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Buyer Seller Agreement (Real Estate)
"I need a Buyer Seller Agreement (Real Estate) for a residential property purchase in Hong Kong, with completion scheduled for March 2025, including provisions for a 10% initial deposit and mortgage financing arrangements."
1. Parties: Identification and details of the Vendor and Purchaser, including Hong Kong Identity Card/Business Registration numbers
2. Background: Context of the transaction, including brief property description and intention to sell/purchase
3. Definitions: Definitions of key terms used throughout the agreement, including 'Property', 'Completion Date', 'Purchase Price'
4. Sale and Purchase: Core agreement to sell and purchase the property, including the purchase price and payment terms
5. Deposit: Details of the initial deposit, stakeholding arrangements, and any further deposit requirements
6. Title: Vendor's obligations regarding good title and purchaser's right to raise requisitions
7. Completion: Completion date, time and location, completion obligations of both parties
8. Vacant Possession: Obligation to deliver vacant possession upon completion
9. Representations and Warranties: Standard warranties by both parties, including vendor's warranties about the property
10. Risk and Insurance: Property risk allocation and insurance requirements until completion
11. Default: Consequences of default by either party and available remedies
12. Stamp Duty: Responsibilities for various stamp duties applicable to the transaction
13. Notices: Method and addresses for serving notices between parties
14. Governing Law: Confirmation of Hong Kong law as governing law and jurisdiction
1. Existing Tenancies: Required when property is sold subject to existing tenancies, detailing arrangements and assignments
2. Mortgage: Include when property is being sold subject to an existing mortgage or purchaser requires mortgage financing
3. Property Management: Include for properties in multi-unit buildings, detailing management fee arrangements and outstanding charges
4. Conditions Precedent: Include when completion is conditional upon certain events (e.g., obtaining mortgage approval)
5. Furniture and Fittings: Include when sale includes specific furniture or fittings
6. Car Parking Space: Include when transaction includes car parking space
7. Power of Attorney: Include when either party is acting through an attorney
8. Special Conditions: Any special terms agreed between parties that deviate from standard terms
1. Schedule 1 - Property Description: Detailed property description including lot number, address, and registered details
2. Schedule 2 - Purchase Price Payment Schedule: Breakdown of payment installments and timing
3. Schedule 3 - Property Inventory: List of included fixtures, fittings, and furniture (if applicable)
4. Schedule 4 - Existing Tenancies: Details of any existing tenancy agreements (if applicable)
5. Schedule 5 - Outstanding Management Fees: Statement of outstanding management fees and other charges
6. Appendix A - Property Plans: Floor plans and location plans of the property
7. Appendix B - Title Documents: Copies of relevant title documents and search records
8. Appendix C - Provisional Agreement: Copy of the provisional sale and purchase agreement if applicable
Authors
Real Estate
Legal Services
Banking and Finance
Property Development
Property Management
Professional Services
Construction
Investment
Legal
Real Estate
Compliance
Property Management
Sales
Investment
Operations
Risk Management
Documentation
Corporate Services
Real Estate Lawyer
Property Lawyer
Conveyancing Solicitor
Real Estate Agent
Property Manager
Legal Counsel
Compliance Officer
Property Developer
Investment Manager
Real Estate Investment Director
Property Transaction Manager
Banking Manager
Mortgage Specialist
Real Estate Broker
Property Consultant
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