Process of home purchase

Property under construction：

The term "property under construction" in this section covers both uncompleted development or buildings which have been erected but the developer has not yet obtained the occupation permit from the Buildings Department.

Completed property：

The term "completed property" in this section covers buildings which have been erected and the developer has obtained the occupation permit from the Buildings Department.

Journey to buy a first-hand residential property

1.
Think about your financial position and repayment ability carefully
2.
Consult professional real estate agent about market information
3.
View show flat(s) (if any)
4.
Make reference to the detailed information set out in the sales brochure issued by the vendor
5.
Make reference to the detailed information set out in the relevant price list issued by the vendor (if applicable)
6.
Submit Registration of Intent together with the cashier's order(s) (if applicable)
7.
Make reference to the detailed information set out in the relevant sales arrangement issued by the vendor
8.
Select property(ies) on the date of the sale in accordance with the method used to determine the order of priority e.g. balloting, tender or first-come-first-served basis and conditional offers set out in the Sales Arrangement

Prospective purchaser successfully selects any specified property

1.
View the particular property in a completed development that purchaser intends to buy (if applicable)
2.
Sign a preliminary agreement for sale and purchase ("PSAP") and pay the preliminary deposit which amounts to 5% of the purchase price
3.
Appoint the solicitor specified by the vendor or consider appointing your own solicitor for the purchase
4.
For immediate mortgage payment method, apply mortgage loan from bank/financial institution or those designated by the vendor to finance the purchase (if applicable)
5.
Enter into an agreement for sales and purchase ("ASP") and pay further deposit (if applicable) within 5 working days after the signing of a PASP. Stamp duty shall be paid by purchaser within 30 days from the date of ASP. In general practice, the stamp duty would be made payable to solicitors' firm upon signing ASP, the solicitor will accordingly pay the stamp duty to the Inland Revenue Department and has the document stamped within 30 days from the date of ASP to act on your behalf.
6.
For stage payment or other mortgage payment method available, apply mortgage loan from bank/financial institution or those designated by the vendor to finance the purchase (if applicable)
7.
Get the noice to complete issued by the vendor that the vendor is in a position validly to assign the property (if applicable)
8.
Pay the remaining balance of purchase price
9.
Sign the assignment
10.
Inspect the property

Registrant who has not purchased any specified property

1.
Cashier's order(s) will be returned with the assistance of real estate agent in case registration of intent was submitted before
2.
Check if there are any properties in the same development project may be offered for sale subsequently or search for other properties on the market with the help of real estate agent

Important Notes to the Purchasers

Sales of First-hand Residential Properties: Important Notes to the Purchasers

Our Company does not act for the Prospective Purchasers, Prospective Purchasers should pay attention to the following points:

本公司不代表準買家行事，現促請準買家注意以下各事項：

The Prospective Purchasers should obtain and inspect the latest sales brochures, price lists and sales arrangements from the Developer’s sales office, website or the Sales of First-hand Residential Properties Electronic Platform.

The Prospective Purchasers should carefully study the latest *sales brochures, #price lists, sales arrangements, the Register of transactions and draft deed of mutual covenant and the Government Lease before signing the Agreement for Sale and Purchase.

*Sales Brochures contain all information required under the Residential Properties (First-hand Sales) Ordinance, any other promotional materials are not part of the sales brochure.

#Price Lists contain the names of all the agents appointed by the Developer and the information of gifts, financial advantage or benefit offered by the Developer.

The Prospective Purchasers should read the “Note to Purchasers of First-hand Residential Properties” before making a purchase decision and such Note can be downloaded from the website of Sales of First-hand Residential Properties Authority.

The Prospective Purchasers should pay attention to the actual dimensions of the units stated in the sales brochure and not to rely on their perception on the size of the units formed from the viewing of show flats.

The Prospective Purchasers may take measurement of show flats.

The Prospective Purchasers should directly contact the Bank and Finance Company or the Developer to enquire the details of the mortgage or loan.

The Prospective Purchasers should execute the Agreement for Sale and Purchase within five working days after entering into Preliminary Agreement, the Preliminary Agreement will be terminated and the preliminary deposit (ie. 5% of the purchase price) will be forfeited if the Prospective Purchasers fail to do so.

The Prospective Purchasers could check the details of the registrations of intent submitted by our Company/the name of a company of which Our Company is a shareholder and/or director, and/or our licensees/licensees’companies in the sale of the first hand residential properties that Our Company is appointed as agent in Our Company website.