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For Sale By Owner Sales Contract Template for Indonesia

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Key Requirements PROMPT example:

For Sale By Owner Sales Contract

"I need a For Sale By Owner Sales Contract for selling my three-bedroom house in Jakarta, Indonesia, with a planned completion date of March 15, 2025, including provisions for a 20% initial deposit and monthly installment payments over 12 months."

What is a For Sale By Owner Sales Contract?

The For Sale By Owner Sales Contract is a crucial legal document used in Indonesia when property owners choose to sell their property directly to buyers without real estate agent intermediaries. This approach has become increasingly popular in Indonesia's property market as it can reduce transaction costs while maintaining legal compliance. The document must strictly adhere to Indonesian property law requirements, including the Basic Agrarian Law (UU No. 5/1960), land registration regulations, and local property transaction rules. It serves as a comprehensive agreement that protects both parties' interests while ensuring the transaction meets all legal requirements for property transfer in Indonesia. The contract typically includes detailed property descriptions, payment terms, warranties, and specific provisions required by Indonesian law for property registration and transfer of title.

What sections should be included in a For Sale By Owner Sales Contract?

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

2. Background: Context of the sale, including brief property history and current ownership status

3. Definitions: Key terms used throughout the agreement, including property-specific terminology and legal terms

4. Property Description: Detailed description of the property including address, certificate number, land area, building area, and boundaries as per land certificate

5. Purchase Price: Agreed purchase price, payment terms, and schedule of payments including deposit arrangements

6. Payment Method: Specified method of payment, including bank transfer details or other accepted payment methods

7. Transfer of Title: Process and requirements for legal transfer of property ownership

8. Seller's Representations and Warranties: Seller's guarantees regarding property ownership, condition, and legal status

9. Buyer's Representations and Warranties: Buyer's guarantees regarding financial capacity and compliance with purchase terms

10. Closing Requirements: Conditions that must be met before finalizing the sale

11. Costs and Taxes: Allocation of transaction costs, taxes, and fees between parties

12. Default and Remedies: Consequences and remedies in case either party fails to fulfill obligations

13. Governing Law: Specification of Indonesian law as governing law and relevant jurisdictions

14. Signatures: Formal execution section including spaces for parties' signatures and witnesses

What sections are optional to include in a For Sale By Owner Sales Contract?

1. Property Inspection: Details of property inspection process and findings, used when buyer has conducted pre-purchase inspection

2. Financing Contingency: Conditions related to buyer's financing arrangements, included when purchase depends on mortgage approval

3. Tenant Provisions: Terms regarding existing tenants and lease agreements, included if property is currently tenanted

4. Furniture and Fixtures: List of included/excluded items, used when sale includes or specifically excludes certain items

5. Construction Warranty: Details of remaining construction warranties, included for relatively new properties

6. Environmental Conditions: Disclosures about environmental issues, included if property has known environmental concerns

7. Power of Attorney: Authorization details if either party is represented by an agent, included when relevant

What schedules should be included in a For Sale By Owner Sales Contract?

1. Property Title Documents: Copies of land certificate and other ownership documents

2. Property Tax Records: Recent property tax payments and outstanding amounts

3. Property Photographs: Current photographs documenting property condition

4. Inventory List: Detailed list of included furniture and fixtures, if applicable

5. Payment Schedule: Detailed schedule of payment installments if not single payment

6. Property Plans: Official property/land plans and building permits

7. Utility Documents: Current utility contracts and recent bills

Authors

Alex Denne

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

Relevant legal definitions












































Clauses



































Relevant Industries

Real Estate

Property Development

Construction

Banking and Finance

Legal Services

Property Management

Urban Development

Residential Housing

Commercial Property

Land Development

Relevant Teams

Legal

Real Estate

Property Management

Corporate Services

Facilities Management

Risk Management

Documentation

Compliance

Finance

Asset Management

Relevant Roles

Property Owner

Real Estate Lawyer

Legal Counsel

Property Manager

Notary Public

Land Registration Officer

Tax Consultant

Bank Manager

Property Developer

Corporate Real Estate Manager

Facilities Manager

Legal Documentation Specialist

Property Investment Manager

Asset Manager

Industries







Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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