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Real Estate Agreement Contract

Real Estate Agreement Contract Template for Hong Kong

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Key Requirements PROMPT example:

Real Estate Agreement Contract

"I need a Real Estate Agreement Contract for the purchase of a residential apartment in Hong Kong's Mid-Levels area, with completion scheduled for March 2025, including provisions for existing tenancies and furniture transfer."

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Document background
The Real Estate Agreement Contract is a fundamental legal document used in Hong Kong property transactions to formalize the sale and purchase of real estate. It serves as the primary agreement between vendors and purchasers, incorporating essential elements required under Hong Kong's property law system, which combines common law principles with specific local regulations. This document is crucial for both residential and commercial property transactions, ensuring compliance with the Conveyancing and Property Ordinance, Stamp Duty Ordinance, and other relevant Hong Kong legislation. It includes comprehensive details about the property, parties involved, financial terms, completion requirements, and various warranties and representations, while also addressing specific Hong Kong requirements such as stamp duty obligations and land registration procedures.
Suggested Sections

1. Parties: Identification and details of the vendor and purchaser, including Hong Kong ID/BR numbers

2. Background: Context of the transaction and brief description of the property

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Comprehensive description of the property including lot number, address, and registered details

5. Purchase Price: Agreement on purchase price, payment schedule, and deposit arrangements

6. Completion: Completion date, procedures, and requirements for closing the transaction

7. Title and Ownership: Vendor's warranties regarding title, ownership, and encumbrances

8. Conditions Precedent: Conditions that must be satisfied before completion

9. Representations and Warranties: Standard representations and warranties from both parties

10. Stamp Duty: Obligations regarding payment of various stamp duties

11. Costs and Expenses: Allocation of legal costs, registration fees, and other expenses

12. Default and Termination: Consequences of default and termination rights

13. Notices: Process for serving notices between parties

14. Governing Law and Jurisdiction: Confirmation of Hong Kong law and jurisdiction

15. Execution: Signature blocks and execution formalities

Optional Sections

1. Existing Tenancies: Required when the property is sold subject to existing tenancies

2. Mortgage Status: Required when the property has an existing mortgage to be discharged

3. Property Management: Required for properties in managed buildings or estates

4. Car Parking Space: Required when a parking space is included in the sale

5. Furniture and Fittings: Required when the sale includes furniture or fittings

6. Special Conditions: Required for any unique requirements or conditions specific to the transaction

7. Agent Commission: Required when the transaction involves property agents

8. Renovation Works: Required when there are ongoing or planned renovation works

9. Government Lease Conditions: Required when there are specific government lease conditions affecting the property

Suggested Schedules

1. Property Schedule: Detailed property information including lot number, floor area, and building plans

2. Payment Schedule: Detailed breakdown of payment terms and installments

3. Inventory List: List of furniture and fittings included in the sale

4. Title Documents: List of title documents and their copies

5. Existing Tenancy Schedule: Details of any existing tenancy agreements

6. Deed of Mutual Covenant: Building management rules and regulations

7. Property Inspection Report: Results of property inspection and condition assessment

8. Outstanding Management Fees: Statement of outstanding management fees and other charges

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions




































Clauses































Relevant Industries

Real Estate

Legal Services

Banking and Finance

Property Development

Property Management

Construction

Investment

Professional Services

Relevant Teams

Legal

Real Estate

Compliance

Property Management

Investment

Operations

Risk Management

Corporate Services

Contract Administration

Transaction Support

Relevant Roles

Real Estate Agent

Property Lawyer

Conveyancing Solicitor

Legal Counsel

Property Manager

Real Estate Director

Compliance Officer

Real Estate Investment Manager

Property Development Manager

Contract Administrator

Title Officer

Real Estate Analyst

Property Consultant

Transaction 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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