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1. a. Assignment for a residential property – if ad valorem stamp duty has been paid on the agreement, the stamp duty payable on the assignment is $100. b. Where a residential property transaction has more than one agreement for sale and purchase – If the date of the provisional agreement and the date of the formal agreement are more than ...
"Heaven, in its motion, gives the idea of strength. The superior man, in accordance with this, nerves himself to ceaseless activity." It has been my great honour to have served as the Founding Chairman of the Estate Agents Authority during the past six years. In ...
1. All references to: “EAA” shall mean the Estate Agents Authority. “Practice Circular” shall mean Circular No. 15-05 (CR) issued by the EAA on Sale and Purchase or Leasing of Car Parking Spaces. The terms stated and/or defined in the Practice Circular shall have the same meanings herein unless the context requires otherwise. 2.
The completion date and time will be specified in the formal agreement. The completion time is usually between 9am and 5pm if the completion date falls on a day from Monday to Friday or between 9am and 1pm if it falls on a Saturday. 6. The place for completion is usually the office of the vendor's solicitors. 7.
CIRCULARS. Circular No. 05-07 (CR) Stakeholding of Deposits. It is current conveyancing practice that upon the signing of a Provisional Agreement for Sale and Purchase (PASP), an initial deposit is invariably payable. Such initial deposit ranges from 3% to 5% of the purchase price and is usually paid directly to the vendor. From time to time ...
Estate Agents Ordinance and its subsidiary legislation. In Hong Kong, there are specific statutory provisions governing the practice of estate agents and salespersons under the EAO and its subsidiary legislation. Ethical standards and practical guidelines are found in the Practice Directions and Code of Ethics and in various Practice Circulars ...
Circular No. 15-05 (CR) Enter into Form 3/Form 5 with the vendor/landlord and Form 4/Form 6 with the purchaser/tenant if the transaction involves the sale and purchase/leasing of both a car parking space and a residential property. Make arrangements for the purchaser/tenant to inspect and view both the residential property and car parking space ...
