The Preliminary Sale Contract is a crucial document in Irish property transactions that formalizes the intention to sell and purchase property. It is typically prepared after initial terms are agreed upon but before the final conveyancing process begins. This contract captures essential details about the property, parties involved, and transaction terms, serving as the primary reference point throughout the sale process. Under Irish law, this document must comply with the Land and Conveyancing Law Reform Act 2009 and other relevant legislation. It is commonly used in both residential and commercial property transactions, requiring careful consideration of title issues, planning permissions, and property-specific conditions. The Preliminary Sale Contract becomes binding once signed by both parties, subject to any conditions precedent, and forms the basis for the subsequent steps in the property transfer process.
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1. Parties: Full legal names and addresses of the vendor and purchaser
2. Background: Context of the sale and brief property introduction
3. Definitions: Definitions of key terms used throughout the contract
4. Property Description: Detailed description of the property including folio number, boundaries, and address
5. Purchase Price: Agreed purchase price and payment structure, including deposit requirements
6. Closing Date: Proposed completion date and conditions for completion
7. Title: Vendor's confirmation of good marketable title and any known encumbrances
8. Conditions Precedent: Conditions that must be met before the sale becomes binding
9. Vendor's Obligations: Specific obligations of the vendor up to completion
10. Purchaser's Obligations: Specific obligations of the purchaser up to completion
11. Representations and Warranties: Standard warranties about the property's condition and legal status
12. Default and Remedies: Consequences of breach by either party
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 has existing planning permissions or requires new ones
2. Management Company: Required for apartments or managed developments
3. VAT: Required when VAT is applicable to the transaction
4. Tenant Rights: Required when the property is subject to existing tenancies
5. Rural Property Provisions: Required for agricultural land or properties with specific rural considerations
6. Construction Warranties: Required for new builds or recently constructed properties
7. Local Authority Requirements: Required when specific local authority conditions apply
8. Structural Issues: Required when known structural issues need to be addressed
1. Schedule 1 - Property Details: Detailed property description, including maps and plans
2. Schedule 2 - Fixtures and Fittings: List of items included and excluded from the sale
3. Schedule 3 - Planning Documentation: Copies of relevant planning permissions and certificates
4. Schedule 4 - Title Documents: List of title documents and copies of relevant deeds
5. Appendix A - Property Plans: Maps, floor plans, and boundary details
6. Appendix B - Building Energy Rating Certificate: Current BER certificate and advisory report
7. Appendix C - Special Conditions: Any special conditions agreed between the parties
8. Appendix D - Requisitions on Title: Standard preliminary requisitions on title and replies
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