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Home Contract
"I need a standard Home Contract for purchasing a 2-bedroom apartment in Happy Valley, Hong Kong, with completion scheduled for March 15, 2025; this should be a straightforward transaction with no existing tenancy."
1. Parties: Identification and details of the vendor and purchaser, including HKID/passport numbers and correspondence addresses
2. Background: Context of the transaction and brief description of the property being sold/purchased
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property, including address, lot number, and registered details
5. Purchase Price: Statement of the purchase price and payment terms, including deposit arrangements
6. Completion: Completion date, procedures, and requirements for completion of the sale
7. Title and Documents: Vendor's obligations regarding proof of title and delivery of necessary documents
8. Vacant Possession: Conditions for delivering vacant possession of the property
9. Representations and Warranties: Standard warranties about the property's condition and vendor's authority to sell
10. Default Provisions: Consequences of default by either party and available remedies
11. Costs and Stamp Duty: Allocation of legal costs, stamp duty, and other expenses
12. Notices: Process for serving notices between parties
13. Governing Law: Confirmation of Hong Kong law as governing law and jurisdiction
1. Existing Tenancy: Required when the property is sold subject to an existing tenancy
2. Mortgage Status: Include when the property has an existing mortgage that needs to be discharged
3. Property Management: Required for properties in managed buildings or estates
4. Car Parking Space: Include when the sale includes a parking space
5. Furniture and Fittings: Required when the sale includes specific furniture or fittings
6. Special Conditions: For any unique requirements or conditions specific to the transaction
7. Agent Commission: Include when property agents are involved in the transaction
1. Schedule 1 - Property Details: Detailed property information including lot number, floor area, and building plans
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment terms and installments
3. Schedule 3 - Inventory List: List of furniture and fittings included in the sale (if applicable)
4. Schedule 4 - Existing Defects: Documentation of any existing defects or damage acknowledged by both parties
5. Appendix A - Floor Plan: Official floor plan of the property
6. Appendix B - Land Search: Recent land search results showing title details
7. Appendix C - Deed of Mutual Covenant: Relevant extracts from the Deed of Mutual Covenant (for properties in multi-unit buildings)
Authors
Real Estate
Legal Services
Banking and Finance
Property Management
Insurance
Construction
Property Development
Professional Services
Legal
Real Estate
Compliance
Property Management
Sales
Documentation
Risk Management
Customer Relations
Property Services
Conveyancing
Real Estate Agent
Property Lawyer
Conveyancing Solicitor
Property Manager
Mortgage Advisor
Legal Counsel
Property Valuer
Banking Officer
Compliance Officer
Real Estate Development Manager
Property Transaction Manager
Title Registration Officer
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