The Condo Purchase Agreement is essential for any flat or apartment purchase in England and Wales. This document serves as the primary contract between buyer and seller, detailing all aspects of the property transaction including price, completion date, property specifications, and ongoing obligations. It's particularly important for leasehold properties where service charges, ground rent, and management arrangements need to be clearly defined. The agreement ensures compliance with relevant property legislation and provides security for all parties involved in the transaction.
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1. Parties: Identification and details of buyer and seller
2. Background: Context of the transaction and property details
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including boundaries and included fixtures
5. Purchase Price: Amount and payment terms
6. Completion: Completion date and process
7. Title and Registration: Title guarantee and registration requirements
1. Mortgage Arrangements: Section detailing mortgage financing terms and conditions - include when property purchase involves mortgage financing
2. Chain Dependencies: Section outlining dependencies on other property transactions - include when purchase is part of a property chain
3. Special Conditions: Section containing any unique terms specific to this transaction - include when non-standard conditions apply
1. Schedule 1 - Property Plan: Detailed floor plan and property boundaries
2. Schedule 2 - Fixtures and Fittings: List of included and excluded items in the property sale
3. Schedule 3 - Service Charge Details: Breakdown of service charges and management fees
4. Appendix A - Building Safety Certificate: EWS1 form and safety certifications
5. Appendix B - Management Company Information: Details of property management arrangements and contact information
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