The Real Estate Offer Contract is a crucial preliminary document in Hong Kong property transactions, serving as the first formal step in the property acquisition process. It is typically used when a potential buyer has identified a property of interest and wishes to formalize their purchase intention. The document must comply with Hong Kong's property laws and regulations, particularly the Conveyancing and Property Ordinance and the Land Registration Ordinance. It contains essential information such as property details, purchase price, payment terms, completion arrangements, and any conditions that must be met before the sale can proceed. This document is particularly important in Hong Kong's fast-moving property market, where multiple offers may be made on the same property, and a formal written offer helps secure the purchaser's position. While not binding until accepted, it forms the basis for the subsequent formal Agreement for Sale and Purchase.
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1. Parties: Identification of the buyer (offeror) and seller (offeree), including full legal names, identification numbers, and contact details
2. Background: Brief context of the transaction and purpose of the offer
3. Definitions: Key terms used throughout the contract, including Property, Completion Date, Purchase Price, etc.
4. Property Details: Full legal description of the property, including address, lot number, and registered details
5. Purchase Price: The offered purchase price, payment terms, and deposit arrangements
6. Payment Terms: Schedule of payments, including initial deposit, further deposit, and balance payment details
7. Completion: Proposed completion date and completion arrangements
8. Due Diligence: Buyer's right to conduct property investigations and title searches
9. Conditions Precedent: Conditions that must be satisfied before the contract becomes binding
10. Seller's Warranties: Basic warranties regarding property ownership and condition
11. Stamp Duty: Responsibilities for payment of stamp duty and other transaction taxes
12. Costs: Allocation of legal and other transaction costs
13. Termination: Circumstances under which the offer can be withdrawn or contract terminated
14. Execution: Signature blocks and execution requirements
1. Existing Tenancies: Details of any existing tenancies affecting the property - include when property is sold with sitting tenants
2. Furniture and Fittings: List of movable items included in the sale - include when selling furnished
3. Mortgage Clause: Conditions relating to buyer's mortgage financing - include when purchase is subject to mortgage approval
4. Chain Sale Clause: Conditions linking this transaction to the sale of another property - include in chain transactions
5. Building Orders: Details of any outstanding building orders - include when property has pending works orders
6. Property Management: Details of management fees and special fund contributions - include for properties in managed buildings
7. Car Parking Space: Details of any parking space included in the sale - include when parking is part of transaction
8. Defects Liability: Special provisions for defect resolution - include for new properties
1. Schedule 1 - Property Details: Detailed property description, including floor plans and area measurements
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments and timing
3. Schedule 3 - Inventory List: Comprehensive list of furniture and fittings included in the sale
4. Schedule 4 - Title Documents: List of relevant title documents and encumbrances
5. Appendix A - Property Photographs: Recent photographs of the property's current condition
6. Appendix B - Floor Plan: Detailed floor plan showing property layout and dimensions
7. Appendix C - Land Search: Recent land search results showing current ownership and encumbrances
8. Appendix D - Due Diligence Checklist: Checklist of required property investigations and searches
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