The Real Estate Offer Contract is a crucial document in property transactions within England and Wales, typically used when a prospective buyer wishes to formalize their intention to purchase a property. This document is essential for establishing clear terms of the proposed transaction, including purchase price, completion timeline, and any conditional requirements. It serves as the foundation for subsequent legal work and helps prevent misunderstandings between parties. The contract must comply with English and Welsh property law requirements, particularly the Law of Property Act 1925 and the Law of Property (Miscellaneous Provisions) Act 1989.
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1. Parties: Details of buyer and seller including full legal names and addresses
2. Background: Context of the transaction and property details
3. Definitions: Key terms used throughout the document
4. Property Description: Detailed description of the property including address and title number
5. Purchase Price: Agreed purchase price and payment terms
6. Deposit Terms: Amount and conditions of deposit
7. Completion Date: Proposed completion date and related conditions
1. Conditional Clauses: Used when offer is subject to specific conditions such as mortgage approval or survey results
2. Fixtures and Fittings: Details of items included or excluded from sale
3. Chain Details: Information about property chain when either party is involved in linked transactions
1. Schedule 1 - Property Details: Detailed property specification including boundaries and rights of way
2. Schedule 2 - Fixtures and Fittings List: Comprehensive list of included/excluded items
3. Appendix A - Property Plans: Official plans and drawings of the property
4. Appendix B - Title Documents: Copies of relevant title documents and searches
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