Real Estate Buy Sell Agreement Template for Hong Kong

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Key Requirements PROMPT example:

Real Estate Buy Sell Agreement

"I need a Real Estate Buy Sell Agreement for a luxury residential property in Hong Kong's Peak district, including provisions for existing high-value fixtures and fittings, with completion scheduled for March 2025 and special conditions for the included art installations and smart home systems."

Document background
The Real Estate Buy Sell Agreement is a fundamental legal document used in Hong Kong property transactions to formalize the sale and purchase of real estate properties. It is essential for both residential and commercial property transactions in Hong Kong, incorporating specific requirements under Hong Kong law, including compliance with the Conveyancing and Property Ordinance, Stamp Duty Ordinance, and Land Registration Ordinance. This document is typically prepared after preliminary terms are agreed upon through a Provisional Agreement for Sale and Purchase, but before the completion of the transaction. It contains detailed provisions covering property description, purchase price, payment schedule, completion arrangements, warranties, and specific Hong Kong regulatory requirements. The agreement serves as the definitive contract between parties and must comply with Hong Kong's stringent property transaction regulations and requirements.
Suggested Sections

1. Parties: Identification of the Vendor and Purchaser with full legal names and addresses

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

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: Agreed purchase price and payment structure including initial deposit, further deposit, and balance payment

6. Payment Terms: Detailed payment schedule, method of payment, and consequences of default

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

8. Vendor's Representations and Warranties: Warranties regarding property title, ownership, and condition

9. Property Inspection: Purchaser's right to inspect the property and acknowledgment of its condition

10. Title and Documents: Requirements for proving good title and delivering necessary documents

11. Stamp Duty: Obligations regarding payment of various applicable stamp duties

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

13. Risk and Insurance: Transfer of risk and insurance responsibilities

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

15. Notices: Process for serving notices between parties

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

Optional Sections

1. Existing Tenancies: Required when the property is sold subject to existing tenancies, detailing tenant rights and rental arrangements

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

3. Property Management: Required for properties in multi-story buildings, addressing management fees and obligations

4. Car Parking Space: Required when the sale includes parking space(s)

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

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

7. Building Orders: Required when there are outstanding building orders or notices

8. Taxation Matters: Required for special tax considerations, particularly for non-resident parties

Suggested Schedules

1. Schedule 1 - Property Description: Detailed description of the property including boundaries, floor area, and facilities

2. Schedule 2 - Purchase Price Breakdown: Itemized breakdown of the purchase price and payment schedule

3. Schedule 3 - Included Fixtures and Fittings: List of fixtures and fittings included in the sale

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

5. Schedule 5 - Existing Tenancy Details: Details of any existing tenancy agreements (if applicable)

6. Appendix A - Property Floor Plan: Floor plan of the property

7. Appendix B - Recent Land Search: Copy of recent land search results

8. Appendix C - Completion Checklist: Checklist of items required for completion

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 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

Legal Services

Banking & Finance

Property Development

Property Management

Construction

Professional Services

Residential Property

Commercial Property

Investment

Relevant Teams

Legal

Real Estate

Property Management

Sales

Compliance

Operations

Investment

Corporate

Conveyancing

Due Diligence

Relevant Roles

Real Estate Lawyer

Property Lawyer

Conveyancing Solicitor

Real Estate Agent

Property Agent

Real Estate Manager

Property Developer

Investment Manager

Legal Counsel

Compliance Officer

Real Estate Investment Manager

Property Transaction Manager

Real Estate Director

Property Sales Manager

Legal Director

Real Estate Partner

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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