A Real Property Sales Contract is essential for any transfer of real estate in England and Wales. This document serves as the primary agreement between parties in property transactions, whether residential or commercial. It includes crucial details such as property description, purchase price, completion dates, and any conditions precedent. The contract must adhere to strict legal requirements under English law, including the Law of Property Act 1925 and related legislation. It provides security for both parties and forms the basis for the conveyancing process.
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1. Parties: Details of seller and buyer, including full legal names and addresses
2. Background: Context of the sale and brief property description
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including title number and address
5. Purchase Price: Amount and payment terms
6. Completion Date: Date for completion of the sale
7. Title Guarantee: Type of title guarantee provided
8. Vacant Possession: Confirmation of vacant possession on completion
1. Fixtures and Fittings: Details of included/excluded items - used when specific items need to be listed as included/excluded from sale
2. Planning Restrictions: Details of any planning constraints - used when property is subject to specific planning conditions
3. Leasehold Provisions: Specific terms relating to leasehold property - used when property is leasehold rather than freehold
1. Schedule 1 - Property Details: Detailed property specification including plans and boundaries
2. Schedule 2 - Fixtures and Fittings: Comprehensive list of included/excluded items
3. Schedule 3 - Title Documents: Copies of relevant title documents and plans
4. Appendix A - Property Plans: Official plans showing property boundaries
5. Appendix B - Search Results: Results of local authority and other searches
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