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Real Estate Contract
"I need a Real Estate Contract for the purchase of a commercial office building in Jakarta's Central Business District, where the buyer is a Singapore-based company planning to complete the transaction by March 2025, requiring specific provisions for foreign ownership and multi-floor property rights."
1. Parties: Details of the seller and buyer, including complete legal names, ID numbers (KTP/passport), addresses, and citizenship status
2. Background: Context of the transaction, including brief property history and purpose of the sale
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property, including certificate number, land area, building specifications, and boundaries
5. Purchase Price: Agreed purchase price, payment terms, and schedule of payments
6. Payment Method: Detailed description of payment mechanisms and bank account details
7. Transfer of Title: Process and timeline for legal transfer of property ownership
8. Representations and Warranties: Seller's warranties regarding property ownership, encumbrances, and condition
9. Rights and Obligations: Specific responsibilities of both parties before, during, and after the transaction
10. Taxes and Costs: Allocation of transaction taxes, notary fees, and other costs
11. Handover Process: Timeline and conditions for physical property handover
12. Default and Remedies: Consequences of breach and available remedies
13. Governing Law: Confirmation of Indonesian law application and jurisdiction
14. Dispute Resolution: Process for resolving disputes, including choice of forum
15. Notices: Method and addresses for official communications
16. Execution: Signature requirements and execution process
1. Mortgage Provisions: Required when the purchase involves bank financing or mortgage arrangements
2. Foreign Ownership Compliance: Necessary when the buyer is a foreign national, detailing compliance with Government Regulation No. 103 of 2015
3. Property Management: Required for apartments or properties within managed complexes
4. Broker Provisions: Include when real estate agents or brokers are involved in the transaction
5. Condition Precedents: Special conditions that must be met before completion
6. Due Diligence Period: When buyer requires time for property investigation
7. Strata Title Provisions: For apartment or condominium purchases
8. Development Obligations: When property includes undeveloped land or requires construction
9. Environmental Compliance: For properties requiring environmental permits or assessments
1. Property Certificate Details: Copy and details of land certificate, building permits, and ownership history
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Property Specifications: Detailed technical specifications, floor plans, and building details
4. Due Diligence Results: Reports from property inspections and legal verification
5. Tax Certificates: Property tax payment proof and tax registration details
6. Permits and Licenses: Copies of relevant permits, licenses, and certificates
7. Site Plan: Official site plan showing property boundaries and location
8. Inventory List: List of fixtures, fittings, and other items included in the sale
9. Power of Attorney: If applicable, power of attorney documents for representatives
10. Previous Agreements: Relevant prior agreements affecting the property
Authors
Real Estate
Property Development
Construction
Banking & Finance
Legal Services
Property Management
Hospitality
Retail
Commercial Property
Residential Property
Legal
Real Estate
Property Management
Compliance
Sales
Business Development
Facilities
Risk Management
Corporate Services
Operations
Real Estate Lawyer
Property Manager
Real Estate Agent
Legal Counsel
Compliance Officer
Property Developer
Land Acquisition Manager
Real Estate Investment Manager
Property Sales Manager
Contract Administrator
Facilities Manager
Corporate Real Estate Manager
Property Rights Specialist
Real Estate Transaction Coordinator
Legal Document Specialist
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