Real Estate Buy And Sell Agreement Template for Hong Kong

The Real Estate Buy And Sell Agreement is a fundamental legal document used in Hong Kong property transactions to formalize the transfer of real estate between parties. It is essential for both residential and commercial property transactions in Hong Kong, incorporating requirements under the Conveyancing and Property Ordinance, Land Registration Ordinance, and Stamp Duty Ordinance. This document is typically prepared after the preliminary agreement for sale and purchase and contains detailed terms covering property specifications, payment arrangements, completion procedures, and parties' obligations. It must comply with Hong Kong's strict property law requirements and include provisions for various stamp duties unique to the jurisdiction. The agreement serves as the primary document for property transfer registration with the Hong Kong Land Registry and is crucial for protecting both parties' interests throughout the transaction.

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

2. Background: Context of the transaction, including brief property history and purpose of the agreement

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

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

5. Purchase Price: Agreed purchase price, payment structure, and deposit arrangements

6. Payment Terms: Detailed payment schedule, method of payment, and handling of deposits

7. Completion: Completion date, procedures, and requirements for completion of the sale

8. Title and Transfer: Vendor's warranties regarding title, procedures for title transfer, and registration requirements

9. Vendor's Representations and Warranties: Warranties regarding property condition, ownership, encumbrances, and compliance with laws

10. Purchaser's Representations and Warranties: Purchaser's confirmations regarding financial capacity and compliance requirements

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

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

15. Notices: Process for giving notices under the agreement

16. Governing Law and Jurisdiction: Confirmation of Hong Kong law as governing law and jurisdiction