Buy With Reservation Agreement for Ireland

Buy With Reservation Agreement Template for Ireland

A Buy With Reservation Agreement is a legal document used in Irish property transactions that establishes the terms under which a potential buyer can reserve a property for a specified period while conducting due diligence and arranging financing. The agreement, governed by Irish law, typically includes provisions for a reservation fee, purchase price, exclusivity period, and conditions for proceeding to full sale. It provides protection for both parties by setting clear terms for the reservation period while allowing the transaction to progress to a formal contract for sale.

Your data doesn't train Genie's AI

You keep IP ownership of your information

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Download a Standard Template

4.6 / 5
4.8 / 5
Access for free
OR

Alternatively: Run an advanced review of an existing
Buy With Reservation Agreement

Let Genie AI's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
Upload your Doc

What is a Buy With Reservation Agreement?

The Buy With Reservation Agreement serves as an important preliminary step in Irish property transactions, particularly useful in situations where buyers need time to arrange financing or conduct due diligence before committing to a full purchase. This document type is commonly used in both residential and commercial property sales in Ireland, providing a structured framework for the reservation period while protecting both parties' interests. It typically includes key details such as property information, reservation fee terms, duration of the reservation period, and conditions for proceeding to sale. The agreement must comply with Irish property law requirements, including the Land and Conveyancing Law Reform Act 2009 and relevant consumer protection legislation. It's particularly valuable in new development sales or when dealing with overseas buyers who may need additional time to arrange their affairs.

What sections should be included in a Buy With Reservation Agreement?

1. Parties: Identification of the seller and potential buyer, including full legal names and addresses

2. Background: Context of the agreement, including brief property description and intention to enter into a reservation agreement

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the property including address, folio number, and boundaries

5. Reservation Terms: Details of the reservation period, including duration and exclusivity rights

6. Reservation Fee: Amount of reservation fee, payment terms, and conditions for refund or forfeiture

7. Purchase Price: Agreed purchase price and payment structure

8. Conditions of Sale: Standard conditions of sale including title requirements and completion timeline

9. Due Diligence: Buyer's rights and timeline for conducting surveys and legal investigations

10. Completion Requirements: Steps required to proceed to full sale contract

11. Termination Rights: Circumstances under which either party may terminate the agreement

12. Notices: Process for formal communications between parties

13. Governing Law: Confirmation of Irish law as governing law and jurisdiction

14. Execution: Signature blocks and execution requirements

What sections are optional to include in a Buy With Reservation Agreement?

1. New Build Provisions: Additional terms specific to new construction properties, including completion dates and building specifications

2. Stage Payments: Payment schedule for properties under construction or requiring phased payments

3. Furniture and Fittings: List of included/excluded items if property is being sold with furniture

4. Planning Permissions: Details of existing or required planning permissions, particularly relevant for properties under development

5. Management Company: Terms relating to management companies for apartments or managed developments

6. Mortgage Clause: Special provisions if the purchase is subject to mortgage approval

7. VAT Provisions: Special VAT considerations, particularly for new builds or commercial properties

What schedules should be included in a Buy With Reservation Agreement?

1. Schedule 1 - Property Description: Detailed property description including maps, plans, and boundaries

2. Schedule 2 - Reserved Matters: Specific items or rights reserved by the seller during the reservation period

3. Schedule 3 - Payment Schedule: Detailed breakdown of all payments including reservation fee, deposit, and balance

4. Schedule 4 - Title Documents: List of title documents and encumbrances affecting the property

5. Appendix A - Property Plans: Maps, floor plans, and site layouts

6. Appendix B - Planning Documents: Copies of relevant planning permissions and certificates

7. Appendix C - Fixtures and Fittings List: Inventory of items included/excluded in the sale

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Ireland

Publisher

Genie AI

Document Type

Purchase Agreement

Cost

Free to use
Relevant legal definitions
Relevant Industries

Residential Real Estate

Commercial Real Estate

Property Development

Construction

Legal Services

Financial Services

Property Management

Real Estate Investment

Relevant Teams

Legal

Real Estate

Sales

Property Development

Contracts Administration

Commercial Property

Residential Property

Conveyancing

Property Management

Investment

Relevant Roles

Property Lawyer

Real Estate Agent

Property Developer

Conveyancing Solicitor

Legal Counsel

Property Manager

Sales Director

Commercial Property Manager

Residential Sales Manager

Legal Director

Property Investment Manager

Development Director

Contracts Manager

Industries
Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

Find the exact document you need

Contract For Buying A Business

An Irish law-governed agreement detailing the terms and conditions for the purchase and sale of a business, including all essential transaction elements and regulatory compliance requirements.

find out more

Buyers Contract

An Irish law-governed agreement outlining terms and conditions for purchasing goods or services, incorporating buyer protections and commercial requirements.

find out more

Buy With Reservation Agreement

An Irish law agreement establishing terms for reserving a property during pre-purchase investigations and financing arrangements.

find out more

Basic Purchase Agreement

An Irish law-governed agreement that establishes the basic terms and conditions for the sale and purchase of goods between two parties.

find out more

Forward Purchase Agreement (Real Estate)

An Irish law agreement for the future purchase of real estate, typically involving property under construction or development, with pre-agreed terms and conditions.

find out more

Customer List Purchase Agreement

An Irish law-governed agreement for the sale and transfer of customer lists between businesses, ensuring GDPR compliance and data protection.

find out more

Car Buying Contract

An Irish law-governed agreement for the sale and purchase of motor vehicles, incorporating essential terms and regulatory requirements for vehicle transactions in Ireland.

find out more

Sell Agreement

An Irish law-governed agreement documenting the sale and transfer of goods, assets, or property between parties, outlining key terms and conditions of the transaction.

find out more

Vehicle Hire Purchase Agreement

An Irish law-governed agreement for the purchase of a vehicle through installment payments, where ownership transfers to the hirer upon completion of all payments.

find out more

Personal Property Addendum

An Irish law-compliant addendum detailing terms and conditions for personal property items within a primary agreement, including ownership, use, and maintenance requirements.

find out more

Contingent Purchase Agreement

An Irish law-governed agreement setting out terms for a purchase transaction subject to specific conditions being met, including purchase terms, conditions precedent, and completion mechanisms.

find out more

Conditional Purchase Agreement

An Irish law agreement governing the sale of assets where ownership transfer is conditional upon specific requirements, typically full payment completion.

find out more

Land Sales Agreement

An Irish law-governed agreement for the sale and purchase of land, setting out the terms, conditions, and obligations for property transfer between parties.

find out more

Dealer Purchase Agreement

An Irish law-governed agreement between a manufacturer/supplier and dealer establishing terms for product purchase and resale, including territorial rights and operational requirements.

find out more

Buying Agency Agreement

An Irish law agreement appointing an agent to source and purchase goods on behalf of a principal, setting out the terms of their commercial relationship.

find out more

Buy Tenancy Agreement

An Irish law-governed agreement combining property rental terms with a future purchase option, establishing rights and obligations for both landlord/seller and tenant/buyer.

find out more

Final Purchase Agreement

An Irish law-governed agreement that finalizes the terms and conditions of a sale transaction between parties, including all essential elements of the purchase.

find out more

Land Purchase Agreement Form

An Irish law-governed agreement for the legal transfer of land ownership between a vendor and purchaser, detailing all aspects of the property transaction.

find out more

Joint Purchase Agreement For Vehicle

An Irish law-governed agreement establishing terms for joint vehicle purchase and ownership between multiple parties, defining rights, responsibilities, and ownership shares.

find out more

Timeshare Purchase Agreement

An Irish law-governed agreement for the purchase of a timeshare interest, complying with EU consumer protection regulations and establishing rights and obligations of all parties.

find out more

Private Party Car Sale Contract

An Irish law-governed contract for the private sale of a motor vehicle between individuals, documenting vehicle details, price, and transfer terms.

find out more

Co Purchase Agreement

An Irish law agreement establishing terms and conditions for joint property purchase and ownership between multiple parties in Ireland.

find out more

Commercial Offer To Purchase

An Irish law-governed document presenting a formal offer to purchase commercial property, including key terms and conditions of the proposed transaction.

find out more

Letter Of Intent To Purchase Property

An Irish law-governed preliminary document expressing a potential buyer's intention to purchase property and outlining key proposed terms of the transaction.

find out more

Option Purchase Agreement Film

An Irish law-governed agreement granting exclusive rights to purchase film rights to a creative work within a specified period.

find out more

Forward Purchase Contract

An Irish law-governed agreement for the future purchase of specified goods or assets, detailing price, delivery terms, and payment conditions.

find out more

Simple Offer To Purchase Real Estate Form

An Irish legal document presenting a formal offer to purchase real estate, outlining key terms and conditions in compliance with Irish property law.

find out more

Employee Laptop Purchase Agreement

An Irish law-governed agreement enabling employees to purchase laptop computers from their employer with defined payment terms and conditions.

find out more

Trailer Purchase Agreement

An Irish law-governed agreement for the sale and purchase of a trailer, including terms of sale, warranties, and ownership transfer provisions.

find out more

Buyer Contract Agreement

An Irish law-governed agreement setting out terms and conditions for the purchase of goods or services, including payment, delivery, and quality requirements.

find out more

Commercial Lease With Option To Purchase

An Irish law-governed agreement combining a commercial property lease with a future purchase option, setting out terms for both leasing and potential acquisition.

find out more

Rental Purchase Agreement

An Irish law-governed agreement establishing terms for rental purchase arrangements, combining rental terms with a path to ownership through scheduled payments.

find out more

Price Purchase Agreement

An Irish law-governed agreement detailing purchase terms, price, and conditions between buyer and seller.

find out more

Prepaid Forward Purchase Agreement

An Irish law-governed agreement establishing terms for a prepaid forward purchase transaction, including payment mechanisms, delivery obligations, and regulatory compliance requirements.

find out more

Legal Real Estate Contract

An Irish law-governed contract for the sale and purchase of real estate property, establishing terms, conditions, and legal obligations for all parties involved.

find out more

Goods Purchase Agreement

An Irish law-governed agreement setting out terms and conditions for the commercial sale and purchase of goods.

find out more

Pre Purchase Agreement

An Irish law agreement setting out terms and conditions for a future property purchase, including price, deposit, and completion requirements.

find out more

Property Sales Contract Between Seller And Buyer

An Irish law-governed contract for the sale and purchase of property, establishing terms, conditions, and obligations between seller and buyer.

find out more

Vehicle Purchase Agreement

An Irish law-governed agreement documenting the sale and purchase of a vehicle, including essential terms, conditions, and ownership transfer requirements.

find out more

Medical Equipment Purchase Agreement

An Irish law-governed agreement for medical equipment purchase, compliant with EU MDR and Irish healthcare regulations.

find out more
See more related templates

Genie’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; Genie’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

We are ISO27001 certified, so your data is secure

Organizational security:

You retain IP ownership of your documents and their information

You have full control over your data and who gets to see it

2 Docs LeftAccess Now