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Commercial Property Purchase And Sale Agreement
"I need a Commercial Property Purchase And Sale Agreement for the acquisition of a 5-story office building in Singapore's Central Business District, with existing tenants that need to be retained, and completion scheduled for March 2025."
1. Parties: Identification and details of the Vendor and Purchaser
2. Background: Context of the transaction and property details
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property, including lot number, boundaries, and floor area
5. Purchase Price: Agreement on price and payment terms
6. Completion: Terms and timeline for completing the transaction
7. Title and Transfer: Provisions regarding clean title and transfer procedures
8. Vendor's Warranties: Standard warranties regarding property ownership and condition
9. Default Provisions: Consequences and remedies for breach of agreement
1. Conditions Precedent: Specific conditions that must be met before completion, used when there are specific requirements before completion (e.g., obtaining regulatory approvals)
2. Tenant Rights: Provisions regarding existing tenancies, used when property is sold with existing tenants
3. GST Provisions: Special provisions regarding GST treatment, used when the transaction is subject to GST
4. Environmental Warranties: Specific warranties regarding environmental condition, used for industrial properties or properties with potential environmental concerns
1. Property Schedule: Detailed property information including floor plans and boundaries
2. Inventory Schedule: List of fixtures and fittings included in the sale
3. Title Documents: Copies of relevant title documents
4. Payment Schedule: Detailed breakdown of payment terms and timeline
5. Existing Tenancies: Details of current lease agreements, included when property is sold with existing tenants
6. Property Searches: Results of legal and regulatory searches
7. Building Inspection Report: Technical assessment of property condition
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