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Residential Form Of Offer To Purchase
"I need a standard Residential Form of Offer to Purchase for a Hong Kong apartment purchase, with completion planned for March 2025 and including a mortgage contingency clause, as I'll be financing 50% of the purchase price through a bank loan."
1. Parties: Identification of the purchaser making the offer and the vendor to whom the offer is made, including full legal names and identification/company numbers
2. Background: Brief context of the transaction and purpose of the offer
3. Definitions: Key terms used throughout the document, including Property, Completion Date, Purchase Price, and other relevant terminology
4. Property Details: Complete legal description of the property, including address, lot number, and registered particulars
5. Purchase Price: The offered purchase price in HKD and payment terms, including initial deposit and payment schedule
6. Deposit Terms: Amount, payment method, and handling of the initial and further deposits
7. Due Diligence Period: Timeframe and conditions for property inspection, title review, and other investigations
8. Completion Requirements: Conditions and requirements for completing the purchase, including documentation and procedures
9. Representations and Warranties: Standard declarations about the property's condition and parties' capacity to enter into the transaction
10. Default and Remedies: Consequences and available remedies if either party fails to perform their obligations
11. Stamp Duty Declaration: Statements regarding stamp duty obligations and responsible parties
12. Governing Law: Confirmation that the offer is governed by Hong Kong law
13. Execution: Signature blocks and execution requirements
1. Existing Tenancies: Required when the property is subject to existing tenancy agreements that will continue after the sale
2. Mortgage Contingency: Include when the purchase is contingent on the buyer obtaining mortgage financing
3. Furniture and Fittings: Required when specific furniture or fittings are included in the sale
4. Property Management: Include for properties in managed buildings to address management fees and obligations
5. Car Parking Space: Required when a parking space is included in the sale
6. Renovation Works: Include when there are ongoing or planned renovation works affecting the property
7. Special Conditions: For any unique requirements or conditions specific to the transaction
8. Estate Agent Details: Required when the transaction involves estate agents
9. Provisional Agreement: Include when this offer is to be followed by a provisional sale and purchase agreement
1. Schedule 1 - Property Details: Detailed property information including floor plan, area measurements, and building specifications
2. Schedule 2 - Inventory: List of furniture, fittings, and equipment included in the sale
3. Schedule 3 - Payment Schedule: Detailed breakdown of payment terms and installments
4. Schedule 4 - Existing Defects: Documentation of any known defects or maintenance issues
5. Appendix A - Property Ownership Documents: Copies of relevant title documents and land registry records
6. Appendix B - Building Management Details: Information about management fees, maintenance funds, and building rules
7. Appendix C - Due Diligence Checklist: List of required inspections and investigations
8. Appendix D - Required Forms: Standard forms required by Hong Kong authorities for property transactions
Authors
Real Estate
Legal Services
Banking & Finance
Property Management
Insurance
Construction & Development
Professional Services
Residential Property
Legal
Real Estate Operations
Compliance
Property Management
Sales
Documentation
Risk Management
Corporate Services
Transactions
Client Relations
Real Estate Lawyer
Property Conveyancer
Estate Agent
Property Manager
Mortgage Advisor
Legal Secretary
Compliance Officer
Property Developer
Real Estate Transaction Manager
Property Investment Advisor
Legal Counsel
Contract Administrator
Real Estate Operations Manager
Documentation Specialist
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