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Purchase Sale Agreement Commercial (Real Estate)

Purchase Sale Agreement Commercial (Real Estate) Template for New Zealand

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Key Requirements PROMPT example:

Purchase Sale Agreement Commercial (Real Estate)

"I need a Purchase Sale Agreement Commercial (Real Estate) for a multi-tenant office building in Auckland CBD, with existing leases to be assigned and specific provisions for planned renovations scheduled for March 2025."

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Document background
The Purchase Sale Agreement Commercial (Real Estate) is a crucial legal instrument used in New Zealand for facilitating commercial property transactions. It is specifically designed to comply with New Zealand property law and commercial regulations, providing a comprehensive framework for both vendors and purchasers of commercial real estate. This document is essential when any business or individual wishes to buy or sell commercial property, whether it's office space, retail outlets, industrial facilities, or other commercial real estate assets. The agreement includes detailed provisions covering property description, purchase price, due diligence requirements, conditions precedent, warranties, and settlement procedures. It incorporates necessary protections and obligations under key legislation such as the Property Law Act 2007 and the Land Transfer Act 2017, while also addressing GST implications, tenant matters, and specific commercial property considerations.
Suggested Sections

1. Parties: Identification of the vendor and purchaser, including full legal names, addresses, and company details if applicable

2. Background: Context of the transaction, including brief property description and purpose of the agreement

3. Definitions and Interpretation: Definitions of key terms used throughout the agreement and rules for interpretation

4. Agreement to Sell and Purchase: Core agreement terms including property description, purchase price, and payment terms

5. Deposit: Details of deposit amount, payment timing, and handling conditions

6. Due Diligence: Terms and conditions for the purchaser's investigation of the property

7. Conditions Precedent: Conditions that must be satisfied before the agreement becomes unconditional

8. Settlement and Possession: Requirements and procedures for completion of the sale and transfer of possession

9. Warranties and Representations: Vendor's warranties about the property and business representations

10. Risk and Insurance: Allocation of risk and insurance requirements until settlement

11. Default: Consequences and remedies for breach of agreement terms

12. General Provisions: Standard legal provisions including notices, governing law, and dispute resolution

13. Execution: Signing provisions and execution blocks

Optional Sections

1. GST Provisions: Required when either party is GST-registered or the property is part of a taxable activity

2. Tenant Provisions: Required when the property is sold with existing tenancies

3. Development Provisions: Used when the property has pending or potential development opportunities

4. Overseas Investment Conditions: Required when the purchaser is an overseas person under the Overseas Investment Act

5. Environmental Provisions: Required when there are known or potential environmental issues

6. Vendor Finance: Used when the vendor is providing financing for part of the purchase price

7. Body Corporate: Required for unit title properties

8. Subdivision: Required when the property is being sold as part of a subdivision

Suggested Schedules

1. Property Schedule: Detailed description of land, buildings, and improvements including title references

2. Purchase Price Schedule: Breakdown of purchase price, including chattels and any apportionment

3. Due Diligence Checklist: List of documents and information to be provided during due diligence

4. Warranties Schedule: Detailed list of vendor warranties about the property

5. Tenancy Schedule: Details of existing tenancies including lease terms and conditions

6. Chattels Schedule: Itemized list of chattels included in the sale

7. Conditions Schedule: Detailed description of conditions precedent and their timing

8. Building Report: Technical information about building condition and compliance

9. Title Documents: Copy of title and relevant registered documents

10. Plans and Drawings: Property plans, boundary drawings, and building layouts

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
Relevant legal definitions










































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Relevant Industries

Real Estate

Commercial Property

Retail

Industrial

Hospitality

Healthcare

Education

Professional Services

Manufacturing

Logistics

Banking and Finance

Legal Services

Construction

Property Development

Property Investment

Relevant Teams

Legal

Finance

Real Estate

Property Management

Risk and Compliance

Operations

Business Development

Investment

Facilities Management

Asset Management

Acquisitions and Disposals

Due Diligence

Relevant Roles

Chief Executive Officer

Chief Financial Officer

Property Manager

Real Estate Agent

Commercial Lawyer

Property Lawyer

Business Development Manager

Investment Manager

Facilities Manager

Asset Manager

Property Developer

Commercial Property Consultant

Real Estate Broker

Legal Counsel

Risk Manager

Finance Director

Operations Manager

Portfolio Manager

Acquisition Manager

Due Diligence Specialist

Industries










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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