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Mou For Sale Of Property
"I need an MOU For Sale Of Property for a residential home sale in Auckland, New Zealand, where I'm selling to a first-time buyer and want to include a 30-day due diligence period with settlement targeted for March 2025."
1. Parties: Identification of the potential vendor and purchaser, including full legal names and addresses
2. Background: Context of the proposed transaction, including brief description of the property and parties' intentions
3. Definitions: Key terms used throughout the MOU, including Property, Completion Date, Due Diligence Period, etc.
4. Purpose: States the non-binding nature of the MOU and its purpose as a framework for negotiation
5. Property Details: Detailed description of the property, including address, title details, and any inclusions/exclusions
6. Purchase Price: Proposed purchase price and payment structure, including deposit arrangements
7. Due Diligence: Outline of the due diligence process, timeframes, and access arrangements
8. Timeline: Key dates and milestones for the transaction, including due diligence period and target completion date
9. Confidentiality: Obligations regarding confidential information shared during negotiations
10. Costs: Each party's responsibility for costs during the preliminary phase
11. Next Steps: Process for moving forward to a formal Sale and Purchase Agreement
12. Good Faith: Commitment to negotiate in good faith, while acknowledging non-binding nature
13. Execution: Signature blocks for all parties
1. Agent Involvement: Details of real estate agents involved and commission arrangements, if applicable
2. Tenant Provisions: Arrangements regarding existing tenants, if the property is tenanted
3. Development Potential: Special provisions regarding development potential or resource consents, if relevant
4. Overseas Investment: Additional requirements if purchaser is an overseas person under the Overseas Investment Act
5. GST Treatment: GST status and treatment of the transaction, if either party is GST registered
6. Conditional Matters: Any specific conditions that need to be met before proceeding to formal agreement
7. Property Sharing Arrangement: If multiple purchasers are involved, their ownership structure and contributions
8. Future Subdivision: Provisions relating to potential subdivision plans, if relevant
1. Schedule 1 - Property Details: Detailed property description, including title references, area, and legal description
2. Schedule 2 - Proposed Commercial Terms: Detailed breakdown of the proposed purchase price, payment terms, and key commercial conditions
3. Schedule 3 - Due Diligence Requirements: List of required due diligence items and documentation to be provided
4. Schedule 4 - Timeline: Detailed timeline with all key dates and milestones
5. Appendix A - Property Plans: Copy of title plans, LIM report references, and any relevant property plans
6. Appendix B - Photographs: Recent photographs of the property
7. Appendix C - Existing Tenancies: Details of any existing tenancy arrangements, if applicable
8. Appendix D - Building Reports: Any existing building reports or certificates
Authors
Real Estate
Property Development
Commercial Property
Residential Property
Agriculture
Retail
Hospitality
Industrial
Construction
Investment
Legal Services
Property Management
Legal
Real Estate
Property Management
Investment
Business Development
Operations
Commercial
Acquisitions
Corporate Affairs
Risk Management
Property Lawyer
Real Estate Agent
Property Developer
Investment Manager
Asset Manager
Property Manager
Commercial Director
Legal Counsel
Conveyancing Lawyer
Business Development Manager
Property Acquisition Manager
Chief Investment Officer
Real Estate Broker
Development Manager
Corporate Lawyer
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