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The Residential Real Estate Purchase Agreement is a crucial legal document used in Indonesia for formalizing the sale and purchase of residential properties. It serves as the primary contract between sellers and buyers, whether they are individuals or companies, and must comply with Indonesian property law, particularly the Basic Agrarian Law (Undang-Undang Pokok Agraria) and related regulations. This agreement is essential for any residential property transaction in Indonesia, including houses, apartments, and land intended for residential development. It covers all necessary aspects of the property transfer, from initial deposit to final handover, and must be executed before a licensed land deed official (PPAT). The document includes provisions for payment terms, property specifications, legal requirements for ownership transfer, tax obligations, and dispute resolution mechanisms, all tailored to meet Indonesian legal requirements and protect the interests of all parties involved.

1. Parties: Identification of the seller and buyer, including their complete legal names, addresses, and identification numbers as required under Indonesian law

2. Background: Context of the transaction, including brief description of the property and the parties' intention to enter into a sale and purchase transaction

3. Definitions: Definitions of key terms used throughout the agreement, including technical and legal terms specific to Indonesian property law

4. Property Details: Comprehensive description of the property, including land certificate details, building specifications, and exact location

5. Purchase Price: The agreed purchase price, payment terms, deposit requirements, and payment schedule

6. Payment Method: Specified methods of payment, including bank transfer details and requirements for proof of payment

7. Conditions Precedent: Conditions that must be satisfied before the sale can proceed, including property checks and necessary permits

8. Due Diligence: Buyer's right to conduct property inspections and verify legal status of the property

9. Representations and Warranties: Seller's declarations regarding property ownership, absence of disputes, and property condition

10. Transfer of Title: Process and requirements for legal transfer of property ownership under Indonesian law

11. Taxes and Costs: Allocation of transaction costs, including transfer tax, notary fees, and other applicable taxes

12. Default and Termination: Consequences of breach and circumstances under which the agreement may be terminated

13. Handover: Process and timing for physical handover of the property

14. Governing Law: Specification of Indonesian law as governing law and relevant jurisdiction

15. Dispute Resolution: Process for resolving disputes, including mediation and court proceedings

16. Notices: How formal communications between parties should be made and delivered

17. Execution: Signing requirements and formal execution provisions