The Standard Real Estate Contract serves as the foundational document for property transactions in England and Wales. It is used when transferring ownership of real property, whether residential or commercial, and ensures compliance with all relevant property legislation. The contract includes essential elements such as property description, purchase price, completion dates, and warranties, while incorporating necessary protections for both parties. This document is crucial for establishing clear terms and conditions of sale, and must comply with specific requirements under English and Welsh property law.
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1. Parties: Details of the buyer and seller
2. Background: Context of the transaction
3. Definitions: Key terms used throughout the contract
4. Property Description: Detailed description of the property including title number
5. Purchase Price: Amount and payment terms
6. Completion Date: Date for completion of the sale
7. Title Guarantee: Extent of title guarantee provided by seller
8. Vacant Possession: Conditions of property transfer
1. Fixtures and Fittings: Details of included/excluded items when specific items need to be included or excluded from sale
2. Planning Permissions: Details of existing permissions when property has specific planning conditions or permissions
3. Environmental Matters: Environmental issues and warranties when environmental concerns exist
4. Tenant Provisions: Details of existing tenancies when property is sold subject to tenancies
1. Property Plan: Land Registry compliant plan of the property
2. Fixtures and Fittings Inventory: Detailed list of included/excluded items
3. Title Documents: Copies of relevant title documents
4. Property Information Form: Standard form providing detailed property information
5. Fittings and Contents Form: Standard form detailing what is included in sale
6. Energy Performance Certificate: Mandatory energy efficiency assessment
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