The Letter of Offer to Sell Property is a crucial document in Singapore's property transaction process, serving as the first formal step in property sales. This document is used when a property owner wishes to formally communicate their intention to sell their property and outline the terms of sale. It includes essential information such as property details, asking price, payment terms, and any specific conditions of sale. The document must comply with Singapore's property laws and regulations, including requirements from the Singapore Land Authority, Urban Redevelopment Authority, and, if applicable, Housing Development Board. This letter forms the basis for subsequent negotiations and, if accepted, leads to the formation of a binding contract.
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Key Requirements PROMPT example:
Letter Of Offer To Sell Property
"I need a Letter of Offer to Sell Property for my three-bedroom condominium in Singapore's East Coast area, with a sale price of SGD 2.3 million and a completion date of March 15, 2025, including specific terms about existing kitchen appliances that will be included in the sale."
1. Seller's Details: Full legal name and address of the property owner, including NRIC/Registration number
2. Property Description: Complete address, legal description, and land title details of the property
3. Offer Price: The proposed selling price in Singapore dollars and payment structure
4. Payment Terms: Structure and timeline of payments, including deposit requirements and completion date
5. Offer Validity Period: Duration for which the offer remains valid and conditions for acceptance
6. Property Condition: Current state of the property, any known defects, and as-is conditions
1. Fixtures and Fittings: Detailed list of items included or excluded from the sale
2. Tenancy Status: Details of existing tenancy agreements and handover conditions
3. Special Conditions: Any specific requirements, conditions, or restrictions affecting the sale
4. Property Tax Details: Current property tax obligations and arrangements
5. Regulatory Compliance: Specific mentions of compliance with HDB rules, foreign ownership restrictions, or other regulatory requirements
1. Property Title Search: Recent title search document showing ownership and encumbrances
2. Floor Plan: Current floor plan and property measurements
3. Property Tax Statement: Recent property tax assessment and payment status
4. Property Photographs: Recent photographs showing current condition of the property
5. Inventory List: Detailed inventory of fixtures, fittings, and furnishings included in the sale
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