¶¶Òõ¶ÌÊÓƵ

Appraisal Contingency Addendum Template for Singapore

Create a bespoke document in minutes,  or upload and review your own.

4.6 / 5
4.8 / 5

Let's create your Appraisal Contingency Addendum

Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Get your first 2 documents free

Your data doesn't train Genie's AI

You keep IP ownership of your information

Key Requirements PROMPT example:

Appraisal Contingency Addendum

"Need an Appraisal Contingency Addendum for a Singapore commercial property purchase closing in March 2025, with a requirement for two independent valuations and a 15-day contingency period."

Document background
The Appraisal Contingency Addendum is a crucial document in Singapore's property transactions, designed to protect buyers from overpaying for properties. This document becomes necessary when buyers require financing and lenders need assurance of the property's value, or when buyers want to verify the property's market value independently. It specifies the conditions under which a buyer can withdraw from the purchase agreement based on the appraisal results, following Singapore's property regulations and banking requirements. The addendum typically includes details about the appraisal process, timeframes, and the rights and obligations of all parties involved.
Suggested Sections

1. Parties: Identifies all parties to the addendum (buyer, seller, agents)

2. Background: References the main purchase agreement and context

3. Definitions: Key terms used in the addendum including 'Appraisal', 'Appraised Value', 'Purchase Price'

4. Appraisal Requirement: States the requirement for property appraisal and qualification requirements for the appraiser

5. Timeframe: Deadline for completing the appraisal and delivering results

6. Contingency Terms: Conditions under which the contract may be terminated based on appraisal results

Optional Sections

1. Alternative Dispute Resolution: Optional clause for mediation/arbitration in case of disputes over appraisal results

2. Second Appraisal Rights: Optional provision allowing parties to obtain a second appraisal if dissatisfied with initial results

3. Cost Allocation: Optional section specifying how appraisal costs will be divided between parties

Suggested Schedules

1. Schedule A - Approved Appraiser List: List of acceptable licensed appraisers in Singapore

2. Schedule B - Appraisal Standards: Required valuation methodology and standards as per SISV guidelines

3. Schedule C - Timeline Schedule: Detailed timeline for appraisal process including key milestones and deadlines

Authors

Alex Denne

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

Relevant legal definitions






















Clauses




















Industries

Residential Property Act (Chapter 274): Core property legislation governing residential property ownership and transactions in Singapore, including restrictions on foreign ownership

Housing and Development Act (Chapter 129): Legislation governing public housing in Singapore, including HDB properties and their valuation requirements

Conveyancing and Law of Property Act (Chapter 61): Legal framework for property transactions and transfers, including requirements for valid property contracts

Appraisers Act (Chapter 16): Legislation governing the licensing and conduct of professional appraisers in Singapore

Valuers Act and Valuers Rules: Regulatory framework for property valuation practices and professional standards for valuers

SISV Guidelines: Professional guidelines issued by Singapore Institute of Surveyors and Valuers for property valuation methodology and standards

MAS Guidelines: Monetary Authority of Singapore's regulatory guidelines affecting property financing and valuation requirements

Banking Act (Chapter 19): Banking regulations affecting property financing and loan requirements, particularly for residential properties

MAS Notice 632: Specific regulations on residential property loans, including loan-to-value limits and requirements for property valuation

Contract Law (Chapter 53): General contract law principles applicable to property transactions and contingency agreements

Misrepresentation Act (Chapter 390): Legal framework protecting against false or misleading statements in property transactions and valuations

Consumer Protection (Fair Trading) Act: Consumer protection legislation ensuring fair practices in property transactions and related services

CEA Guidelines: Council for Estate Agencies guidelines governing real estate transactions and professional conduct

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

Find the exact document you need

Addendum Letter

find out more

Residential Tenancy Agreement Addendum

find out more

Early Lease Termination Addendum

find out more

First Addendum To Agreement

find out more

Seller Financing Addendum

find out more

Residential Lease Addendum

find out more

Rental Pet Agreement

find out more

Pet Lease Agreement

find out more

Pet Agreement Contract

find out more

Addendum To Lease Agreement Change Of Name

find out more

Construction Contract Addendum

find out more

Commercial Lease Amendment

find out more

Closing Date Extension Addendum

find out more

Addendum To Add Tenant To Lease

find out more

Addendum Loan Agreement

find out more

Appraisal Contingency Addendum

find out more

Amendment Agreement

find out more

Addendum To Memorandum Of Agreement

find out more

Addendum To Listing Agreement

find out more

Furnished Apartment Lease Addendum

find out more

Employment Contract Extension Addendum

find out more

Early Occupancy Agreement Lease Addendum

find out more

Contract Extension Addendum

find out more

Sales Contract Addendum

find out more

Rental Contract Addendum

find out more

Pet Addendum For Lease

find out more

Lease Extension Addendum

find out more

Lease Amendment

find out more

Employment Contract Amendment

find out more

Contract Addendum

find out more

Commercial Lease Amendment Form

find out more

Amendment To Sales Contract

find out more

Addendum To Lease Agreement Rent Increase

find out more

Addendum To Employment Contract

find out more

Addendum To Agreement

find out more

Download our whitepaper on the future of AI in Legal

By providing your email address you are consenting to our Privacy Notice.
Thank you for downloading our whitepaper. This should arrive in your inbox shortly. In the meantime, why not jump straight to a section that interests you here: /our-research
Oops! Something went wrong while submitting the form.

³Ò±ð²Ô¾±±ð’s Security Promise

Genie is the safest place to draft. Here’s how we prioritise your privacy and security.

Your documents are private:

We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently

All data stored on Genie is private to your organisation

Your documents are protected:

Your documents are protected by ultra-secure 256-bit encryption

Our bank-grade security infrastructure undergoes regular external audits

We are ISO27001 certified, so your data is secure

Organizational security

You retain IP ownership of your documents

You have full control over your data and who gets to see it

Innovation in privacy:

Genie partnered with the Computational Privacy Department at Imperial College London

Together, we ran a £1 million research project on privacy and anonymity in legal contracts

Want to know more?

Visit our for more details and real-time security updates.