Contract for sale—sale by mortgagee incorporating the Standard Commercial Property Conditions (Third Edition)
Contract for sale—sale by mortgagee incorporating the Standard Commercial Property Conditions (Third Edition)

The following Property precedent provides comprehensive and up to date legal information covering:

  • Contract for sale—sale by mortgagee incorporating the Standard Commercial Property Conditions (Third Edition)
  • 1 Definitions
  • 2 Interpretation
  • 3 Agreement to sell
  • 4 Consent
  • 5 Deposit
  • 6 Title
  • 7 Title guarantee
  • 8 Matters affecting the Property
  • 9 Risk and insurance
  • More...

Coronavirus (COVID-19): the coronavirus pandemic has caused the UK to expedite new insolvency provisions, both of a temporary and permanent nature. For news and guidance as to the implications from a property perspective see: Coronavirus (COVID-19)—implications for property — Property Insolvency.

date [date]

Parties

  1. 1

    [name of Seller, ie the mortgagee] [of OR incorporated in England and Wales with company registration number [number] whose registered office is at] [address] (Seller)

  1. 2

    [name of Buyer] [of OR incorporated in England and Wales with company registration number [number] whose registered office is at] [address] the Buyer)

    1. 1

      Definitions

      In this Agreement the following definitions apply:

      Actual Completion

      1. the date of the Transfer of the Property, and references in the Standard Conditions to 'actual completion' must be read accordingly;

      Buyer’s Solicitors

      1. [name] of [address] (reference [details]);

      [Charge[s]

      1. the charge[s] appearing at entry [number] [and [number]] in the charges register of [the Property OR title number [number]] at [date of official copy entries];]

      [Chattels

      1. the items listed at Schedule 2;]

      [Chattels Price

      1. £[amount];]

      Completion Date

      1. [date] [or, if later, [5] working days after the Consent is obtained];

      [Consent

      1. written consent to the Transfer (satisfying the requirements of the Lease) from the Landlord [and any Superior Landlord];]

      Deposit

      1. [number]% of the Price;

      [Employees

      1. the employees listed in Schedule 6 and ‘Employee’ means any one of them;]

      HMRC

      1. HM Revenue & Customs;

      Interest

      1. interest at a rate of [4]% per annum over the base

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