Subscription Agreement (Real Estate)

Subscription Agreement (Real Estate) Template for Hong Kong

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Key Requirements PROMPT example:

"I need a Real Estate Subscription Agreement for a luxury residential development in Hong Kong's Mid-Levels area, where we're selling 50 units off-plan with completion expected in March 2025, including provisions for staged payments and defect liability periods."

Document background

The Real Estate Subscription Agreement is a crucial document in Hong Kong's property market, typically used for new development projects or pre-sale arrangements. This agreement type is specifically designed to comply with Hong Kong's property laws and regulations, including the Residential Properties (First-hand Sales) Ordinance. The Subscription Agreement (Real Estate) serves as the primary contract between the developer/vendor and the purchaser, detailing the property specifications, payment schedule, completion requirements, and various obligations of both parties. It must incorporate specific provisions required by Hong Kong law, including those relating to stamp duty, title requirements, and consumer protection. The document is particularly important in Hong Kong's active property market, where pre-sale of properties is common and regulatory compliance is strictly enforced.

Suggested Sections

1. Parties: Identification of all parties to the agreement, including the developer/vendor and subscriber/purchaser

2. Background: Context of the agreement, including brief description of the development and purpose of subscription

3. Definitions and Interpretation: Definitions of key terms and interpretation rules used throughout the agreement

4. Property Details: Detailed description of the property unit(s) being subscribed for

5. Subscription Terms: Core terms of the subscription, including price, payment schedule, and subscription period

6. Payment Terms: Detailed payment obligations, including deposits, installments, and final payment

7. Completion: Conditions and procedures for completion of the purchase

8. Representations and Warranties: Warranties given by both parties regarding their capacity and the property

9. Default and Termination: Consequences of default and circumstances allowing termination

10. Assignment and Transfer: Restrictions and conditions for transferring subscription rights

11. Notices: Methods and requirements for formal communications between parties

12. Governing Law and Jurisdiction: Specification of Hong Kong law as governing law and jurisdiction details

13. General Provisions: Standard boilerplate clauses including severability, entire agreement, etc.

Optional Sections

1. Mortgage Arrangements: Include when purchaser requires mortgage financing - details of arrangement and conditions

2. Property Management: Include for developments with shared facilities - management fees and obligations

3. Fitting Out Works: Include for properties delivered unfurnished - terms for conducting fitting out works

4. Car Parking Spaces: Include if car parking spaces are part of the subscription

5. Pre-completion Inspection: Include for off-plan properties - terms for inspection before completion

6. Defects Liability: Include for new properties - warranty period and defect rectification process

7. Sales Agency Arrangements: Include if property is purchased through an agent - commission and agency terms

Suggested Schedules

1. Property Schedule: Detailed description of property including floor plans, specifications, and fittings

2. Payment Schedule: Detailed breakdown of payment instalments and due dates

3. Title Documents: List of title documents and encumbrances affecting the property

4. Building Rules and Regulations: Rules governing the use and occupation of the property

5. Warranties Schedule: Detailed list of warranties provided by the developer

6. Completion Requirements: Checklist of documents and requirements for completion

7. Management Rules: Rules and regulations for property management and common areas

Authors

Alex Denne

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate

Property Development

Construction

Financial Services

Professional Services

Property Management

Banking

Legal Services

Relevant Teams

Legal

Compliance

Real Estate

Sales

Property Management

Finance

Risk Management

Project Management

Corporate Secretarial

Executive Management

Relevant Roles

Real Estate Director

Property Development Manager

Legal Counsel

Compliance Officer

Sales Director

Property Manager

Finance Manager

Contract Administrator

Project Manager

Risk Manager

Company Secretary

Managing Director

Chief Executive Officer

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