A Pre-Sale Agreement is commonly used in England and Wales when parties wish to formalize their commitment to a property transaction before proceeding to exchange of contracts. This document is particularly valuable when there are complex conditions to be satisfied, such as obtaining planning permission or completing due diligence. The agreement typically includes details of the property, purchase price, deposit arrangements, timeline for completion, and any special conditions. While not replacing the final sale contract, the Pre-Sale Agreement creates legally binding obligations on both parties to proceed with the transaction subject to the specified conditions being met.
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1. Parties: Identification and details of all contracting parties
2. Background: Context and purpose of the pre-sale agreement
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property being sold
5. Purchase Price: Agreed price and payment terms
6. Deposit Terms: Amount, payment timing, and handling of deposit
7. Conditions Precedent: Conditions that must be met before completion
8. Completion Requirements: Process and requirements for completion
1. Due Diligence: Terms for property inspection and verification processes
2. Planning Permissions: Details of existing or required planning permissions for property development
3. Property Management: Interim management arrangements before completion
4. Third Party Rights: Provisions regarding rights of other parties affecting the property
1. Property Plan: Detailed plans and drawings of the property
2. Title Documents: Copies of relevant title documents
3. Property Information Form: Standard property information provided by seller
4. Fixtures and Fittings List: Detailed inventory of items included/excluded from sale
5. Planning Documents: Relevant planning permissions and certificates
Relevant legal definitions
Clauses
Relevant Industries
Relevant Teams
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