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Agreement Between Buyer And Seller Of Property Template for Singapore

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Key Requirements PROMPT example:

Agreement Between Buyer And Seller Of Property

"I need an Agreement Between Buyer And Seller Of Property for a 3-bedroom HDB flat in Singapore, with completion date set for March 2025, including specific provisions for existing tenant arrangements and en bloc potential."

Document background
The Agreement Between Buyer And Seller Of Property is a crucial legal document used in Singapore real estate transactions. It serves as the primary contract establishing the terms and conditions of property transfer, including price, payment schedule, and completion requirements. This agreement is essential for both residential and commercial property transactions in Singapore, ensuring compliance with local property laws and regulations. It provides legal protection for both parties and serves as the basis for the property transfer process, including registration with the Singapore Land Authority.
Suggested Sections

1. Parties: Details of the buyer and seller, including full legal names and addresses

2. Background: Context of the sale and brief property description

3. Definitions: Key terms used throughout the agreement

4. Property Details: Full description of the property including address, title details, and boundaries

5. Purchase Price: Amount and payment terms, including deposit arrangements

6. Conditions Precedent: Conditions that must be satisfied before completion

7. Completion: Timeline, process and requirements for completion of sale

8. Seller's Warranties: Representations and warranties given by the seller regarding the property

9. Buyer's Warranties: Representations and warranties given by the buyer regarding capacity to purchase

10. Default and Termination: Consequences of breach and termination rights

11. General Provisions: Standard contractual provisions including notices, governing law, and dispute resolution

Optional Sections

1. Financing Conditions: Terms related to mortgage financing and loan approval requirements

2. En Bloc Provisions: Specific terms for collective sales agreements

3. Tenancy Provisions: Terms regarding existing tenants and lease arrangements

4. GST Provisions: Special provisions regarding Goods and Services Tax if applicable

5. Foreign Ownership Provisions: Additional requirements if buyer is a foreign person or entity

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property description, including floor plan and boundaries

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

3. Schedule 3 - Title Documents: Copies of relevant property ownership documents and searches

4. Schedule 4 - Payment Schedule: Detailed breakdown of payment timeline and installments

5. Schedule 5 - Completion Requirements: List of documents and items to be delivered at completion

Authors

Alex Denne

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

Relevant legal definitions







































Clauses

































Industries

Civil Law Act (Cap. 43): Primary legislation governing civil law matters in Singapore, including contract law principles applicable to property transactions

Conveyancing and Law of Property Act (Cap. 61): Key legislation governing property transactions and transfer of real estate in Singapore

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

Sale of Goods Act (Cap. 393): Legislation governing sale and purchase transactions, with principles that may apply to property transactions

Housing and Development Board Act: Legislation governing public housing (HDB) properties, including rules for purchase, sale, and ownership

Residential Property Act: Legislation controlling foreign ownership of restricted residential properties in Singapore

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

MAS Guidelines: Monetary Authority of Singapore guidelines affecting property financing and transactions

SLA Requirements: Singapore Land Authority requirements for property registration and land matters

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

Stamp Duties Act: Legislation governing various property-related duties including Buyer's Stamp Duty (BSD), Additional Buyer's Stamp Duty (ABSD), and Seller's Stamp Duty (SSD)

Property Tax Regulations: Rules governing the taxation of property ownership and transactions

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

Foreign Ownership Restrictions: Rules limiting and governing foreign ownership of residential properties in Singapore

HDB Resale Regulations: Specific rules and procedures governing the resale of HDB properties

En Bloc Sales Regulations: Rules governing collective sales of properties in Singapore

Strata Title Requirements: Regulations governing ownership and management of strata-titled properties

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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