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Area Residential Purchase Contract
I need an Area Residential Purchase Contract for a Hong Kong apartment purchase closing on March 15, 2025, where the property will be sold with existing tenants and includes a parking space, so the contract needs to address tenant rights and parking space ownership transfer.
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
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Detailed description of the property including lot number, address, and registered details
5. Purchase Price: Statement of the purchase price and payment terms including deposit arrangements
6. Completion: Completion date, procedures, and requirements for completion
7. Title: Vendor's obligations regarding good title and purchaser's right to raise requisitions
8. Representations and Warranties: Vendor's warranties regarding the property and any encumbrances
9. Stamp Duty: Responsibilities for payment of various stamp duties
10. Risk and Insurance: Transfer of risk and insurance obligations
11. Default: Consequences of default by either party
12. Notices: Process for serving notices between parties
13. Governing Law: Confirmation of Hong Kong law as governing law and jurisdiction
1. Existing Tenancies: Details of any existing tenancies if property is sold subject to tenancies
2. Mortgage Requirements: Special conditions relating to purchaser's mortgage arrangements if applicable
3. Car Parking Space: Specific terms relating to any car parking space included in the sale
4. Furniture and Fittings: Lists and conditions if sale includes furniture or fittings
5. Building Management: Specific provisions relating to management fees and building management if property is in multi-unit building
6. Pre-existing Violations: Handling of any building code violations or unauthorized structures
7. Agent Commission: Commission arrangements if property agents are involved
1. Schedule 1 - Property Description: Detailed property description including boundaries and measurements
2. Schedule 2 - Purchase Price Payment Schedule: Breakdown of payment installments and timing
3. Schedule 3 - Inventory of Fixtures and Fittings: List of items included/excluded from the sale
4. Schedule 4 - Title Documents: List of title documents and encumbrances
5. Appendix A - Property Floor Plan: Floor plan showing layout and dimensions
6. Appendix B - Land Search Documents: Recent land search results showing title details
7. Appendix C - Completion Requirements: Checklist of documents required for completion
Authors
Real Estate
Legal Services
Banking & Finance
Property Management
Construction & Development
Insurance
Professional Services
Legal
Real Estate
Compliance
Property Management
Sales
Mortgage Services
Risk Management
Document Management
Client Relations
Property Development
Real Estate Lawyer
Property Conveyancer
Real Estate Agent
Property Manager
Mortgage Banker
Legal Counsel
Compliance Officer
Property Developer
Real Estate Investment Manager
Title Insurance Officer
Property Valuer
Real Estate Transaction Coordinator
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