The Standard Real Estate Purchase Contract is a fundamental document in property transactions within England and Wales. It serves as the primary agreement governing the sale and purchase of real estate, whether residential or commercial. This contract type incorporates essential elements required by English property law, including detailed property descriptions, price terms, completion arrangements, and title guarantees. It's designed to comply with the Law of Property Act 1925, Land Registration Act 2002, and other relevant legislation while providing a clear framework for the transaction and protecting all parties' interests.
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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 agreement
4. Property Description: Detailed description of the property being sold
5. Purchase Price: Amount and payment terms
6. Completion Date: Date for completion of the sale
7. Title Guarantee: Seller's warranties regarding ownership
1. Tenant Provisions: Required if property is sold subject to existing tenancies
2. Planning Permissions: Include if specific planning conditions affect the property
3. Environmental Warranties: Required for properties with potential environmental issues
4. Service Charges: Include for leasehold properties
1. Property Plan: Official plan showing boundaries and extent of property
2. Fixtures and Fittings: List of items included/excluded from sale
3. Title Documents: Copies of relevant title documents
4. Planning Permissions: Copies of relevant planning documents
5. Energy Performance Certificate: Required energy efficiency documentation
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