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Forward Sale Agreement
"I need a Forward Sale Agreement for a commercial office development in Dublin, with completion scheduled for June 2025, including specific provisions for phased completion and sustainability requirements."
1. Parties: Identification and details of the seller and purchaser
2. Background: Context of the transaction and brief description of the property/asset being sold
3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules of interpretation
4. Sale and Purchase: Core agreement to sell and purchase, including the basic terms of the forward sale
5. Purchase Price: Details of the purchase price, payment structure, and payment mechanics
6. Deposit: Terms relating to the initial deposit, including amount, payment timing, and handling
7. Conditions Precedent: Conditions that must be satisfied before the agreement becomes fully effective
8. Completion: Requirements and procedure for completion of the sale
9. Seller's Warranties: Warranties given by the seller regarding the property/asset
10. Purchaser's Warranties: Warranties given by the purchaser regarding their capacity to enter into the agreement
11. Title and Due Diligence: Provisions relating to title investigation and acceptance
12. Risk and Insurance: Allocation of risk and insurance requirements during the forward sale period
13. Default and Termination: Consequences of default and circumstances allowing termination
14. Notices: Process and requirements for giving notices under the agreement
15. Governing Law and Jurisdiction: Confirmation of Irish law as governing law and jurisdiction for disputes
1. Planning and Development: Required when the property is subject to ongoing or future development work
2. Environmental Matters: Needed when there are specific environmental concerns or requirements
3. VAT: Required when the transaction is subject to VAT
4. Assignment and Novation: Include when either party may need to transfer their rights or obligations
5. Step-in Rights: Required in cases where financiers may need to take over the purchaser's position
6. Construction Warranties: Needed for new builds or properties under construction
7. Service Charge Provisions: Required for properties within managed developments
8. Conditions Subsequent: Include when certain conditions must be met after the agreement becomes effective
9. Pre-completion Obligations: Required when specific actions must be taken between signing and completion
1. Property Description: Detailed description of the property including maps, plans and boundaries
2. Purchase Price Calculation: Detailed breakdown of purchase price components and adjustment mechanisms
3. Form of Transfer Deed: Agreed form of the transfer deed to be executed at completion
4. Title Documents: List of title documents and any specific title requirements
5. Warranties: Detailed seller's warranties about the property
6. Completion Requirements: Detailed list of completion deliverables and requirements
7. Development Specifications: If applicable, detailed specifications for any development works
8. Planning Permissions: Copies or details of relevant planning permissions
9. Service Charge Budget: If applicable, service charge estimates and calculations
10. Environmental Reports: If applicable, environmental surveys and reports
Authors
Real Estate
Property Development
Construction
Commercial Property
Residential Property
Investment Banking
Financial Services
Infrastructure
Retail
Industrial
Hospitality
Legal
Real Estate
Commercial
Finance
Development
Construction
Risk and Compliance
Property Management
Investment
Operations
Real Estate Director
Property Developer
Commercial Director
Legal Counsel
Property Manager
Investment Manager
Development Manager
Finance Director
Construction Manager
Project Manager
Contracts Manager
Risk Manager
Compliance Officer
Transaction Manager
Asset Manager
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