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Apartment Sales Contract Template for Hong Kong

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Key Requirements PROMPT example:

Apartment Sales Contract

"I need an Apartment Sales Contract for a Hong Kong property purchase with a completion date of March 15, 2025, with standard payment terms including a 5% initial deposit and 95% balance at completion."

Document background
The Apartment Sales Contract is a fundamental legal document used in Hong Kong real estate transactions for the transfer of residential property ownership. This contract type is essential for documenting the legal agreement between a vendor and purchaser, incorporating specific requirements under Hong Kong's property law regime. It includes crucial details such as property specifications, payment terms, completion arrangements, and statutory declarations. The document must comply with Hong Kong's Conveyancing and Property Ordinance, Land Registration Ordinance, and Stamp Duty Ordinance, among others. Typically used in both first-hand and secondary market transactions, the Apartment Sales Contract serves as the primary instrument for protecting parties' interests and ensuring a smooth property transfer process in Hong Kong's dynamic real estate market.
Suggested Sections

1. Parties: Identification and details of the Vendor and Purchaser, including ID/BR numbers and addresses

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

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

4. Property Details: Comprehensive description of the property including address, floor area, and government lease details

5. Purchase Price: Statement of the purchase price and payment schedule

6. Payment Terms: Detailed payment structure including deposits and completion payment

7. Completion: Completion date, procedures, and requirements for completion

8. Title and Documents: Vendor's obligations regarding good title and delivery of necessary documents

9. Representations and Warranties: Standard warranties by both parties, especially regarding property condition and ownership

10. Stamp Duty: Responsibilities for payment of various applicable stamp duties

11. Costs and Expenses: Allocation of legal costs and other expenses

12. Default Provisions: Consequences of default by either party

13. Notices: Method and addresses for serving notices

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

Optional Sections

1. Existing Tenancy: Required if the property is sold subject to an existing tenancy

2. Mortgage Status: Required if the property is being sold subject to an existing mortgage

3. Renovation Condition: Include when specific renovation works are to be completed before completion

4. Car Parking Space: Required if a parking space is included in the sale

5. Commission Payment: Include if there are estate agent commission arrangements to be documented

6. Special Payment Terms: Include for non-standard payment arrangements or stagei payments

7. Furniture and Fittings: Required if specific furniture or fittings are included in the sale

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property information including floor plan and specifications

2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments and timing

3. Schedule 3 - Title Documents: List of title documents to be delivered on completion

4. Schedule 4 - Inventory: List of furniture and fittings included in the sale (if applicable)

5. Appendix A - Floor Plan: Official floor plan of the property

6. Appendix B - Land Search: Recent land search showing current ownership and encumbrances

7. Appendix C - Decoration and Fittings: Details of any agreed renovation works or retained fittings

8. Appendix D - Prescribed Forms: Standard forms required under Hong Kong law for property transactions

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈ˰æ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions


































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Relevant Industries

Real Estate

Legal Services

Financial Services

Property Development

Property Management

Professional Services

Banking

Residential Property

Relevant Teams

Legal

Real Estate

Property Management

Compliance

Sales

Operations

Risk Management

Corporate Secretarial

Investment

Document Management

Relevant Roles

Real Estate Lawyer

Property Manager

Estate Agent

Legal Counsel

Conveyancing Manager

Property Developer

Real Estate Director

Compliance Officer

Real Estate Transaction Manager

Contract Administrator

Property Sales Manager

Legal Director

Company Secretary

Real Estate Investment Manager

Risk Manager

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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