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For Sale By Owner Property Contract Template for Hong Kong

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Key Requirements PROMPT example:

For Sale By Owner Property Contract

I need a For Sale By Owner Property Contract for my Hong Kong apartment in North Point, with completion planned for March 2025, including provisions for existing tenant's rights as the property is currently leased until completion date.

Document background
The For Sale By Owner Property Contract is designed for use in Hong Kong when property owners wish to sell their property directly to buyers without engaging real estate agents. This approach can result in cost savings but requires a carefully drafted agreement that complies with Hong Kong's legal requirements. The document serves as a legally binding agreement that protects both parties' interests by clearly stating all terms and conditions of the sale, including property details, price, payment schedule, completion requirements, and warranties. It must comply with the Conveyancing and Property Ordinance (Cap. 219) and other relevant Hong Kong property laws. The contract is particularly useful for private property owners who are familiar with the property market and comfortable handling direct negotiations, while ensuring all legal requirements for property transfer in Hong Kong are met.
Suggested Sections

1. Parties: Identification and details of the Vendor and Purchaser, including full legal names, identification numbers, and correspondence addresses

2. Background: Brief context of the sale, including property ownership status and intention to sell/purchase

3. Definitions: Key terms used throughout the agreement, including 'Property', 'Completion Date', 'Purchase Price', etc.

4. Property Details: Comprehensive description of the property, including address, lot number, registration particulars, and floor area

5. Sale and Purchase Agreement: Core agreement to sell and purchase the property at the specified price

6. Purchase Price: Agreed purchase price, payment schedule, and deposit arrangements

7. Payment Terms: Detailed payment structure, including initial deposit, further deposit, and balance payment arrangements

8. Completion: Completion date, procedures, and requirements for completing the sale

9. Vendor's Representations and Warranties: Vendor's declarations regarding property ownership, encumbrances, and condition

10. Property Condition: Current condition of the property and any agreed repairs or modifications

11. Title and Documentation: Requirements for proving good title and delivering necessary documentation

12. Stamp Duty: Arrangements for payment of stamp duty and other applicable taxes

13. Default and Remedies: Consequences and remedies in case of default by either party

14. Miscellaneous: Standard provisions including notices, entire agreement, governing law, etc.

Optional Sections

1. Existing Tenancy: Details of any existing tenancy arrangements and handling of rental deposits (include if property is currently tenanted)

2. Furniture and Fittings: List of items included/excluded in the sale (include if selling with furniture/fittings)

3. Renovation Agreement: Specific agreements about renovations to be completed before completion (include if renovations are part of the deal)

4. Car Parking Space: Details of any car parking space included in the sale (include if parking is part of the transaction)

5. Mortgage Arrangements: Details of existing mortgage and arrangements for discharge (include if property is mortgaged)

6. Pre-existing Damage: Documentation of any pre-existing damage and repair agreements (include if relevant)

7. Special Conditions: Any unique terms specific to this transaction (include if special circumstances exist)

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property information including floor plans, boundaries, and registered particulars

2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments and timing

3. Schedule 3 - Inventory List: Comprehensive list of furniture, fittings, and other items included in the sale

4. Schedule 4 - Title Documents: List of title documents to be delivered upon completion

5. Appendix A - Property Floor Plan: Official floor plan showing property layout and dimensions

6. Appendix B - Property Photographs: Dated photographs documenting property condition at time of contract

7. Appendix C - Land Search Documents: Recent land search results showing title and encumbrances

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions
































Clauses






























Relevant Industries

Real Estate

Property Development

Banking and Finance

Legal Services

Construction

Property Management

Insurance

Private Housing

Commercial Property

Residential Property

Relevant Teams

Legal

Real Estate

Property Management

Finance

Compliance

Risk Management

Administrative Services

Corporate Services

Investment

Operations

Relevant Roles

Property Owner

Home Buyer

Property Lawyer

Conveyancing Lawyer

Legal Counsel

Bank Manager

Mortgage Specialist

Property Manager

Company Director

Chief Financial Officer

Real Estate Investment Manager

Property Portfolio Manager

Legal Administrator

Compliance Officer

Risk Manager

Industries









Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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