# Residential Sale-Purchase Agreement DD

> Component slug: `contract-dd-spa-residential`. Researched: `2026-05-18T00:45:00Z`. Sources cited: `18`. Token usage: `~28000`.

## 1. Summary (≤3 sentences)

Residential sale-purchase agreements in Australia (governed by state-specific REIV/LIV, REINSW, and REIQ standard forms) and Hong Kong (centred on the PASP + formal ASP two-stage process) share a common architecture — deposit, conditions precedent, default remedies — but differ substantially in cooling-off rights, disclosure obligations, vendor warranty regimes, and stamp duty exposure. [ref: #145] [ref: #147] [ref: #152] The buyer's primary risk-management levers in Australia are statutory cooling-off periods (3–5 business days) and negotiated conditional clauses (finance, building/pest, FIRB, subject-to-sale); in Hong Kong, the PASP is immediately binding with no cooling-off, making pre-signing due diligence the only effective protection window. [ref: #148] [ref: #154] After HK's February 2024 demand-side stamp duty abolition, transaction costs have narrowed significantly, though the absence of cooling-off and limited vendor warranty disclosure remains a structural buyer risk. [ref: #14]