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Commercial Real Estate Offer To Purchase Form Template for England and Wales

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Key Requirements PROMPT example:

Commercial Real Estate Offer To Purchase Form

"I need a Commercial Real Estate Offer To Purchase Form for acquiring a multi-tenant office building in Manchester city centre, with specific conditions regarding existing tenant leases and a completion date of March 2025."

Document background
The Commercial Real Estate Offer To Purchase Form is a crucial initial document in commercial property transactions under English and Welsh law. It is typically used when a potential buyer wishes to formalize their intent to purchase commercial property and establish the basic terms of the transaction. The document includes essential information such as property details, purchase price, deposit arrangements, due diligence requirements, and proposed completion dates. It serves as a preliminary agreement that leads to the formal contract of sale, providing both parties with clarity on the proposed terms and conditions. This document is particularly important as it forms the basis for solicitors to proceed with detailed due diligence and draft the final sale contract.
Suggested Sections

1. Parties: Details of buyer and seller, including full legal names and addresses

2. Property Description: Detailed description of the property, including address and title number

3. Purchase Price: Agreed purchase price and payment terms

4. Deposit Terms: Amount and timing of deposit payment

5. Due Diligence Period: Timeframe for conducting investigations and searches

6. Completion Date: Proposed date for completion of the transaction

Optional Sections

1. Conditions Precedent: Specific conditions that must be met before proceeding, used when there are specific requirements that must be satisfied before completion

2. Tenant Information: Details of existing tenancies, used when the property is subject to existing leases

3. Planning Conditions: Specific planning requirements or restrictions, used when purchase is conditional on obtaining planning permission

Suggested Schedules

1. Property Plan: Official plan showing the property boundaries

2. Title Documents: Official copies of the title register and plan

3. Existing Leases: Copies of any existing lease agreements, included if property is tenanted

4. EPC Certificate: Current Energy Performance Certificate

5. Service Contracts: Details of ongoing service contracts, included if any service contracts are to be transferred

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

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Relevant Industries
Relevant Teams
Relevant Roles
Industries

Law of Property Act 1925: Fundamental legislation governing property law principles, requirements for land contracts, and legal estates in land in England and Wales

Land Registration Act 2002: Legislation covering requirements for property registration, priority of interests, and protection of title in the land registry system

Contracts (Rights of Third Parties) Act 1999: Law governing how third-party rights are handled in contractual agreements, including property contracts

Law of Property (Miscellaneous Provisions) Act 1989: Legislation specifying formal requirements for property contracts, including the requirement for contracts to be in writing

Town and Country Planning Act 1990: Planning law covering planning permissions, use class considerations, and development restrictions for commercial properties

Environmental Protection Act 1990: Environmental legislation addressing environmental liabilities and contaminated land issues in property transactions

Energy Performance of Buildings (England and Wales) Regulations 2012: Regulations governing energy performance certificates (EPCs) and energy efficiency standards for commercial buildings

Money Laundering Regulations 2017: Regulations requiring due diligence and identity verification in property transactions to prevent money laundering

Value Added Tax Act 1994: Legislation governing VAT status of properties and option to tax considerations in commercial property transactions

Local Government Finance Act 1988: Legislation covering business rates implications for commercial properties

Landlord and Tenant Act 1954: Law governing the relationship between landlords and tenants, particularly relevant if the property is currently tenanted

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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