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Real Estate Purchase Agreement Contract
"I need a Real Estate Purchase Agreement Contract for a commercial property in Lagos, Nigeria, valued at ₦100 million, which includes provisions for existing tenants and requires completion by March 2025."
1. Parties: Identification of the seller and buyer with full legal names and addresses
2. Background: Context of the transaction including brief property description and intention to sell/buy
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including boundaries, title details, and registration particulars
5. Purchase Price: Agreed purchase price and payment terms including deposit and completion payment details
6. Conditions Precedent: Conditions that must be satisfied before completion, including Governor's Consent requirements
7. Seller's Representations and Warranties: Seller's declarations regarding property ownership, encumbrances, and condition
8. Buyer's Representations and Warranties: Buyer's declarations regarding capacity to purchase and source of funds
9. Completion: Details of the completion process, timing, and requirements
10. Title Documents and Transfer: Process for transferring title and required documentation
11. Costs and Taxes: Allocation of transaction costs, stamp duty, and other taxes
12. Default and Remedies: Consequences of breach and available remedies
13. Notices: Process for giving formal notices under the agreement
14. Governing Law and Jurisdiction: Confirmation of Nigerian law application and jurisdiction
15. Entire Agreement: Standard boilerplate confirming this is the complete agreement between parties
1. Existing Tenancies: Required if property is sold subject to existing tenancies, detailing tenant rights and obligations
2. Property Management Until Completion: Used for properties requiring management between exchange and completion
3. Environmental Matters: Required for properties with potential environmental issues or compliance requirements
4. Planning Permissions: Needed if property involves ongoing or required planning permissions
5. Certificate of Occupancy Status: Required if Certificate of Occupancy is pending or requires regularization
6. Service Charge Provisions: Required for properties within estates or with shared facilities
7. Developer's Obligations: Required for new-build properties or off-plan purchases
8. Mortgage Details: Required if property is being purchased with mortgage financing
1. Property Description Schedule: Detailed property description including plans, boundaries, and features
2. Title Documents Schedule: List and copies of all relevant title documents
3. Inventory Schedule: List of fixtures, fittings, and contents included in the sale
4. Payment Schedule: Detailed breakdown of payment terms and installments if applicable
5. Required Consents Schedule: List of all required governmental and regulatory consents
6. Existing Tenancies Schedule: Details of any existing tenancies including lease terms
7. Outstanding Works Schedule: List of any works to be completed before completion
8. Property Certificate Schedule: Copies of relevant certificates including Certificate of Occupancy
Authors
Property
Purchase Price
Completion Date
Completion
Certificate of Occupancy
Governor's Consent
Deposit
Business Day
Land Registry
Title Documents
Encumbrances
Survey Plan
Deed of Assignment
Effective Date
Force Majeure
Ground Rent
Land Use Act
Material Adverse Effect
Outgoings
Parties
Permitted Use
Planning Laws
Property Documents
Purchase Rights
Requisite Consents
Seller's Solicitor
Buyer's Solicitor
Stamp Duty
Term
Transfer Documents
Warranties
Working Days
Legal Mortgage
Vacant Possession
Registration Fees
Search Fees
Fixtures and Fittings
Property Tax
Default Interest Rate
Completion Balance
Due Diligence
Environmental Laws
Existing Tenancies
Good Title
Insurance
Land Use Charge
Notice
Planning Permission
Possession Date
Service Charge
Substantial Completion
Title Insurance
Property Description
Title Matters
Purchase Price
Payment Terms
Deposit
Conditions Precedent
Due Diligence
Seller's Warranties
Buyer's Warranties
Completion
Transfer of Title
Governor's Consent
Registration
Stamp Duty
Property Inspection
Vacant Possession
Existing Tenancies
Environmental Compliance
Planning and Development
Insurance
Risk and Property Maintenance
Default
Termination
Force Majeure
Assignment
Notices
Costs and Taxes
Dispute Resolution
Governing Law
Entire Agreement
Severability
Amendment
Waiver
Further Assurance
Counterparts
Real Estate
Construction
Banking & Finance
Legal Services
Property Development
Hospitality
Retail
Industrial
Agriculture
Education
Healthcare
Legal
Real Estate
Facilities
Finance
Compliance
Corporate Services
Property Management
Business Development
Risk Management
Operations
Legal Counsel
Real Estate Manager
Property Developer
Facilities Manager
Commercial Director
Chief Financial Officer
Property Investment Manager
Compliance Officer
Real Estate Attorney
Land Administrator
Property Acquisition Manager
Real Estate Portfolio Manager
Corporate Services Director
Development Director
Asset Manager
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