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Contract For Sale Of Commercial Property
"I need a Contract for Sale of Commercial Property for a multi-tenant office building in Makati City, Philippines, with existing tenants and special provisions for environmental compliance, where the buyer is a foreign corporation requiring approval under Philippine foreign ownership regulations."
1. Parties: Identification of the Seller and Buyer, including complete legal names, addresses, and tax identification numbers
2. Background: Context of the transaction, including brief description of the property and parties' intention to enter into the sale
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the commercial property, including exact location, boundaries, and title details
5. Purchase Price: Statement of the total purchase price and payment terms, including deposit arrangements
6. Payment Terms: Detailed breakdown of payment schedule, method of payment, and consequences of default
7. Conditions Precedent: Conditions that must be satisfied before the sale can proceed to closing
8. Seller's Representations and Warranties: Seller's declarations regarding property ownership, condition, and legal status
9. Buyer's Representations and Warranties: Buyer's declarations regarding legal capacity and financial ability to complete the purchase
10. Due Diligence: Buyer's right to investigate the property and related documents
11. Closing Conditions: Requirements and procedures for completing the sale
12. Title Transfer: Process and requirements for transferring property title
13. Taxes and Expenses: Allocation of transfer taxes, registration fees, and other transaction costs
14. Risk and Insurance: Allocation of risk and insurance requirements until closing
15. Default and Remedies: Consequences of breach by either party and available remedies
16. Governing Law: Specification of Philippine law as governing law and jurisdiction
17. Notices: Process for giving formal notices under the agreement
18. Execution: Signature blocks and notarization requirements
1. Existing Tenancies: Details of current lease agreements and handling of tenant deposits - include if property has existing tenants
2. Environmental Matters: Specific provisions regarding environmental conditions or requirements - include if property has environmental concerns
3. Property Management: Interim management arrangements between contract and closing - include for properties with ongoing operations
4. Broker Provisions: Details of broker involvement and commission arrangements - include if brokers are involved
5. Financing Contingency: Conditions related to buyer's financing arrangements - include if buyer requires financing
6. Property Improvements: Handling of ongoing or planned improvements - include if property is under development or renovation
7. Foreign Ownership Compliance: Special provisions for foreign buyers - include if buyer is foreign entity
8. Condominium/Building Rules: Reference to governing rules if property is part of larger complex - include for condominium commercial units
1. Schedule A - Property Details: Detailed technical description of property, including lot number, boundaries, and technical specifications
2. Schedule B - Title Documents: List of title documents and certified true copies
3. Schedule C - Payment Schedule: Detailed breakdown of payment terms and milestone dates
4. Schedule D - Permitted Encumbrances: List of accepted liens, encumbrances, or restrictions on the property
5. Schedule E - Due Diligence Documents: List of documents provided for due diligence
6. Schedule F - Current Leases: Details of existing lease agreements and tenant information
7. Schedule G - Property Inventory: List of fixtures, fittings, and equipment included in the sale
8. Appendix 1 - Property Plans: Official property plans and surveys
9. Appendix 2 - Environmental Reports: Copies of environmental assessments or certificates
10. Appendix 3 - Building Permits: Copies of relevant permits and certificates of occupancy
Authors
Real Estate
Commercial Property Development
Retail
Hospitality
Office Space Management
Industrial
Manufacturing
Logistics
Banking and Finance
Insurance
Legal Services
Construction
Property Investment
Facilities Management
Legal
Real Estate
Finance
Operations
Compliance
Risk Management
Property Management
Business Development
Investment
Asset Management
Facilities Management
Due Diligence
Corporate Affairs
Tax
Chief Executive Officer
Chief Financial Officer
Real Estate Director
Property Manager
Corporate Lawyer
Legal Counsel
Business Development Manager
Investment Manager
Asset Manager
Facilities Manager
Real Estate Broker
Commercial Property Agent
Risk Manager
Compliance Officer
Finance Director
Operations Manager
Real Estate Portfolio Manager
Property Development Manager
Acquisition Manager
Due Diligence Specialist
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