Written Warning Statement

Licensed property agents are required to provide the purchasers with a separate written warning statement before they enter into any agreement in connection with the purchase or make any payment in relation to the purchase of uncompleted properties situated outside Hong Kong (“UPOH”) (whichever is the earlier), so as to remind and make sure the purchasers understand that they should:

1. Conduct due diligence on the vendor and the UPOH themselves;
   
2. Review carefully all relevant sales documents, including:
   • the due diligence report(s) provided by licensed property agent;
   • legal opinion on the material information; and
   • sales information sheet;
     
3. Pay attention that risks are involved in purchasing UPOH as the transaction is subject to the laws and to any change in policies and regulation of the place where the properties are situated;
   
4. Consider appointing an independent lawyer to protect their interests at all stages of the purchase and seek his assistance to explain the terms and conditions of any agreement in connection with the purchase (e.g. booking form, reservation form, agreement for sale and purchase) before entering into such agreement; and
   
5. Consider seeking independent professional advice on the types and amounts of taxes or levies that they may be liable to pay as foreign purchasers in relation to the purchase, resale, lease or holding of the properties, if any, in respect of their own case to protect their interests.