The Contract To Buy And Sell (Real Estate) is a fundamental legal document used in Irish property transactions to formalize the agreement between a property seller and buyer. This document is essential for any real estate transaction in Ireland, whether residential or commercial, and must comply with Irish property law, including the Land and Conveyancing Law Reform Act 2009 and related legislation. It serves as the primary agreement governing the transaction, incorporating all necessary terms, conditions, warranties, and obligations of both parties. The contract includes crucial details such as property description, purchase price, completion dates, title requirements, and specific conditions of sale. It is typically prepared following initial negotiations and remains conditional until formal exchange, after which it becomes legally binding on both parties.
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1. Parties: Identifies and provides full details of the vendor(s) and purchaser(s), including names, addresses, and any relevant company details
2. Background: Sets out the context of the transaction, including brief property description and parties' intentions
3. Definitions: Defines key terms used throughout the agreement for clarity and legal certainty
4. Property Description: Detailed description of the property, including its folio number, boundaries, and registered title
5. Purchase Price: Specifies the agreed purchase price, payment terms, and deposit requirements
6. Completion: Details the completion date, process, and requirements for closing the transaction
7. Title and Registration: Addresses the vendor's obligation to show good marketable title and the registration process
8. Vendor's Warranties: Lists the vendor's warranties regarding the property's condition, title, and disclosed information
9. Purchaser's Warranties: Contains purchaser's confirmations regarding capacity to purchase and funding arrangements
10. Planning and Development: Addresses planning permissions, compliance, and development status
11. Condition of Property: Details the state in which the property will be transferred and any included/excluded items
12. Risk and Insurance: Specifies when risk passes to the purchaser and insurance requirements
13. Default: Outlines consequences of default by either party and available remedies
14. Notices: Specifies how formal notices between parties should be given
15. Governing Law: Confirms Irish law as governing law and jurisdiction
1. Tenant Rights: Required when the property is sold subject to existing tenancies
2. VAT: Required when the transaction is subject to VAT
3. Management Company: Required for apartments or managed developments
4. Agricultural Provisions: Required for agricultural land sales
5. Planning Permission Conditions: Required when the sale is conditional on obtaining specific planning permissions
6. Mortgage Details: Required when the property is being sold subject to an existing mortgage
7. Special Conditions: For any unique requirements specific to the transaction
8. Environmental Matters: Required when environmental issues need specific attention
9. Development Rights: Required when selling with specific development potential or restrictions
1. Schedule 1: Property Details: Comprehensive property description, including maps and plans
2. Schedule 2: Fixtures and Fittings: Detailed list of items included and excluded from the sale
3. Schedule 3: Planning Documentation: List of relevant planning permissions, certificates, and notices
4. Schedule 4: Title Documents: List of title documents and relevant searches
5. Schedule 5: Property Certificates: BER certificates, tax clearance, and other relevant certificates
6. Appendix A: Property Maps: Official maps showing property boundaries and location
7. Appendix B: Planning Permissions: Copies of relevant planning permissions and applications
8. Appendix C: Service Contracts: Details of ongoing service contracts affecting the property
9. Appendix D: Building Certificates: Compliance certificates and building regulation approvals
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