Hong Kong Law Reform Commission

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Part I - Second-hand Market. Chapter 2 - The general approach to the second-hand market

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Completed residential units in the second-hand market

2.1 In this part, we consider the means to improve the existing protection to purchasers of completed units in the second-hand market. Here we refer to those residential units with an occupation permit sold by private vendors to purchasers. Private vendors are those who are not in business as a developer or subsidiaries or associates of a developer.

Lack of sales brochure

2.2 In the second-hand market, there rarely be a sales brochure as the vendors are mainly private individuals. Thus, we shall explore other means of imposing positive duties on private vendors to provide essential property information to prospective purchasers. In this respect, we shall look at the feasibility of introducing a vendor’s information form. We shall also study the possibility of inserting certain standard clauses into the preliminary agreement.