Document background
The Preliminary Sale Contract is a crucial document in Irish property transactions that formalizes the intention to sell and purchase property. It is typically prepared after initial terms are agreed upon but before the final conveyancing process begins. This contract captures essential details about the property, parties involved, and transaction terms, serving as the primary reference point throughout the sale process. Under Irish law, this document must comply with the Land and Conveyancing Law Reform Act 2009 and other relevant legislation. It is commonly used in both residential and commercial property transactions, requiring careful consideration of title issues, planning permissions, and property-specific conditions. The Preliminary Sale Contract becomes binding once signed by both parties, subject to any conditions precedent, and forms the basis for the subsequent steps in the property transfer process.
