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Agreement For Purchase And Sale Of Real Property
"I need an Agreement For Purchase And Sale Of Real Property for a Singapore commercial property purchase between two corporate entities, with completion scheduled for March 2025, including provisions for existing tenancies and GST treatment."
1. Parties: Identifies and provides full details of the seller and purchaser
2. Background: Sets out the context of the transaction, including brief property description and seller's ownership
3. Definitions: Defines key terms used throughout the agreement
4. Sale and Purchase: Core agreement to sell and purchase the property at the specified price
5. Property Description: Detailed description of the property including address, land area, and title details
6. Purchase Price: States the purchase price and payment structure including deposit and completion payment
7. Payment Terms: Details the payment schedule, method of payment, and treatment of deposit
8. Conditions Precedent: Lists conditions that must be satisfied before completion can occur
9. Due Diligence: Buyer's rights and timeline for property investigation and title review
10. Seller's Representations and Warranties: Seller's promises about the property's condition and legal status
11. Buyer's Representations and Warranties: Buyer's promises regarding capacity to purchase and financial ability
12. Completion: Details of the completion process, timing, and requirements
13. Title and Transfer: Provisions regarding transfer of title and property ownership
14. Property Condition: State of the property upon handover and any included/excluded items
15. Taxes and Costs: Allocation of stamp duties, legal fees, and other transaction costs
16. Default and Termination: Consequences of breach and termination rights
17. Notices: How formal communications between parties should be made
18. Governing Law and Jurisdiction: Confirms Singapore law governs and Singapore courts have jurisdiction
19. General Provisions: Standard contractual provisions including entire agreement, amendments, and severability
1. Existing Tenancies: Required when the property is sold with sitting tenants, detailing treatment of rental deposits and existing lease agreements
2. Renovation Works: Needed when there are ongoing or planned renovation works that affect the transaction
3. CPF Usage: Required when buyer is using CPF funds for the purchase
4. Bank Financing: Include when purchase is conditional on obtaining bank financing
5. En Bloc Potential: Relevant for properties with collective sale potential
6. Property Tax Apportionment: Detailed tax prorating when specific arrangements are needed
7. Property Management: For properties in managed developments with specific rules or requirements
8. Foreign Ownership Approval: Required when buyer needs Land Dealings (Approval) Unit clearance
9. GST Treatment: Required for GST-registered sellers or commercial properties
10. Defects Liability: Important for new or recently completed properties
1. Property Details Schedule: Detailed property information including floor plan, boundaries, and fixtures
2. Inventory List: List of movable items included/excluded in the sale
3. Payment Schedule: Detailed breakdown of payment amounts and timing
4. Existing Tenancy Details: Copies of current lease agreements and tenant information
5. Title Documents: Copy of title search and relevant title documents
6. Property Tax Information: Recent property tax statements and assessments
7. Maintenance Fee Schedule: Details of maintenance fees for managed properties
8. Outstanding Works Schedule: List of any pending repairs or renovation works
9. Regulatory Approvals: Copies of relevant governmental approvals
10. Form of Transfer: Prescribed property transfer form
Authors
Property Lawyer
Conveyancing Lawyer
Property Manager
Real Estate Developer
Investment Manager
Bank Manager
Mortgage Specialist
Property Valuer
Legal Counsel
Company Director
Company Secretary
Compliance Officer
Real Estate Investment Manager
Property Acquisition Manager
Asset Manager
Facilities Manager
Real Estate Portfolio Manager
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