protocol for adjusting rates, taxes, rents and outgoings at settlement
10. Vendor Warranties: Standard warranties about the property's condition, title, and encumbrances
11. Purchaser Warranties: Warranties regarding capacity to purchase and financial ability
12. Default and Termination: Consequences of default and termination rights
13. GST: GST treatment of the sale and required declarations
14. Notices: Process for giving and receiving formal notices under the agreement
15. General Provisions: Standard legal provisions including governing law, entire agreement, and variation requirements
1. Due Diligence: Used when the purchaser requires a due diligence period to investigate the property. Includes conditions, timeframes, and termination rights
2. Finance Condition: Include when the purchase is subject to the purchaser obtaining finance approval
3. Environmental Matters: Required when there are known environmental issues or investigations needed
4. Existing Tenancies: Include when the property is sold subject to existing lease agreements
5. Development Approvals: Necessary when the sale is conditional on obtaining specific planning or development approvals
6. FIRB Approval: Required when the purchaser is a foreign person requiring FIRB approval
7. Building and Pest Inspection: Used when the agreement is conditional on satisfactory building and pest inspections
8. Stock and Equipment: Include when the sale includes business assets beyond the real estate
1. Property Schedule: Detailed property description including title particulars, encumbrances, and easements
2. Included Chattels: Itemized list of fixtures, fittings, and other items included in the sale
3. Excluded Items: List of items specifically excluded from the sale
4. Special Conditions: Any additional conditions specific to this transaction
5. Disclosure Statement: Required disclosures about the property's condition and known issues
6. Existing Leases: Details of any existing lease agreements affecting the property
7. Form of Transfer: Prescribed transfer document required for settlement
8. Due Diligence Checklist: List of items to be investigated during due diligence period
9. Settlement Requirements: Detailed list of documents and requirements for settlement
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Commercial Property
Retail
Industrial
Manufacturing
Professional Services
Healthcare
Hospitality
Warehouse and Logistics
Financial Services
Technology
Relevant Teams
Legal
Real Estate
Property Management
Operations
Finance
Compliance
Risk Management
Corporate Development
Facilities Management
Business Development
Investment
Relevant Roles
Real Estate Agent
Property Manager
Commercial Property Lawyer
Conveyancer
Business Owner
Chief Executive Officer
Chief Financial Officer
Property Developer
Investment Manager
Asset Manager
Facilities Manager
Legal Counsel
Commercial Director
Operations Manager
Risk Manager
Compliance Officer
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