The Simple Real Estate Sales Contract is a fundamental legal instrument used in Indonesian property transactions, designed to facilitate the transfer of real estate ownership while ensuring compliance with local laws and regulations. This document is particularly suitable for straightforward property sales where the terms are relatively standard and both parties seek a clear, comprehensive agreement without complex conditional clauses. It incorporates key requirements from Indonesian property law, including the Civil Code and Basic Agrarian Law, while providing essential protections for both buyers and sellers. The contract is commonly used for residential and small commercial property transactions, covering crucial elements such as property description, price, payment terms, and transfer procedures. It serves as a legally binding agreement that can be registered with relevant authorities and used for property title transfer purposes.
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1. Parties: Identification and details of the Seller and Buyer, including their legal names, addresses, and ID numbers
2. Background: Context of the transaction and brief description of the property being sold
3. Definitions: Key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including address, certificate number, land area, and building specifications
5. Purchase Price: Agreed purchase price and payment terms including deposit and completion payment details
6. Payment Method: Specified method of payment and bank account details
7. Conditions Precedent: Conditions that must be met before the sale can proceed
8. Completion: Details of the completion process, including timing and location
9. Seller's Warranties: Warranties regarding property ownership, absence of encumbrances, and condition of the property
10. Buyer's Warranties: Warranties regarding capacity to purchase and source of funds
11. Transfer of Title: Process and obligations regarding the transfer of property title
12. Costs and Taxes: Allocation of transaction costs, taxes, and fees between parties
13. Default: Consequences of default by either party
14. Governing Law: Specification of Indonesian law as governing law
15. Dispute Resolution: Process for resolving disputes between parties
16. Notices: How formal notices should be given between parties
17. Execution: Signature blocks and execution requirements
1. Broker/Agent Provisions: Include when a real estate agent or broker is involved in the transaction
2. Mortgage Contingency: Include when the purchase is contingent on the buyer obtaining mortgage financing
3. Property Inspection: Include when there's a need for property inspection before completion
4. Vacant Possession: Include when the property is currently occupied and needs to be vacated
5. Strata Title Provisions: Include for apartments or properties under strata title
6. Foreign Ownership Provisions: Include when the buyer is a foreign national
7. Construction Completion: Include when the property is still under construction
8. Existing Tenancies: Include when the property has existing tenants
1. Property Description Schedule: Detailed technical description of the property including boundaries, certificate details, and floor plans
2. Payment Schedule: Detailed breakdown of payment installments and timing if not a single payment
3. Property Inventory: List of fixtures, fittings, and contents included in the sale
4. Land Certificate Details: Copy or details of the land certificate and ownership history
5. Property Tax Records: Recent property tax payments and outstanding amounts
6. Due Diligence Results: Results of legal and technical due diligence if already completed
7. Property Photos: Recent photographs of the property documenting its current condition
8. Required Permits: Copies of relevant building permits and certificates
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Property Development
Construction
Banking & Finance
Legal Services
Property Management
Urban Development
Residential Property
Commercial Property
Investment & Asset Management
Relevant Teams
Legal
Real Estate
Property Management
Sales
Compliance
Operations
Investment
Business Development
Risk Management
Contract Administration
Relevant Roles
Real Estate Agent
Property Lawyer
Legal Counsel
Property Manager
Real Estate Developer
Property Acquisition Manager
Legal Director
Compliance Officer
Real Estate Investment Manager
Property Sales Manager
Contract Administrator
Title Officer
Real Estate Broker
Property Consultant
Notary Public
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