Simple For Sale By Owner Contract Template for Hong Kong

The Simple For Sale By Owner Contract is specifically designed for property transactions in Hong Kong where owners wish to sell their property directly to buyers without full agent intervention. This document type emerged from the need for a straightforward yet legally compliant agreement that covers all essential aspects of a property sale while remaining accessible to non-legal professionals. It includes mandatory provisions required by Hong Kong law, such as proper party identification, property details, payment terms, and completion requirements. The contract ensures compliance with the Conveyancing and Property Ordinance (Cap. 219) and other relevant Hong Kong legislation while maintaining simplicity and clarity. It's particularly useful for straightforward property transactions where the parties wish to minimize third-party involvement while maintaining legal protection.

1. Parties: Identification and details of the Vendor and Purchaser

2. Background: Brief context of the sale and confirmation of Vendor's ownership

3. Definitions: Key terms used throughout the agreement

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

5. Purchase Price: Agreed purchase price and payment terms including deposits and completion payment

6. Completion: Date, time, and location of completion and property handover

7. Title and Documentation: Vendor's obligations regarding proof of title and required documentation

8. Vendor's Representations and Warranties: Standard warranties about property ownership, condition, and encumbrances

9. Purchaser's Representations and Warranties: Confirmations regarding purchaser's ability to complete the transaction

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

11. Default and Termination: Consequences of breach and termination rights

12. Costs and Stamp Duty: Allocation of transaction costs and stamp duty obligations

13. Notices: How formal communications between parties should be made

14. Governing Law: Confirmation of Hong Kong law governing the agreement