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Simple Commercial Real Estate Purchase Agreement
"I need a Simple Commercial Real Estate Purchase Agreement for buying a retail property in Auckland CBD, with settlement planned for March 2025, including provisions for existing tenant rights and specific clauses about building code compliance."
1. Parties: Identification of the vendor and purchaser with full legal names and addresses
2. Background: Context of the transaction and brief description of the property
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Description: Detailed legal description of the property including title references
5. Purchase Price: Statement of purchase price and payment terms including deposit details
6. Settlement: Settlement date, requirements, and process
7. Due Diligence: Terms and timeframes for due diligence investigations
8. Title and Transfer: Requirements for clear title and transfer process
9. Warranties: Vendor's warranties regarding the property and business
10. Default: Consequences of default by either party
11. General Terms: Standard contract terms including notices, amendments, and governing law
12. Execution: Signing provisions and date of agreement
1. Tenant Rights: Required if the property is sold subject to existing tenancies
2. GST Provisions: Required if either party is GST registered and the transaction is subject to GST
3. Resource Consent: Required if property development or change of use is contemplated
4. Overseas Investment: Required if purchaser is an overseas person/entity requiring OIO approval
5. Finance Condition: Optional clause if purchase is subject to finance approval
6. Building Inspection: Optional condition for specific building inspection requirements
7. Environmental Matters: Required if there are known environmental issues or contamination
8. Development Rights: Required if specific development rights are being transferred
1. Schedule 1 - Property Details: Detailed description of land, improvements, and included chattels
2. Schedule 2 - Payment Schedule: Breakdown of payment terms, deposits, and settlement payments
3. Schedule 3 - Warranties: Detailed list of vendor warranties
4. Schedule 4 - Disclosed Matters: List of issues, defects, or limitations disclosed by vendor
5. Appendix A - Title Documents: Copy of title and relevant registered documents
6. Appendix B - LIM Report: Land Information Memorandum report details
7. Appendix C - Lease Agreements: Copies of existing lease agreements if applicable
8. Appendix D - Plans and Drawings: Property plans, boundary maps, and building drawings
Authors
Business Day
Completion Date
Conditions Date
Deposit
Due Diligence Period
Effective Date
Encumbrances
GST
Improvements
Land
LIM Report
Local Authority
Possession Date
Premises
Property
Purchase Price
Resource Consent
Settlement Date
Settlement
Title
Transfer
Vendor's Solicitor
Purchaser's Solicitor
Working Day
Permitted Use
Chattels
Default Interest Rate
Due Diligence Information
Material Adverse Change
Requisitions
Settlement Statement
Tenancies
Utilities
Warranties
Property Description
Purchase Price
Deposit
Due Diligence
Title and Transfer
Settlement
Conditions Precedent
Warranties
Property Inspection
Insurance
Default
Risk and Possession
GST
Assignment
Notices
Confidentiality
Dispute Resolution
Force Majeure
Governing Law
Severability
Entire Agreement
Variations
Time of Essence
Further Assurance
Costs
Compliance
Environmental
Tenancy
Property Access
Local Authority Requirements
Resource Management
Building Compliance
Title Matters
Caveat
Real Estate
Commercial Property
Legal Services
Banking and Finance
Property Development
Construction
Insurance
Professional Services
Property Management
Urban Planning
Legal
Real Estate
Property Management
Commercial Development
Finance
Facilities
Acquisitions
Asset Management
Risk Management
Compliance
Property Lawyer
Real Estate Agent
Commercial Property Manager
Business Owner
Property Developer
Commercial Property Broker
Legal Counsel
Conveyancing Lawyer
Property Consultant
Business Development Manager
Investment Manager
Asset Manager
Property Valuer
Chief Financial Officer
Facilities Manager
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