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Purchase Agreement For House
"I need a Purchase Agreement For House for a residential property in Jakarta, Indonesia, with a purchase price of 2.5 billion rupiah, where 20% will be paid as deposit on March 1, 2025, and the remaining 80% will be paid upon completion on May 15, 2025."
1. Parties: Identification of the Seller and Buyer with complete legal names, addresses, and identification numbers as required by Indonesian law
2. Background: Context of the sale and brief description of the property being transferred
3. Definitions: Definitions of key terms used throughout the agreement, including technical and legal terms
4. Property Details: Comprehensive description of the property including land certificate number, address, boundaries, and building specifications
5. Purchase Price: Agreed purchase price, payment terms, and schedule of payments including deposit arrangements
6. Payment Method: Specified method of payment, bank account details, and currency specifications
7. Conditions Precedent: Conditions that must be satisfied before the agreement becomes fully effective
8. Seller's Representations and Warranties: Seller's declarations regarding property ownership, condition, and legal status
9. Buyer's Representations and Warranties: Buyer's declarations regarding legal capacity and financial ability to purchase
10. Completion Requirements: Steps required for completion of the sale, including documentation and registration requirements
11. Title Transfer: Process and requirements for legal transfer of title under Indonesian law
12. Taxes and Costs: Allocation of responsibility for transfer taxes, notary fees, and other associated costs
13. Default and Remedies: Consequences of breach and available remedies for both parties
14. Governing Law and Dispute Resolution: Specification of Indonesian law as governing law and dispute resolution mechanisms
15. Notices: Method and addresses for formal communications between parties
16. Execution: Signing requirements and formal execution provisions
1. Broker/Agent Provisions: Include when a real estate agent or broker is involved in the transaction
2. Mortgage Contingency: Include when the purchase is contingent on the buyer obtaining mortgage financing
3. Property Inspection: Include when there are specific inspection requirements or contingencies
4. Vacant Possession: Include when the property is currently occupied and timing of vacancy needs to be specified
5. Fixtures and Fittings: Include when specific items are included or excluded from the sale
6. Foreign Ownership Provisions: Include when the buyer is a foreign national, addressing specific requirements under Indonesian law
7. Language Provisions: Include when the agreement is bilingual, specifying which language version prevails
8. Insurance: Include when specific insurance requirements need to be maintained during the transfer period
9. Environmental Provisions: Include when there are environmental concerns or requirements to address
1. Property Description Schedule: Detailed technical description of the property including measurements and boundaries
2. Land Certificate Details: Copy or details of the land certificate and ownership history
3. Payment Schedule: Detailed breakdown of payment installments and timing
4. Fixtures and Fittings List: Inventory of items included in or excluded from the sale
5. Property Condition Report: Current condition of the property and any noted defects
6. Required Permits and Certificates: List of all required permits and certificates for the property
7. Outstanding Taxes and Utilities: Statement of any outstanding taxes or utility payments
8. Power of Attorney: If required for completion of the transfer process
9. Building Plans and Specifications: Official building plans and technical specifications
Authors
Real Estate
Residential Property
Property Development
Legal Services
Banking and Finance
Insurance
Construction
Property Management
Professional Services
Housing Development
Legal
Real Estate
Property Management
Compliance
Sales
Customer Relations
Finance
Risk Management
Operations
Business Development
Administrative Support
Investment
Real Estate Agent
Property Lawyer
Legal Counsel
Property Developer
Real Estate Manager
Notary Public
Property Consultant
Banking Officer
Mortgage Specialist
Property Valuer
Compliance Officer
Real Estate Broker
Housing Development Manager
Property Administrator
Legal Director
Real Estate Investment Manager
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