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Real Estate Buy And Sell Agreement Template for Singapore

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Key Requirements PROMPT example:

Real Estate Buy And Sell Agreement

"I need a Real Estate Buy And Sell Agreement for a private condominium unit in Singapore, where the buyer is a foreign corporation and completion is expected by March 2025; the agreement should include specific provisions for foreign ownership approval and corporate buyer requirements."

Document background
The Real Estate Buy And Sell Agreement is a fundamental document in Singapore property transactions, essential for both residential and commercial property transfers. It serves as the primary contract documenting the sale terms, buyer and seller obligations, and compliance with Singapore's strict property regulations. This agreement is particularly important given Singapore's unique property landscape, including restrictions on foreign ownership, HDB regulations, and various stamp duty requirements. It provides legal protection for both parties and ensures the transaction meets all regulatory requirements under Singapore law.
Suggested Sections

1. Parties: Identifies and details the buyer and seller including their full legal names, identification numbers, and addresses

2. Background: Context of the transaction, property overview, and intention of the parties to enter into the sale and purchase

3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, etc.

4. Property Description: Detailed description of the property including address, land area, floor area, and title details

5. Purchase Price: Purchase price, payment structure, deposit requirements, and payment methods

6. Conditions Precedent: Conditions that must be fulfilled before completion including legal requisitions and title searches

7. Completion: Terms and timeline for completion, including completion date, venue, and documentation requirements

8. Seller's Warranties: Representations and warranties about the property's condition, ownership, and encumbrances

9. Buyer's Warranties: Representations and warranties about the buyer's capacity to purchase and financial ability

10. Default Provisions: Consequences and remedies in case of default by either party

11. Miscellaneous: Standard provisions including notices, entire agreement, governing law, and dispute resolution

Optional Sections

1. HDB Compliance: Additional terms and requirements specific to HDB properties including ethnic quota and eligibility conditions

2. Foreign Ownership: Additional requirements and warranties for foreign buyers including Land Dealings Approval Unit clearance

3. Existing Tenancy: Provisions relating to existing tenancy arrangements including assignment or termination of lease

4. Mortgage Discharge: Terms for discharge of existing mortgage and coordination with financial institutions

5. GST Provisions: Special provisions if the property sale is subject to Goods and Services Tax

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property specifications, floor plans, and boundaries

2. Schedule 2 - Inventory List: Comprehensive list of fixtures, fittings, and furnishings included in the sale

3. Schedule 3 - Payment Schedule: Detailed breakdown of payment terms, amounts, and due dates

4. Schedule 4 - Title Documents: Copies of title documents, strata title (if applicable), and other relevant certificates

5. Schedule 5 - Outstanding Property Tax and Utility Bills: List of outstanding charges and apportionment details

Authors

Alex Denne

Head of Growth (Open Source Law) @ ºÚÁÏÊÓÆµ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Relevant legal definitions








































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Industries

Sale of Goods Act (Cap. 393): Primary legislation governing the sale and transfer of property, establishing basic rules for sales contracts and property transactions

Conveyancing and Law of Property Act (Cap. 61): Fundamental law governing property transactions and transfers in Singapore, including rules about property rights and interests

Land Titles Act (Cap. 157): Legislation governing the registration and transfer of land titles in Singapore, establishing the land titles system

Residential Property Act (Cap. 274): Regulates foreign ownership of residential property in Singapore and sets restrictions on foreign purchases

Housing and Development Act (Cap. 129): Governs public housing (HDB) transactions, including rules for purchase, sale, and ownership of HDB properties

Planning Act (Cap. 232): Controls land use and development in Singapore, affecting property zoning and usage restrictions

CEA Regulations: Council for Estate Agencies regulations governing real estate transactions and agent conduct

URA Guidelines: Urban Redevelopment Authority guidelines affecting property development and usage

SLA Requirements: Singapore Land Authority requirements for land ownership and transfer

MAS Regulations: Monetary Authority of Singapore regulations regarding property financing and loans

Stamp Duties Act (Cap. 312): Governs stamp duties payable on property transactions, including ABSD and SSD

Ethnic Integration Policy: Policy maintaining ethnic proportions in HDB estates to promote racial harmony

SPR Quota: Singapore Permanent Resident quota restrictions for HDB property purchases

GST Act: Goods and Services Tax implications for property transactions where applicable

Property Tax Regulations: Rules governing property tax obligations and calculations for property owners

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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