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Agreement Between Buyer And Seller Of Property
I need an Agreement Between Buyer And Seller Of Property under Hong Kong law for the sale of a luxury residential apartment in Happy Valley, including provisions for existing tenancy agreements that will expire in March 2025 and the inclusion of specific high-end furniture items.
1. Parties: Identification and details of the Vendor and Purchaser, including full legal names, identification numbers, and addresses
2. Background: Brief context of the transaction and confirmation of Vendor's ownership and right to sell
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Full legal description of the property, including lot number, address, and registered particulars
5. Purchase Price: Agreed purchase price and payment structure, including initial deposit and balance payment terms
6. Payment Terms: Detailed payment schedule, method of payment, and consequences of default
7. Conditions Precedent: Any conditions that must be satisfied before completion can occur
8. Title and Documents: Vendor's obligations regarding proof of title and delivery of necessary documents
9. Completion: Completion date, venue, and procedural requirements for completion
10. Vendor's Representations and Warranties: Standard warranties about property ownership, condition, and absence of encumbrances
11. Purchaser's Representations and Warranties: Confirmations regarding purchase capacity and funding
12. Default and Termination: Consequences of default by either party and termination provisions
13. Stamp Duty: Responsibilities for payment of various stamp duties applicable to the transaction
14. Notices: Process for serving notices between parties
15. General Provisions: Standard boilerplate clauses including governing law, entire agreement, and amendments
1. Existing Tenancies: Required when the property is sold subject to existing tenancies, detailing tenant rights and obligations
2. Mortgage Status: Required when the property has an existing mortgage that needs to be discharged
3. Property Management: Required for properties in managed buildings, dealing with management fees and obligations
4. Car Parking Space: Required when a parking space is included in the sale
5. Furniture and Fittings: Required when the sale includes specific furniture or fittings
6. Agent Commission: Required when property agents are involved in the transaction
7. Vacant Possession: Required when specific arrangements for vacant possession need to be detailed
8. Defects Liability: Required for new properties with defects liability periods
1. Schedule 1 - Property Description: Detailed property description including floor plans and boundaries
2. Schedule 2 - Purchase Price Breakdown: Itemized breakdown of the purchase price including deposits and payment milestones
3. Schedule 3 - Completion Requirements: Checklist of documents and requirements for completion
4. Schedule 4 - Title Documents: List of title documents to be delivered on completion
5. Schedule 5 - Included Fixtures and Fittings: Inventory of fixtures and fittings included in the sale
6. Appendix A - Property Plans: Floor plans and location plans of the property
7. Appendix B - Prescribed Forms: Standard forms required under Hong Kong law for property transactions
8. Appendix C - Due Diligence Documents: Copies of relevant certificates, permits, and compliance documents
Authors
Assignment
Business Day
Completion
Completion Date
Consideration
Deed of Mutual Covenant
Encumbrances
Government Grant
Government Lease
Government Rent
Hong Kong
Initial Deposit
Land Registry
Management Fee
Mortgage
Occupation Permit
Part
Parties
Property
Purchaser
Purchase Price
Rates
Schedule
Special Condition
Stamp Duty
Title Documents
Transaction Documents
Vacant Possession
Vendor
Working Day
Building Manager
Common Areas
Further Deposit
Balance of Purchase Price
Prescribed Rate
Requisitions
Solicitors
Undivided Shares
Utilities Deposits
Sale and Purchase
Purchase Price
Payment Terms
Deposits
Title
Representations and Warranties
Conditions Precedent
Completion
Property Inspection
Risk and Insurance
Default
Termination
Stamp Duty
Property Management
Assignment
Vacant Possession
Encumbrances
Registration
Costs and Expenses
Force Majeure
Notices
Confidentiality
Entire Agreement
Severability
Waiver
Governing Law
Dispute Resolution
Further Assurance
Time of Essence
Joint and Several Liability
Amendment
Assignment Rights
Survival
Real Estate
Property Development
Banking and Finance
Legal Services
Property Management
Construction
Insurance
Investment
Hospitality
Retail
Legal
Real Estate
Compliance
Risk Management
Property Management
Investment
Operations
Finance
Sales
Business Development
Real Estate Lawyer
Property Agent
Conveyancing Manager
Legal Counsel
Property Manager
Real Estate Director
Compliance Officer
Risk Manager
Property Developer
Investment Manager
Real Estate Investment Analyst
Bank Manager
Mortgage Specialist
Property Valuer
Title Officer
Real Estate Transaction Coordinator
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