The Preliminary Sale and Purchase Agreement is a crucial document in Hong Kong property transactions that serves as the first formal step in the property transfer process. It is typically used immediately after parties reach a verbal agreement on the basic terms of the sale, but before the more detailed formal Agreement for Sale and Purchase is prepared by solicitors. This preliminary agreement, while shorter than the formal agreement, is legally binding and requires careful consideration as it triggers various legal and financial obligations, including stamp duty payments. The document must comply with Hong Kong property law requirements and typically includes essential information such as property details, purchase price, payment schedule, completion date, and basic terms and conditions. It is commonly used in both residential and commercial property transactions and forms the basis for the subsequent formal agreement.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
Your data doesn't train Genie's AI
You keep IP ownership of your docs
1. Parties: Identification and details of the Vendor and Purchaser, including Hong Kong ID/passport numbers and addresses
2. Background: Context of the transaction and confirmation that the Vendor is the legal owner of the property
3. Definitions: Key terms used throughout the agreement including 'Property', 'Completion Date', 'Purchase Price', and other relevant terms
4. Property Details: Full legal description of the property including address, lot number, and registered details
5. Purchase Price: Agreed purchase price and payment schedule, including initial deposit, further deposit, and balance payment details
6. Payment Terms: Detailed breakdown of payment structure, payment methods, and timing requirements
7. Completion: Completion date, time, and location, plus procedures for completion
8. Vendor's Representations and Warranties: Standard warranties about property ownership, encumbrances, and condition
9. Purchaser's Representations and Warranties: Confirmations regarding purchase capacity and financial ability
10. Stamp Duty: Responsibilities for various stamp duties including Ad Valorem Stamp Duty, Special Stamp Duty, and Buyer's Stamp Duty
11. Solicitors: Appointment and roles of solicitors for both parties
12. Default: Consequences of default by either party and remedies available
13. Notices: Method and addresses for serving notices between parties
14. Governing Law: Confirmation that the agreement is governed by Hong Kong law
1. Estate Agent: Details of the estate agent when the transaction involves an agent
2. Mortgage: Terms relating to existing mortgage (for Vendor) or new mortgage arrangements (for Purchaser)
3. Vacant Possession: Terms regarding delivery of vacant possession, used when property is currently occupied
4. Tenancy: Details of existing tenancy if property is sold subject to tenancy
5. Car Parking Space: Additional terms for including car parking space in the sale
6. Furniture and Fittings: List and terms for any furniture or fittings included in the sale
7. Special Conditions: Any unique terms specific to the transaction
8. Joint Ownership: Special terms for multiple purchasers or vendors
1. Schedule 1 - Property Details: Detailed property information including floor plans, measurements, and facilities
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment installments and due dates
3. Schedule 3 - Included Items: Inventory of fixtures, fittings, and furniture included in the sale
4. Schedule 4 - Existing Defects: List of known defects or maintenance issues
5. Appendix A - Property Ownership Documents: Copies of relevant title documents and land search
6. Appendix B - Floor Plan: Detailed floor plan of the property
7. Appendix C - Photographs: Photographs of the property and included items
Find the exact document you need
Common SLA
A Hong Kong law-governed agreement defining service performance standards, metrics, and remedies between service provider and customer.
Download
Restricted Letter Of Credit
A Hong Kong law-governed trade finance instrument that provides a bank's irrevocable payment commitment subject to specific restrictions and conditions, regulated under UCP 600.
Download
Stock Purchase And Sale Agreement
A Hong Kong law-governed agreement that documents the terms and conditions for the sale and purchase of shares between parties, including transaction details and regulatory compliance requirements.
Download
Preliminary Sale And Purchase Agreement
A binding preliminary agreement used in Hong Kong property transactions that establishes initial terms and conditions between vendor and purchaser.
Download
Share Purchase Agreement And Shareholders Agreement
A Hong Kong law-governed agreement combining share purchase terms and ongoing shareholder arrangements, regulating both the sale of shares and future shareholder relationships.
Download
Memorandum Of Understanding For Supply Of Goods
A preliminary framework document under Hong Kong law outlining the intended commercial relationship and key terms for a proposed supply of goods arrangement.
Download
Share Security Agreement
A Hong Kong law-governed agreement creating security over shares as collateral for financial obligations, typically used in lending transactions.
Download
Founder Shareholder Agreement
A Hong Kong law-governed agreement establishing rights, obligations, and relationships between company founders and defining core startup governance principles.
Download
Share Purchase Agreement
A Hong Kong law-governed agreement for the sale and purchase of shares in a company, setting out transaction terms, warranties, and completion requirements.
Download
Share Sale Agreement
A Hong Kong law-governed agreement documenting the terms and conditions for the sale and purchase of shares in a company, including price, warranties, and completion requirements.
Download
Share Acquisition Agreement
A Hong Kong law-governed agreement for the sale and purchase of shares in a company, detailing transaction terms, warranties, and completion requirements.
Download
Stock Sale Purchase Agreement
A Hong Kong law-governed agreement documenting the terms and conditions for the sale and purchase of shares in a company, including price, warranties, and completion requirements.
Download
ұԾ’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ұԾ’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)