A Pre Purchase Agreement is essential in Irish property transactions where parties wish to formalize their commitment to a property purchase before proceeding to a full contract for sale. This document is particularly useful when certain conditions need to be met before the sale can proceed, such as obtaining mortgage approval, completing title investigations, or securing planning permissions. It provides a structured framework under Irish law that protects both parties' interests during the pre-contract phase, typically including details about the property, purchase price, deposit arrangements, conditions precedent, and completion timeline. The agreement is especially relevant in complex property transactions or where there may be a significant gap between initial agreement and final completion. It must comply with Irish property law requirements, including the Land and Conveyancing Law Reform Act 2009 and related legislation.
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1. Parties: Identification and details of the seller and purchaser
2. Background: Context of the agreement and brief description of the property being sold
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed description of the property including boundaries, title, and any included/excluded items
5. Purchase Price: Agreed purchase price and payment terms
6. Deposit: Amount, payment terms, and conditions for the deposit
7. Conditions Precedent: Conditions that must be met before the agreement becomes fully effective
8. Seller's Obligations: Commitments and warranties provided by the seller
9. Purchaser's Obligations: Commitments and obligations of the purchaser
10. Completion: Requirements and process for completing the sale
11. Title: Provisions regarding proof of title and requirements
12. Termination: Circumstances under which the agreement can be terminated and consequences
13. Notices: How formal communications between parties should be made
14. Governing Law: Confirmation that Irish law governs the agreement
1. Planning Permissions: Required when the property involves specific planning conditions or ongoing applications
2. VAT: Required when the transaction is subject to VAT
3. Management Company: Required for properties in managed developments
4. Mortgage: Required when the purchase is subject to mortgage approval
5. Environmental Matters: Required when there are environmental considerations or assessments
6. Tenant Rights: Required when the property is sold subject to existing tenancies
7. Development Rights: Required when there are future development possibilities or restrictions
8. Chain Break Provisions: Required when the purchase is part of a chain of transactions
1. Schedule 1 - Property Details: Detailed description of the property including maps and plans
2. Schedule 2 - Fixtures and Fittings: List of items included and excluded from the sale
3. Schedule 3 - Special Conditions: Any special conditions or requirements specific to this transaction
4. Schedule 4 - Form of Transfer: Template or agreed form of the transfer deed
5. Appendix A - Property Plans: Maps, floor plans, and boundary details
6. Appendix B - Planning Documentation: Copies of relevant planning permissions and certificates
7. Appendix C - Title Documents: List of title documents to be provided
8. Appendix D - Search Results: Results of preliminary searches and enquiries
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Legal Services
Financial Services
Property Development
Construction
Property Management
Banking
Residential Property
Commercial Property
Relevant Teams
Legal
Real Estate
Compliance
Property Management
Conveyancing
Commercial Property
Residential Property
Risk Management
Corporate Advisory
Transaction Advisory
Relevant Roles
Property Lawyer
Real Estate Agent
Conveyancing Solicitor
Property Manager
Legal Counsel
Mortgage Advisor
Property Developer
Real Estate Manager
Compliance Officer
Legal Director
Property Surveyor
Transaction Manager
Real Estate Partner
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