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Real Estate On Contract
"I need a Real Estate On Contract agreement for a commercial property development in Lagos, Nigeria, which includes specific provisions for phased construction and staged payments, with completion scheduled for March 2025."
1. Parties: Identification and details of the seller/owner and buyer/contractor
2. Background: Context of the transaction and brief property overview
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including location, boundaries, and title information
5. Purchase Price and Payment Terms: Details of the purchase price, payment schedule, and payment methods
6. Contract Period: Duration of the contract and key milestone dates
7. Seller's Representations and Warranties: Seller's guarantees regarding property title, condition, and authority to sell
8. Buyer's Representations and Warranties: Buyer's guarantees regarding financial capacity and compliance with terms
9. Title and Documentation: Requirements for title transfer and necessary documentation
10. Conditions Precedent: Conditions that must be met before the contract becomes effective
11. Completion Requirements: Steps required to complete the transaction
12. Default and Remedies: Consequences of breach and available remedies
13. Governing Law: Specification of Nigerian law as governing law
14. Dispute Resolution: Process for resolving disputes between parties
15. Notices: How formal communications between parties should be made
16. Execution: Signature blocks and execution requirements
1. Environmental Compliance: Required when property involves environmental considerations or requirements
2. Planning Permissions: Needed when property requires specific zoning or development approvals
3. Tenant Rights: Required when property is currently occupied by tenants
4. Property Management: Included when agreement covers ongoing management responsibilities
5. Construction Requirements: Needed when property involves new construction or renovations
6. Special Conditions: For unique requirements specific to the property or transaction
7. Insurance Requirements: Detailed insurance obligations when specific coverage is required
8. Force Majeure: Added when specific provisions for unforeseen circumstances are needed
1. Schedule 1: Property Description: Detailed description of property including surveys and plans
2. Schedule 2: Payment Schedule: Detailed breakdown of payment terms and installments
3. Schedule 3: Title Documents: List of all title documents and certificates
4. Schedule 4: Property Condition Report: Current condition of property and any known defects
5. Schedule 5: Required Permits: List of necessary permits and approvals
6. Appendix A: Property Photos: Recent photographs of the property
7. Appendix B: Land Documents: Copies of relevant land registry documents
8. Appendix C: Due Diligence Reports: Results of property and title investigations
Authors
Property
Completion Date
Contract Period
Purchase Price
Deposit
Balance Payment
Completion Payment
Property Documents
Title Documents
Certificate of Occupancy
Land Use Rights
Permitted Use
Business Day
Effective Date
Encumbrances
Force Majeure Event
Governing Law
Interest Rate
Material Adverse Change
Notice
Party/Parties
Payment Schedule
Planning Permission
Property Rights
Registration Requirements
Seller's Warranties
Buyer's Warranties
Stamp Duty
Survey Plan
Term
Title
Transfer Documents
Vacant Possession
Valuation Report
Working Day
Default Event
Completion Requirements
Development Plans
Environmental Requirements
Local Government Authority
State Authority
Applicable Laws
Due Diligence
Property Manager
Representatives
Security Interest
Consideration
Purchase Price
Payment Terms
Title Transfer
Representations and Warranties
Conditions Precedent
Due Diligence
Property Inspection
Completion Requirements
Default and Remedies
Force Majeure
Assignment
Environmental Compliance
Planning and Zoning
Insurance
Property Rights
Land Use
Dispute Resolution
Governing Law
Notices
Confidentiality
Indemnification
Termination
Registration Requirements
Stamp Duty
Local Authority Compliance
Access Rights
Utilities and Services
Maintenance Obligations
Development Rights
Severability
Entire Agreement
Amendment
Survival
Time of Essence
Further Assurance
Real Estate
Construction
Property Development
Banking and Finance
Hospitality
Retail
Commercial Property
Industrial Property
Agricultural Land Development
Urban Development
Legal
Real Estate
Property Management
Facilities Management
Finance
Compliance
Commercial
Business Development
Operations
Risk Management
Real Estate Manager
Property Developer
Legal Counsel
Contract Manager
Property Manager
Facilities Manager
Commercial Director
Chief Financial Officer
Investment Manager
Compliance Officer
Real Estate Agent
Development Director
Project Manager
Land Administrator
Real Estate Attorney
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