Agreement To Sell Real Estate Contract Template for Indonesia

The Agreement To Sell Real Estate Contract is a fundamental document in Indonesian property transactions, used whenever real property is bought or sold within Indonesian territory. This agreement must comply with Indonesian Civil Code requirements and the Basic Agrarian Law, with specific attention to local property regulations and foreign ownership restrictions if applicable. The document serves as the primary agreement between parties before the execution of the final deed transfer (Akta Jual Beli) before a Land Deed Official (PPAT). It includes comprehensive details about the property, parties' obligations, payment terms, and conditions precedent to completion. This agreement is particularly crucial as it forms the basis for the subsequent legal transfer of property rights and must accommodate various requirements specific to Indonesian property law, including proper certification and registration procedures.

1. Parties: Identification of the seller and buyer with complete legal names, addresses, and identification numbers

2. Background: Context of the transaction, including brief property description and parties' intention to enter into sale agreement

3. Definitions: Definitions of 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, payment schedule, and payment method

6. Payment Terms: Detailed payment structure including deposit, installments, and final payment arrangements

7. Conditions Precedent: Conditions that must be satisfied before the sale can proceed

8. Seller's Representations and Warranties: Seller's guarantees regarding property ownership, encumbrances, and condition

9. Buyer's Representations and Warranties: Buyer's guarantees regarding legal capacity and financial ability to purchase

10. Completion: Process and requirements for completing the sale, including deed transfer

11. Default and Termination: Consequences of default and circumstances allowing contract termination

12. Costs and Taxes: Allocation of transaction costs, taxes, and fees between parties

13. Notices: Communication procedures between parties

14. Governing Law: Specification of Indonesian law as governing law and jurisdiction

15. Dispute Resolution: Process for resolving disputes, including choice of forum

16. Miscellaneous: Standard boilerplate provisions including entire agreement, amendments, and severability