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Commercial Real Estate Sales Contract
"I need a Commercial Real Estate Sales Contract for the purchase of a three-story office building in Jakarta's central business district, with completion scheduled for March 2025; the buyer is a domestic Indonesian corporation, and we need to include specific provisions for existing tenants who will remain in the building after the sale."
1. Parties: Identification of the seller and purchaser, including complete legal names, addresses, and registration numbers for companies
2. Background: Context of the transaction, brief description of the property, and purpose of the agreement
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property, including address, land certificate details, building specifications, and registered encumbrances
5. Purchase Price: Agreed purchase price, payment structure, and payment methods
6. Payment Terms: Detailed payment schedule, deposit requirements, and consequences of payment default
7. Conditions Precedent: Conditions that must be satisfied before completion of the sale
8. Due Diligence: Buyer's rights and timeline for conducting due diligence investigations
9. Seller's Warranties: Warranties regarding property ownership, condition, and legal status
10. Buyer's Warranties: Warranties regarding legal capacity and funding availability
11. Completion: Process and requirements for completing the sale, including documentation and registration
12. Transfer of Title: Procedures for transferring property ownership and registration with relevant authorities
13. Taxes and Costs: Allocation of transaction taxes, registration fees, and other costs
14. Default and Termination: Consequences of breach and circumstances allowing termination
15. Governing Law: Confirmation of Indonesian law as governing law and jurisdiction
16. Dispute Resolution: Procedures for handling disputes, including choice of forum and arbitration provisions
1. Foreign Ownership Provisions: Required when buyer is a foreign entity or individual, detailing compliance with Indonesian foreign ownership restrictions
2. Strata Title Provisions: Required for multi-story commercial buildings with separate strata titles
3. Environmental Compliance: Required when property has specific environmental considerations or requirements
4. Tenant Rights: Required when property is sold with existing tenants and lease agreements
5. Development Rights: Required when property includes undeveloped land or development potential
6. Mixed-Use Provisions: Required for properties with both commercial and other usage rights
7. Broker Provisions: Required when real estate brokers are involved in the transaction
8. Financing Contingency: Required when purchase is contingent on buyer obtaining financing
9. Property Management Transition: Required for properties with existing management structures
1. Property Description Schedule: Detailed technical description of the property, including boundaries, measurements, and facilities
2. Title Documents: Copies of land certificates and other ownership documents
3. Property Plans: Building plans, floor plans, and site maps
4. Inventory Schedule: List of fixtures, fittings, and equipment included in the sale
5. Payment Schedule: Detailed breakdown of payment installments and timing
6. Due Diligence Results: Summary of due diligence findings and reports
7. Existing Tenancies: Details of current lease agreements and tenant obligations
8. Permits and Licenses: Copies of relevant business and building permits
9. Land Use Certificates: Zoning certificates and land use rights documentation
10. Environmental Reports: Environmental assessment reports and certificates
Authors
Commercial Real Estate
Retail
Office Space Development
Industrial Property
Hospitality
Mixed-use Development
Warehousing and Logistics
Shopping Centers and Malls
Business Parks
Manufacturing
Legal
Real Estate
Finance
Property Development
Asset Management
Investment
Facilities Management
Risk Management
Corporate Development
Compliance
Chief Executive Officer
Chief Financial Officer
Real Estate Director
Property Development Manager
Commercial Property Manager
Legal Counsel
Real Estate Investment Manager
Facilities Manager
Asset Manager
Property Acquisition Specialist
Real Estate Broker
Corporate Lawyer
Finance Director
Investment Analyst
Due Diligence Officer
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