The Offer to Purchase Real Property serves as the initial formal step in the property buying process in England and Wales. This document is typically used when a prospective buyer has identified a property they wish to purchase and wants to formalize their intention to buy. It includes crucial information such as the proposed purchase price, property details, completion timeframes, and any specific conditions that must be met. The document helps establish clear terms for negotiation and forms the foundation for the eventual contract of sale. It must comply with English property law requirements and is particularly important in establishing the preliminary agreement between parties before proceeding to exchange of contracts.
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1. 1. Details of the Parties: Full legal names and addresses of buyer and seller
2. 2. Property Description: Detailed description of the property including address and title number
3. 3. Purchase Price: Agreed purchase price and payment terms
4. 4. Deposit Terms: Amount and timing of deposit payment
5. 5. Completion Date: Proposed date for completion of the purchase
6. 6. Conditions Precedent: Essential conditions that must be met before proceeding
1. Fixtures and Fittings: Detailed list of items included/excluded in sale - use when specific items need to be clearly identified as included or excluded
2. Survey Conditions: Terms relating to property surveys - use when buyer requires specific survey conditions
3. Chain Details: Information about related property transactions - use when purchase is part of a property chain
1. Schedule 1: Property Details: Detailed property specification including boundaries and rights of way
2. Schedule 2: Fixtures and Fittings List: Comprehensive inventory of included items
3. Appendix A: Property Plans: Plans and drawings of the property
4. Appendix B: Land Registry Documents: Relevant Land Registry documentation
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