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As Is Property Sale Agreement for the United Kingdom

As Is Property Sale Agreement Template for England and Wales

An As Is Property Sale Agreement is a legal document governed by English and Welsh law that facilitates the transfer of real property in its current condition, without warranties or representations about its state. The agreement explicitly acknowledges that the buyer accepts the property with all existing defects, whether visible or not, and the seller is generally not liable for any repairs or improvements needed after the sale. This type of agreement is commonly used in distressed property sales, auction purchases, or when the seller wants to limit their post-sale liability.

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As Is Property Sale Agreement

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What is a As Is Property Sale Agreement?

The As Is Property Sale Agreement is designed for situations where property is being sold in its existing condition without warranties or guarantees. This document is particularly relevant in England and Wales where property transactions require specific legal formalities under the Law of Property Act 1925 and related legislation. It's commonly used for distressed sales, auction properties, or where sellers wish to limit liability for property condition. The agreement includes detailed provisions about the property's current state, explicit acknowledgments from the buyer about accepting the property's condition, and clear limitations on the seller's liability. This type of agreement offers protection to sellers while providing transparency to buyers about the nature of the purchase.

What sections should be included in a As Is Property Sale Agreement?

1. Parties: Identification and details of seller and buyer, including full legal names and addresses

2. Background: Context of the sale and brief property description, including the 'as is' nature of the sale

3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, etc.

4. Property Description: Detailed description of the property being sold including address, title number, and registered details

5. Purchase Price: Amount and payment terms including deposit arrangements and completion payment

6. As Is Condition: Statement of property condition, disclaimer of warranties, and buyer's acknowledgment of property condition

7. Completion: Details of completion date, process, and requirements for both parties

8. Title: Confirmation of title transfer and obligations, including title guarantee limitations

What sections are optional to include in a As Is Property Sale Agreement?

1. Fixtures and Fittings: Optional section detailing specific items included or excluded from the sale

2. Property Management: Optional section covering arrangements between exchange and completion, including maintenance responsibilities

3. Tenant Provisions: Optional section detailing existing tenancies and related obligations when property is sold with sitting tenants

What schedules should be included in a As Is Property Sale Agreement?

1. Property Schedule: Detailed property description including title numbers, plans, and registered details

2. Fixtures and Fittings Schedule: Comprehensive list of items included in or excluded from the sale

3. Title Documents: Copies of relevant title documents, plans, and registered charges

4. Property Information Form: Standard form providing detailed information about the property

5. Energy Performance Certificate: Mandatory energy efficiency rating document for the property

Authors

Alex Denne

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

Relevant legal definitions



























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Industries

Law of Property Act 1925: Primary legislation governing land ownership, transfers, and legal formalities for property transactions in England and Wales. Sets out requirements for contracts relating to land.

Land Registration Act 2002: Legislation covering requirements for property registration, legal title, interests in land, and priority of interests. Essential for property transactions.

Consumer Rights Act 2015: Legislation protecting consumer rights in property transactions, including requirements for fairness of contract terms and transparency when selling to individuals rather than businesses.

Misrepresentation Act 1967: Deals with false statements in property transactions. Important for 'as is' sales as fraudulent misrepresentation cannot be excluded even in such agreements.

Unfair Contract Terms Act 1977: Sets limitations on exclusion clauses and defines requirements for reasonableness of contract terms in property agreements.

Consumer Protection from Unfair Trading Regulations 2008: Regulations prohibiting misleading omissions and establishing duty to disclose material information in property transactions.

Money Laundering Regulations 2017: Requirements for identity verification and source of funds checks in property transactions to prevent money laundering.

Common Law Principles: Legal principles established through case law covering contract formation, caveat emptor (buyer beware), and disclosure obligations.

Property-Specific Regulations: Requirements for Energy Performance Certificates, planning permissions, restrictions, and listed building considerations where applicable.

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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