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Purchase Agreement For Commercial Property
"I need a Purchase Agreement for Commercial Property in Hong Kong for acquiring a multi-tenant office building in Central district, with completion scheduled for March 2025; the agreement must include provisions for existing tenancies and property management arrangements."
1. Parties: Details of the vendor and purchaser, including full legal names, registration numbers for companies, and registered addresses
2. Background: Context of the transaction, including brief property description and transaction intent
3. Definitions: Definitions of key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the property at the specified price
5. Purchase Price: Detailed breakdown of the purchase price, payment schedule, and payment methods
6. Deposits: Terms regarding initial and further deposits, including stakeholding arrangements
7. Title: Vendor's warranty of good title and purchaser's right to investigate title
8. Completion: Completion date, requirements, and procedures
9. Vendor's Representations and Warranties: Standard warranties about property ownership, encumbrances, and compliance
10. Property Condition: Statement on property condition and acceptance basis
11. Risk and Insurance: Transfer of risk and insurance obligations
12. Default: Consequences of default by either party
13. Costs and Stamp Duty: Allocation of transaction costs and stamp duty obligations
14. Notices: Process for serving notices between parties
15. Governing Law and Jurisdiction: Confirmation of Hong Kong law and jurisdiction
1. Existing Tenancies: Required when the property is sold subject to existing tenancies, detailing tenant rights and obligations
2. Property Management: Needed for properties in managed buildings, covering management fees and obligations
3. Value Added Tax/GST: Required if the transaction is subject to any tax regulations beyond standard stamp duty
4. Environmental Matters: Important for industrial properties or properties with potential environmental issues
5. Planning and Development: Relevant when there are ongoing or pending planning applications or development rights
6. Intellectual Property Rights: Required when the sale includes trading names, logos, or other IP associated with the property
7. Employee Matters: Needed when the sale includes transfer of property-related employees
8. Post-Completion Obligations: Required when parties have continuing obligations after completion
1. Schedule 1 - Property Description: Detailed description of the property including lot number, floor area, and boundaries
2. Schedule 2 - Title Documents: List of title documents and encumbrances
3. Schedule 3 - Fixtures and Fittings: Inventory of included and excluded fixtures and fittings
4. Schedule 4 - Current Tenancies: Details of existing tenancy agreements if applicable
5. Schedule 5 - Property Management Details: Management fees, sinking fund contributions, and related obligations
6. Schedule 6 - Completion Requirements: Detailed list of documents required for completion
7. Appendix A - Property Plans: Floor plans, location maps, and other relevant drawings
8. Appendix B - Property Photographs: Current photographs of the property and key features
9. Appendix C - Building Inspection Report: Technical survey or inspection report if commissioned
Authors
Bank
Building
Business Day
Completion
Completion Date
Conditions Precedent
Consideration
Deposit
Encumbrances
Further Deposit
Government
Government Lease
Government Rent
Initial Deposit
Land Registry
Management Company
Management Fees
Occupation Permit
Property
Purchase Price
Purchaser
Purchaser's Solicitors
Rates
Related Documents
Stakeholder
Stamp Duty
Title Documents
Transaction Documents
Transfer Documents
Vacant Possession
Vendor
Vendor's Solicitors
Working Day
DMC (Deed of Mutual Covenant)
Existing Tenancies
Fixtures and Fittings
Interest Rate
Material Damage
Permitted Occupiers
Requisitions
Special Conditions
Substantial Damage
Terms of Sale
Purchase Price
Deposit
Title
Representations and Warranties
Conditions Precedent
Completion
Property Condition
Vacant Possession
Risk and Insurance
Default
Termination
Assignment
Property Management
Encumbrances
Requisitions
Costs and Stamp Duty
Confidentiality
Force Majeure
Notices
Entire Agreement
Severability
Waiver
Amendment
Further Assurance
Time of Essence
Joint and Several Liability
Successors and Assigns
Third Party Rights
Governing Law
Jurisdiction
Counterparts
Good Title
Environmental Compliance
Planning and Zoning
Existing Tenancies
Property Inspection
Due Diligence
Anti-Money Laundering
Indemnification
Real Estate
Banking & Finance
Retail
Manufacturing
Professional Services
Healthcare
Technology
Hospitality
Education
Logistics & Warehousing
Construction & Development
Industrial
Legal
Finance
Real Estate
Operations
Facilities Management
Risk & Compliance
Property Management
Corporate Development
Investment
Asset Management
Chief Executive Officer
Chief Financial Officer
Real Estate Director
Property Manager
Legal Counsel
Commercial Director
Facilities Manager
Investment Manager
Asset Manager
Development Director
Operations Director
Company Secretary
Finance Manager
Risk Manager
Compliance Officer
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