The Purchase Agreement For Commercial Property is a crucial document used in Swiss real estate transactions when transferring ownership of commercial properties. It serves as the primary legal instrument that defines the terms and conditions of the sale, ensuring compliance with Swiss federal and cantonal laws. This document is essential when acquiring office buildings, retail spaces, industrial facilities, or other commercial properties in Switzerland. It must address specific Swiss legal requirements, including mandatory notarization, land registry requirements, and potential Lex Koller restrictions for foreign buyers. The agreement typically incorporates due diligence findings, environmental assessments, and specific provisions required by Swiss property law. It is particularly important given Switzerland's strict property transfer regulations and the significant financial implications of commercial real estate transactions.
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1. Parties: Identification of the seller and purchaser with full legal names, addresses, and registration details for legal entities
2. Background: Context of the transaction and brief description of the property and intended use
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including land registry details, boundaries, and included fixtures and fittings
5. Purchase Price: Specification of purchase price, payment terms, and deposit requirements
6. Payment Terms: Detailed payment schedule, method of payment, and banking details
7. Conditions Precedent: Conditions that must be satisfied before completion, including regulatory approvals and financing conditions
8. Due Diligence: Buyer's right to conduct due diligence and seller's obligations to provide information
9. Representations and Warranties: Seller's representations regarding the property's condition, title, and compliance with laws
10. Transfer of Ownership: Process and requirements for legal transfer of the property
11. Notarization and Registration: Requirements for notarization and registration in the land registry
12. Costs and Taxes: Allocation of transaction costs, taxes, and fees between parties
13. Handover: Process and timing for physical handover of the property
14. Default and Remedies: Consequences of breach and available remedies
15. Governing Law and Jurisdiction: Confirmation of Swiss law application and jurisdiction
16. Miscellaneous: Standard provisions including notices, amendments, and severability
1. Tenant Rights: Required if the property is subject to existing lease agreements
2. Environmental Provisions: Detailed provisions regarding environmental liability if property has potential contamination issues
3. Development Rights: Included when the property has unused development potential or pending permits
4. Mortgage Arrangements: Required if the purchase involves assumption or creation of mortgages
5. VAT Election: Included when parties opt for VAT taxation of the transaction
6. Foreign Investment Compliance: Required when purchaser is subject to Lex Koller regulations
7. Property Management: Transition provisions for property management if applicable
8. Service Contracts: Provisions regarding existing service contracts if being transferred
9. Parking Rights: Required if separate parking rights or facilities are included
10. Construction Warranties: Required for newly constructed or recently renovated properties
1. Property Plans: Official land registry plans and building plans
2. Title Documents: Extract from land registry and existing easements
3. Inventory: List of included fixtures, fittings, and equipment
4. Existing Leases: Copies of all current lease agreements
5. Due Diligence Reports: Technical, environmental, and legal due diligence reports
6. Building Permits: Copies of existing building permits and certificates
7. Service Contracts: List and copies of transferring service contracts
8. Insurance Certificates: Current building insurance certificates
9. Environmental Reports: Environmental assessment reports and certificates
10. Property Tax Assessment: Current property tax assessment and payment status
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