A Buy Sell Agreement For A House is a crucial legal document used in Singapore's property market to formalize property transactions. This agreement is essential when transferring ownership of residential properties, whether private or HDB, and must comply with Singapore's strict property regulations. The document includes detailed information about the property, payment terms, conditions precedent, warranties, and completion requirements. It's particularly important as Singapore's property market has specific requirements for different types of buyers (citizens, permanent residents, foreigners) and properties (HDB, private, landed).
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1. Parties: Details of the buyer and seller, including full legal names and identification
2. Background: Context of the transaction and property details
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including address and land title particulars
5. Purchase Price: Agreed purchase price and payment terms
6. Completion: Terms and timing of completion of the sale
7. Warranties: Seller's warranties regarding the property
1. Financing Conditions: Required if buyer needs mortgage financing - includes conditions precedent related to obtaining bank loans
2. HDB Approval: Conditions related to HDB approval - required for HDB properties including resale requirements
3. Foreign Ownership Approval: Requirements for foreign buyer approval under the Residential Property Act
1. Property Schedule: Detailed description of the property including floor plan and boundaries
2. Inventory List: List of fixtures and fittings included in the sale
3. Title Documents: Copies of relevant title documents and certificates
4. Payment Schedule: Detailed breakdown of payment terms and timelines
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