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Commercial Property Sale Contract Template
"I need a Commercial Property Sale Contract Template for selling a retail shopping center with multiple existing tenants, scheduled for completion in March 2025, that includes specific provisions for lease assignments and rental income adjustments."
1. Parties: Identifies and provides full details of the vendor and purchaser, including ACN/ABN for companies
2. Background: Outlines the context of the sale, including brief property description and intention to sell/purchase
3. Definitions and Interpretation: Defines key terms used throughout the contract and sets out interpretation rules
4. Property Details: Comprehensive description of the property, including lot number, title reference, and improvements
5. Purchase Price: Specifies the purchase price, deposit requirements, and payment terms
6. GST Provisions: Details GST treatment of the sale and related obligations
7. Completion: Specifies completion date, time, and place, and requirements for completion
8. Title and Transfer: Addresses requirements for clear title and transfer of ownership
9. Warranties and Representations: Sets out vendor's warranties regarding the property and business
10. Property Condition and Inspection: Addresses property condition, pest/building inspections, and related rights
11. Risk and Insurance: Allocates risk and specifies insurance requirements until completion
12. Default and Termination: Specifies consequences of default and termination rights
13. Notices: Sets out requirements for giving notices under the contract
14. General Provisions: Includes standard boilerplate clauses such as governing law, entire agreement, etc.
1. Tenant Provisions: Required when the property is sold subject to existing tenancies
2. Environmental Matters: Required when there are specific environmental concerns or compliance requirements
3. Development Approvals: Included when the property has pending or required development approvals
4. Foreign Investment Approval: Required when the purchaser requires FIRB approval
5. Due Diligence: Included when a due diligence period is required before unconditional commitment
6. Plant and Equipment: Required when significant plant/equipment is included in the sale
7. Seller's Business Operation: Required when property is sold as a going concern with business operations
8. Contamination: Required when there are known or potential contamination issues
9. Easements and Encumbrances: Included when specific easements or encumbrances affect the property
1. Property Description Schedule: Detailed description of land, improvements, and included fixtures/fittings
2. Disclosure Statement: Statutory and additional disclosures about the property
3. Tenancy Schedule: Details of existing tenancies, including lease terms and rental income
4. Outstanding Orders Schedule: List of any outstanding orders or notices affecting the property
5. Encumbrances Schedule: Details of all registered and unregistered encumbrances
6. Plant and Equipment Schedule: Inventory of included plant and equipment
7. Due Diligence Checklist: List of documents and information to be provided for due diligence
8. Special Conditions: Additional conditions specific to the transaction
9. Form of Transfer: Prescribed form of transfer document
10. Settlement Statement: Pro-forma settlement adjustments statement
Authors
Real Estate
Commercial Property Development
Retail
Industrial
Manufacturing
Healthcare
Education
Hospitality
Logistics
Professional Services
Banking and Finance
Construction
Agriculture
Legal
Real Estate
Property Management
Corporate Development
Finance
Procurement
Risk and Compliance
Operations
Business Development
Investment
Facilities Management
Real Estate Lawyer
Commercial Property Manager
Real Estate Agent
Property Developer
Corporate Counsel
Legal Counsel
Conveyancer
Business Owner
Commercial Director
Facilities Manager
Investment Manager
Property Portfolio Manager
Chief Financial Officer
Procurement Manager
Risk Manager
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