Agreement

Upon receipt of the draft sale and purchase agreement, the vendor’s solicitor peruses it and makes whatever applicable amendments or suggested amendments to it and sends it back to the purchaser’s solicitor.

Following the completion of negotiations of the terms and conditions of the draft sale and purchase agreement, the vendor’s solicitors proceed to prepare the following documents for their client:

1. (a) The CKHT form 1A for real property gains tax purposes. The solicitor should obtain a copy of the previous sale and purchase agreement and all evidence of expenditure incurred by the vendor for the reduction of the real property gains tax payable;
2. (b) A statutory declaration by the vendor confirming that he is not a bankrupt or if the vendor is a company then a statutory declaration by its authorised directors that they are not bankrupts and the company is not subject to winding up proceedings;
3. (c)The bill for legal fees and disbursements;
4. (d)A letter of authorisation to act for the vendor in dealings with the vendor’s financier’s;
5. (e) The application form and statutory declaration for the state authority’s consent to transfer (if applicable);

The vendor’s solicitor then awaits receipt of four copies of the original (fair) sale and purchase agreement duly executed by the purchaser and attested by the purchaser’s solicitor, together with:

1. (a) Deposit sum for the purchase of the property and the PDS 15 form duly executed by the purchaser;
2. (b) The statutory declaration and the relevant part of the state authority application form (if required); and
3. (c)The memorandum of transfer form (form 14A of the National Land Code) duly executed by the purchaser;
4. (d) And for properties without title, four (4) copies of the deed of Assignment;

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