The Builders Agreement of Purchase and Sale is essential for transactions involving new construction properties in England and Wales. It serves as both a construction agreement and a sale contract, protecting the interests of both the builder/developer and the purchaser. This document is particularly important when dealing with off-plan purchases or properties under construction, as it details construction specifications, quality standards, completion timelines, and warranty provisions. The agreement must comply with English and Welsh property law, building regulations, and consumer protection legislation.
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1. Parties: Identification of builder/seller and purchaser with full legal names and addresses
2. Background: Context of the agreement, property details, and brief description of the transaction
3. Definitions: Key terms used throughout the agreement including technical construction terms
4. Purchase Price: Amount payable, payment terms, deposits, and stage payments if applicable
5. Property Description: Detailed description of the property being built/sold including plot number and specifications
6. Construction Specifications: Building standards, materials, and quality requirements
7. Completion Date: Timeline for completion, handover process, and delay provisions
8. Warranties: Builder's warranties, guarantees, and defect resolution process
1. Fixtures and Fittings: Details of included items and specifications for buyer-selected options
2. Buyer Modifications: Process and terms for buyer-requested changes during construction
3. Stage Payments: Detailed schedule of construction-linked payments and milestone achievements
4. Planning Conditions: Specific planning requirements and conditions that must be met
1. Schedule 1 - Property Plans: Architectural drawings, site plans, and plot boundaries
2. Schedule 2 - Specifications Schedule: Detailed construction specifications, materials, and finishes
3. Schedule 3 - Fixtures Schedule: Comprehensive list of included fixtures, fittings, and appliances
4. Schedule 4 - Payment Schedule: Detailed payment terms, amounts, and construction milestones
5. Schedule 5 - Planning Permissions: Copies of planning approvals, conditions, and related documentation
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