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Building Purchase Agreement
"I need a Building Purchase Agreement for acquiring a commercial property in Cape Town's central business district, with specific provisions for existing tenants and a completion date of March 2025."
1. Parties: Identification and details of the Seller and Purchaser, including registration numbers for companies or ID numbers for individuals
2. Background: Context of the sale and brief description of the property being sold
3. Definitions and Interpretation: Definitions of key terms used in the agreement and rules for interpreting the document
4. Sale of Property: Core agreement of sale, including property description and confirmation of purchase and sale
5. Purchase Price: Amount, payment terms, deposit requirements, and payment schedule
6. Transfer and Registration: Process and timing for property transfer, appointment of conveyancer, and registration requirements
7. Possession and Risk: Date of transfer of possession, risk, and responsibility for the property
8. Warranties and Representations: Seller's warranties regarding property condition, title, and other material aspects
9. Property Condition: Current state of the property, defects, and condition assessment
10. Costs and Transfer Duties: Allocation of transfer costs, duties, and other expenses
11. Municipal Requirements: Compliance with municipal regulations, rates, and taxes
12. Breach and Termination: Consequences of breach and termination provisions
13. Dispute Resolution: Process for resolving disputes between parties
14. Notices and Domicilia: Communication methods and official addresses for notices
15. General Provisions: Standard legal provisions including entire agreement, variation, and governing law
1. Occupancy and Existing Tenants: Used when the property has existing tenants or occupants, detailing their rights and transition arrangements
2. Mortgage Bond: Included when the purchase is subject to the buyer obtaining mortgage financing
3. Property Management: Relevant for commercial properties or those with ongoing management requirements
4. VAT Provisions: Required when the transaction is subject to VAT
5. Development Rights: Included when there are existing or potential development rights attached to the property
6. Environmental Matters: Required for properties with environmental concerns or requirements
7. Body Corporate Provisions: Necessary for sectional title properties
8. Heritage Requirements: Included for properties with heritage status or restrictions
1. Schedule A - Property Description: Detailed description of the property including erf number, title deed details, and physical address
2. Schedule B - Purchase Price Breakdown: Detailed breakdown of the purchase price, payment terms, and schedules
3. Schedule C - Fixtures and Fittings: List of included and excluded fixtures, fittings, and other items
4. Schedule D - Defects List: Documented defects and condition issues identified during inspection
5. Schedule E - Compliance Certificates: List of required compliance certificates and their status
6. Appendix 1 - Property Plans: Building plans, site plans, and relevant architectural drawings
7. Appendix 2 - Zoning Certificate: Current zoning certificate and land use rights
8. Appendix 3 - Title Deed: Copy of the current title deed
9. Appendix 4 - Municipal Account: Recent municipal accounts showing rates, taxes, and utility charges
Authors
Building
Business Day
Commencement Date
Compliance Certificates
Conveyancer
Deeds Office
Defects
Deposit
Effective Date
Erf
Fixtures and Fittings
Land
Municipal Rates
Occupation Date
Parties
Property
Purchase Price
Purchaser
Registration Date
Seller
Signature Date
Title Deed
Transfer
Transfer Date
Transfer Duty
VAT
Warranties
Zoning Certificate
Bond
Bond Originator
Body Corporate
Common Property
Improvements
Levies
Occupational Rent
Permitted Use
Plans
Property Practitioner
Rates Clearance Certificate
Sectional Title Register
Transfer Costs
Property Description
Purchase Price
Payment Terms
Transfer and Registration
Possession and Occupation
Warranties
Property Condition
Compliance Certificates
Municipal Matters
Transfer Costs
Risk and Insurance
Fixtures and Fittings
Due Diligence
Suspensive Conditions
Bond Finance
Representations
Existing Tenancies
Zoning and Use
Building Inspection
Default and Breach
Dispute Resolution
Force Majeure
Notices
Assignment
Governing Law
Variation
Entire Agreement
Severability
Costs
Confidentiality
Termination
Indemnification
Good Faith
Time Periods
Property Management
Environmental Matters
Title Deed Conditions
Body Corporate
Development Rights
Real Estate
Construction
Property Development
Banking and Finance
Legal Services
Insurance
Commercial Property
Residential Property
Property Investment
Municipal Services
Legal
Real Estate
Property Management
Facilities
Finance
Compliance
Risk Management
Operations
Commercial
Development
Acquisitions
Asset Management
Property Lawyer
Real Estate Agent
Property Developer
Commercial Director
Facilities Manager
Legal Counsel
Property Manager
Compliance Officer
Risk Manager
Investment Manager
Chief Financial Officer
Operations Director
Development Manager
Asset Manager
Acquisitions Manager
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