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Apartment Sales Contract

Apartment Sales Contract Template for Singapore

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Key Requirements PROMPT example:

Apartment Sales Contract

"I need an Apartment Sales Contract for a Singapore condominium unit being sold with existing tenants, where completion needs to happen by March 2025, and the contract should include provisions for the transfer of the current tenancy agreement."

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Document background
The Apartment Sales Contract is a fundamental legal instrument in Singapore's real estate transactions, essential for documenting the sale and purchase of residential apartments. This document is used when transferring ownership of both new and resale apartments, whether between private individuals or involving property developers. It must comply with Singapore's stringent property regulations, including the Housing Developers (Control and Licensing) Act, Residential Property Act, and Conveyancing and Law of Property Act. The contract covers crucial elements such as property details, payment terms, completion requirements, CPF considerations, and stamp duty obligations. It's designed to protect both vendors' and purchasers' interests while ensuring transparency and legal compliance in Singapore's highly regulated property market.
Suggested Sections

1. Parties: Identification of the Vendor and Purchaser with full legal names, identification numbers, and addresses

2. Background: Context of the sale including brief property description and intention to sell/purchase

3. Definitions: Definitions of key terms used throughout the agreement

4. Property Details: Detailed description of the property including unit number, floor area, floor plan reference, and share in common property

5. Purchase Price: Agreed purchase price and payment schedule including deposit and balance payment terms

6. Mode of Payment: Acceptable payment methods, use of CPF funds, and financing arrangements

7. Completion: Completion date, conditions for completion, and completion procedures

8. Title and Ownership: Warranties of title, encumbrances, and restrictions on title

9. Property Condition: Current condition of the property and any agreed repairs or modifications

10. Vacant Possession: Terms and timing for delivering vacant possession

11. Default Provisions: Consequences of default by either party and remedies available

12. Stamp Duty: Responsibilities for payment of stamp duties including ABSD if applicable

13. Costs and Expenses: Allocation of legal fees, registration fees, and other transaction costs

14. Notices: Method and addresses for serving notices between parties

15. Governing Law: Specification of Singapore law as governing law and jurisdiction

Optional Sections

1. En Bloc Provisions: Include when the development has potential for collective sale or en bloc sale

2. Progressive Payment Scheme: Required for properties under construction with progressive payment schedules

3. Renovation Works: Include when specific renovation works are agreed to be completed before completion

4. Tenancy Provisions: Include when property is sold with existing tenancy

5. CPF Refunds: Include when seller has utilized CPF funds and needs to make refunds

6. Inventory List: Include when sale includes furniture or fittings

7. Defects Liability: Include for new properties still under defects liability period

8. Property Tax Apportionment: Include when specific arrangements for property tax division are needed

9. Maintenance Charge Apportionment: Include when specific arrangements for maintenance fee division are needed

10. Vehicle Parking: Include when sale includes parking lot or specific parking arrangements

Suggested Schedules

1. Property Schedule: Detailed property particulars including floor plan and specifications

2. Payment Schedule: Detailed breakdown of payment terms and deadlines

3. Inventory List Schedule: List of included furniture, fittings, and appliances if applicable

4. Fixtures and Fittings Schedule: Description of fixtures and fittings included in the sale

5. Defects List: List of existing defects acknowledged by both parties

6. Renovation Schedule: Details of agreed renovation works if applicable

7. Certified Plans: Approved building plans and floor plans

8. Title Documents: Copies of relevant title documents and encumbrances

9. Maintenance Records: Recent maintenance records and payments

10. Strata Title Information: Details of share value and strata title information

Authors

Alex Denne

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

alex.den.21@genieai.co
Relevant legal definitions


















































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Industries

Housing Developers (Control and Licensing) Act: Regulates housing developers and provides protection for homebuyers purchasing properties from developers, including mandatory provisions in sale and purchase agreements

Sale of Commercial Properties Act: Governs the sale and purchase of commercial properties and provides regulations for transactions involving non-residential properties

Land Titles Act: Establishes the land titles system in Singapore and provides for the registration of titles and dealings in land

Residential Property Act: Restricts and regulates the purchase of residential properties by foreign persons and entities

Building Maintenance and Strata Management Act: Governs the management and maintenance of strata-titled properties, including apartments in multi-unit developments

Conveyancing and Law of Property Act: Provides the basic legal framework for property transactions and transfers in Singapore

Stamp Duties Act: Regulates the payment of stamp duties on property transactions, including Additional Buyer's Stamp Duty (ABSD) and Seller's Stamp Duty (SSD)

Central Provident Fund Act: Relevant for rules regarding the use of CPF funds for property purchases and monthly loan repayments

Planning Act: Controls the development of land and the use of buildings in Singapore, affecting property transactions

Consumer Protection (Fair Trading) Act: Provides general consumer protection principles that may apply to property transactions

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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