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Closing Agreement (Real Estate)
"I need a Real Estate Closing Agreement for a commercial property sale in Auckland, New Zealand, with settlement scheduled for March 15, 2025, that includes specific provisions for existing tenants and GST requirements."
1. Parties: Identifies and provides full legal details of the seller, purchaser, and any other relevant parties
2. Background: Outlines the context of the agreement, including reference to the original sale and purchase agreement
3. Definitions: Defines key terms used throughout the agreement
4. Property Details: Comprehensive description of the property being transferred, including legal description and title references
5. Purchase Price and Payment: Confirms the final purchase price and details of payment arrangements
6. Conditions Precedent Status: Confirms all conditions from the original sale agreement have been satisfied or waived
7. Settlement Details: Specifies the settlement date, time, and location, including mechanics of closing
8. Pre-Settlement Obligations: Lists all requirements to be completed before settlement by each party
9. Settlement Process: Details the sequence of events for settlement day, including document exchanges and payments
10. Post-Settlement Obligations: Outlines any obligations that continue after settlement
11. General Provisions: Standard legal provisions including governing law, notices, and dispute resolution
12. Execution: Signature blocks and execution requirements for all parties
1. Tenant Provisions: Required when the property is being sold with existing tenancies
2. GST Provisions: Required when the transaction involves GST considerations
3. Overseas Investment Provisions: Required when the purchaser is an overseas person under the Overseas Investment Act
4. Body Corporate Provisions: Required for unit title properties
5. Remediation Works: Required when there are outstanding works to be completed post-settlement
6. Vendor Finance: Required when the seller is providing any form of finance to the purchaser
7. Chattels: Required when specific chattels are included in the sale requiring special attention at closing
1. Schedule 1 - Property Details: Detailed property description, including title references, easements, and encumbrances
2. Schedule 2 - Purchase Price Breakdown: Itemized breakdown of the purchase price, including adjustments and apportionments
3. Schedule 3 - Settlement Checklist: Comprehensive list of items to be delivered or completed at settlement
4. Schedule 4 - Required Documents: List of all documents required for settlement from each party
5. Appendix A - Title Documents: Copies of relevant title documents and plans
6. Appendix B - Transfer Documents: Forms and documents required for property transfer
7. Appendix C - Outstanding Conditions Evidence: Documentation proving satisfaction of all conditions precedent
Authors
Business Day
Completion
Conditions Precedent
Completion Date
Default Rate
Deposit
Encumbrances
GST
Land
LINZ
Property
Purchase Price
Settlement
Settlement Date
Settlement Time
Title
Transfer
Vendor
Purchaser
Working Day
Possession Date
Permitted Encumbrances
Registration
Requirements of Authorities
Sale and Purchase Agreement
Settlement Statement
Stakeholder
Title Documents
Transaction Documents
Unit Title
Chattels
Outgoings
Rates
Outstanding Indebtedness
Requisitions
Search
Solicitor
Keys
Land Transfer Office
Notice
Parties
Payment
Purchase Price
Settlement
Payment Terms
Title Transfer
Conditions Precedent
Pre-Settlement Obligations
Post-Settlement Obligations
Representations and Warranties
Property Possession
Keys and Access
Adjustments and Apportionments
GST
Risk and Insurance
Default
Notices
Assignment
Force Majeure
Dispute Resolution
Governing Law
Severability
Entire Agreement
Costs
Compliance with Authorities
Property Access
Chattels Transfer
Document Registration
Tenancy Matters
Body Corporate
Overseas Investment
Further Assurances
Confidentiality
Survival of Obligations
Real Estate
Property Development
Legal Services
Banking and Finance
Property Management
Construction
Investment
Commercial Property
Residential Property
Property Investment
Legal
Real Estate
Property Management
Conveyancing
Settlements
Compliance
Risk Management
Finance
Investment
Business Development
Property Lawyer
Conveyancing Lawyer
Real Estate Agent
Property Manager
Settlement Officer
Legal Executive
Banking Relationship Manager
Property Development Manager
Investment Manager
Compliance Officer
Real Estate Partner
Property Law Associate
Legal Counsel
Transaction Manager
Due Diligence Officer
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