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Generic Property Sales Agreement
"I need a Generic Property Sales Agreement for selling my commercial warehouse property in Texas, with specific provisions for existing tenant rights and environmental compliance requirements, planned to close by March 2025."
1. Parties: Identification of buyer and seller with full legal names and addresses
2. Background/Recitals: Context of the sale and basic property information
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed legal description of the property being sold
5. Purchase Price: Amount and payment terms
6. Closing: Date, location, and requirements for closing
7. Representations and Warranties: Standard declarations by both parties
8. Title and Deed: Title transfer provisions and deed requirements
9. Governing Law: Applicable jurisdiction and law
1. Financing Contingency: Terms if sale depends on buyer securing financing - include when buyer requires mortgage or other financing
2. Inspection Contingency: Terms for property inspection rights - include when buyer wants right to inspect before closing
3. Property Maintenance: Obligations regarding property condition before closing - include when there's significant time between agreement and closing
4. Tenant Rights: Provisions regarding existing tenants - include when property is currently leased
1. Schedule A - Property Description: Detailed legal description and property boundaries
2. Schedule B - Fixtures and Fittings: List of included/excluded items in sale
3. Schedule C - Title Exceptions: Known liens, encumbrances, or easements
4. Schedule D - Property Disclosure Statement: Seller's disclosure of property condition and known issues
5. Appendix 1 - Property Images: Photos and plans of the property
6. Appendix 2 - Inspection Reports: Any existing property inspection reports
Authors
Property
Purchase Price
Closing Date
Closing
Deposit
Earnest Money
Effective Date
Fixtures
Personal Property
Title
Deed
Encumbrances
Due Diligence Period
Inspection Period
Contingencies
Business Day
Seller's Disclosure Statement
Title Insurance
Title Company
Escrow Agent
Permitted Exceptions
Real Property
Improvements
Appurtenances
Warranties
Default
Force Majeure
Parties
Broker
Survey
Zoning Laws
Environmental Laws
Closing Costs
Prorations
Purchase Price
Payment Terms
Title Transfer
Due Diligence
Property Inspection
Contingencies
Representations and Warranties
Closing Conditions
Risk of Loss
Default and Remedies
Property Access
Insurance
Environmental Compliance
Possession
Property Condition
Fixtures and Fittings
Notices
Assignment
Dispute Resolution
Force Majeure
Governing Law
Severability
Entire Agreement
Amendment
Survival
Indemnification
Broker Commission
Recording
Counterparts
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