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Contract Of Purchase And Sale For Commercial (Real Estate)
"I need a Contract Of Purchase And Sale For Commercial (Real Estate) for purchasing a vacant office building in Central, Hong Kong, with completion scheduled for March 15, 2025; the building will be acquired with vacant possession and we need specific provisions for conducting extensive renovations post-completion."
1. Parties: Identification of the vendor and purchaser with full legal names and registration details
2. Background: Context of the transaction and brief description of the property
3. Definitions: Defined terms used throughout the agreement
4. Property Details: Comprehensive description of the property including lot number, address, and registered particulars
5. Purchase Price: Agreement on purchase price, payment structure, and deposit arrangements
6. Conditions Precedent: Conditions that must be satisfied before completion
7. Due Diligence: Vendor's obligations to provide documentation and purchaser's investigation rights
8. Title and Ownership: Warranties regarding title and existing encumbrances
9. Completion: Completion date, requirements, and procedures
10. Vendor's Obligations: Pre-completion and completion obligations of the vendor
11. Purchaser's Obligations: Pre-completion and completion obligations of the purchaser
12. Default and Termination: Consequences of default and termination rights
13. Stamp Duty: Responsibilities for stamp duty payment
14. Representations and Warranties: Standard and specific warranties from both parties
15. Notices: Process for giving formal notices under the agreement
16. Governing Law and Jurisdiction: Confirmation of Hong Kong law and jurisdiction
1. Existing Tenancies: Required when the property is sold subject to existing leases
2. Environmental Matters: Needed for properties with potential environmental concerns
3. Planning and Development: Include when the property has ongoing or potential development issues
4. VAC Possession: Required when immediate vacant possession is part of the agreement
5. Property Management: Include for properties in managed developments
6. Tax Indemnities: Required for complex commercial transactions with specific tax implications
7. Assignment Rights: Include when either party may need to assign their rights
8. Break Clause: Optional early termination provisions
9. Conditions Subsequent: Include when certain conditions must be met after completion
1. Property Schedule: Detailed property description, including floor plans and boundaries
2. Title Documents: List of title documents and encumbrances
3. Existing Tenancies Schedule: Details of all existing leases and tenancy agreements
4. Inventory: List of fixtures, fittings, and equipment included in the sale
5. Outstanding Works: Details of any outstanding repairs or works to be completed
6. Form of Transfer: Prescribed form of transfer deed
7. Due Diligence Documents: List of documents provided for due diligence
8. Property Management Agreement: Details of ongoing management arrangements
9. Completion Requirements: Detailed list of completion deliverables and requirements
Authors
Commercial Real Estate
Retail
Office Space
Industrial
Hospitality
Mixed-Use Development
Warehousing
Healthcare Facilities
Educational Facilities
Entertainment Venues
Banking and Financial Services
Professional Services
Manufacturing
Logistics
Legal
Real Estate
Finance
Compliance
Operations
Risk Management
Corporate Secretariat
Facilities Management
Investment
Asset Management
Property Management
Business Development
Due Diligence
Real Estate Director
Property Manager
Commercial Lawyer
Legal Counsel
Chief Financial Officer
Investment Manager
Asset Manager
Facilities Manager
Corporate Secretary
Risk Manager
Operations Director
Development Manager
Acquisition Manager
Real Estate Partner
Property Consultant
Compliance Officer
Due Diligence Manager
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