The New Home Purchase Agreement is a vital legal document used in Indonesian property transactions when purchasing newly constructed residential properties from developers or builders. This agreement is essential for documenting the terms and conditions of the property purchase, ensuring compliance with Indonesian property laws, including Law No. 1 of 2011 on Housing and Settlement Areas, Law No. 8 of 1999 on Consumer Protection, and the Basic Agrarian Law. It covers crucial aspects such as property specifications, payment terms, construction quality standards, completion timelines, and warranty provisions. The document is designed to protect both the developer's and buyer's interests while ensuring smooth property transfer and registration processes. It's particularly important in Indonesia's growing property market, where new residential developments are increasingly common and require careful legal documentation to ensure all parties' rights and obligations are clearly defined and protected.
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1. Parties: Identification of the seller/developer and buyer with complete legal details
2. Background: Context of the transaction, including property development details and parties' intentions
3. Definitions: Definitions of key terms used throughout the agreement
4. Property Details: Comprehensive description of the property including exact location, measurements, and specifications
5. Purchase Price: Total purchase price, payment schedule, and payment methods
6. Payment Terms: Detailed payment structure including deposits, installments, and final payment
7. Construction and Completion: Timeline for construction, completion date, and quality standards
8. Handover Process: Procedures for property inspection, defect identification, and formal handover
9. Warranties: Developer's warranties regarding property quality, construction, and legal status
10. Title and Ownership: Process of title transfer and ownership registration
11. Rights and Obligations: Detailed rights and obligations of both parties
12. Default and Remedies: Consequences of default by either party and available remedies
13. Force Majeure: Provisions for unforeseen circumstances affecting contract performance
14. Governing Law: Confirmation of Indonesian law as governing law and jurisdiction
15. Dispute Resolution: Process for resolving disputes between parties
16. Notices: Method and addresses for formal communications between parties
17. General Provisions: Standard boilerplate clauses including severability and entire agreement
1. Mortgage Provisions: Include when buyer requires mortgage financing, detailing conditions and requirements
2. Strata Title: Include for apartment purchases, detailing strata arrangements and common property
3. Furniture and Fittings: Include when property is sold furnished or with specific inclusions
4. Development Facilities: Include when property is part of a larger development with shared facilities
5. Property Management: Include for properties in managed communities or apartments
6. Environmental Provisions: Include when property is in an environmentally sensitive area or has specific environmental requirements
7. Third Party Rights: Include when there are existing tenants or other third-party interests
8. Pre-completion Modifications: Include when buyer has right to request modifications during construction
1. Property Specifications: Detailed technical specifications of the property including floor plans and materials
2. Payment Schedule: Detailed breakdown of payment installments and due dates
3. Land Certificate Details: Copy and details of the land certificate and ownership history
4. Construction Timeline: Detailed construction schedule and milestone dates
5. Fixtures and Fittings: Inventory of included fixtures, fittings, and appliances
6. Building Permits: Copies of relevant building permits and approvals
7. Property Rules: Development rules and regulations if part of a larger complex
8. Warranty Terms: Detailed warranty terms and conditions
9. Form of Notice of Completion: Template for formal completion notice
10. Handover Checklist: Detailed inspection and handover checklist
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Construction
Property Development
Banking and Finance
Legal Services
Housing Development
Urban Planning
Architecture and Design
Property Management
Insurance
Relevant Teams
Legal
Real Estate
Sales
Property Development
Construction
Compliance
Finance
Customer Relations
Quality Assurance
Project Management
Relevant Roles
Property Developer
Real Estate Attorney
Property Manager
Sales Director
Construction Manager
Legal Counsel
Financial Controller
Compliance Officer
Real Estate Agent
Project Manager
Contract Administrator
Development Director
Sales Manager
Customer Service Manager
Quality Assurance Manager
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