Document background
The Home Purchase Agreement is a fundamental legal document used in Hong Kong real estate transactions to formalize the sale and purchase of residential properties. This document is essential when any residential property is being transferred from a vendor to a purchaser in Hong Kong, whether it's a first-hand or secondary market transaction. The agreement must comply with Hong Kong's legal framework, particularly the Conveyancing and Property Ordinance and Stamp Duty Ordinance, while addressing specific local market practices and requirements. It contains comprehensive details about the property, transaction terms, and obligations of all parties involved, serving as the primary reference document throughout the conveyancing process. The agreement is typically prepared by solicitors and must incorporate various mandatory provisions required by Hong Kong law, making it distinct from property purchase agreements in other jurisdictions.
