The Contract To Sell Land By Owner is essential when property owners wish to sell their land or property directly to buyers in England and Wales. This document is particularly useful for reducing transaction costs by eliminating estate agent fees. It must include specific elements required by English law, such as precise property description, purchase price, completion arrangements, and title guarantees. The contract ensures compliance with the Law of Property Act 1925 and related legislation, providing legal protection for both parties while facilitating the transfer of ownership.
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1. Parties: Details of the seller and buyer, including full names and addresses
2. Background: Context of the sale and brief property description
3. Definitions: Key terms used throughout the contract
4. Property Description: Detailed description of the property being sold, including boundaries and title number
5. Purchase Price: Amount to be paid and payment terms
6. Completion Date: Date for completion of the sale
7. Title Guarantee: Extent of title guarantee given by seller
8. Vacant Possession: Confirmation of vacant possession on completion
1. Deposit Provisions: Terms relating to deposit payment and holding - use when a deposit is required
2. Fixtures and Fittings: List of items included/excluded from sale - use when specific items need to be detailed
3. Planning Permissions: Details of existing planning permissions - use when property has specific planning permissions
4. VAT Provisions: VAT treatment of the sale - use when property is VAT-elected
1. Property Plan: Plan showing the property boundaries
2. Title Documents: Copies of relevant title documents
3. Fixtures and Fittings List: Detailed inventory of items included/excluded
4. Property Information Form: Completed standard property information form
5. Environmental Reports: Any relevant environmental surveys or reports
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