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Commercial Real Estate Offer To Purchase Template for Singapore

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Key Requirements PROMPT example:

Commercial Real Estate Offer To Purchase

"I need a Commercial Real Estate Offer To Purchase for a 5-story office building in Singapore's Central Business District, with a proposed completion date of March 15, 2025, including specific conditions about existing tenancies and renovation permissions."

Document background
The Commercial Real Estate Offer To Purchase is a crucial initial document in Singapore's commercial property transactions. It is used when a potential buyer wishes to formalize their interest in purchasing commercial property, whether office space, retail units, industrial facilities, or mixed-use developments. The document includes essential elements such as property details, purchase price, payment terms, conditions precedent, and due diligence requirements. It must comply with Singapore's strict property regulations and often serves as the basis for the final Sale and Purchase Agreement. This document is particularly important in Singapore's dynamic commercial real estate market, where clear documentation and compliance with local regulations are essential.
Suggested Sections

1. Parties: Details of the purchaser and vendor, including registration numbers and addresses

2. Background: Context of the transaction and property overview

3. Definitions: Key terms used throughout the document

4. Property Description: Detailed description of the property including lot number, floor area, and boundaries

5. Purchase Price: Amount and payment terms including deposit structure and payment milestones

6. Due Diligence: Timeframe, scope and conditions for due diligence investigations

7. Warranties and Representations: Vendor's warranties regarding the property condition, title, and encumbrances

8. Completion: Completion date, requirements, and closing procedures

9. Default and Termination: Consequences of default and termination rights

10. Notices: Process for serving notices between parties

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

Optional Sections

1. Conditions Precedent: Specific conditions that must be met before completion, such as regulatory approvals or financing conditions

2. Tenant Rights: Provisions relating to existing tenancies and tenant obligations

3. Foreign Ownership Provisions: Special conditions and requirements for foreign buyers

4. GST Provisions: Specific provisions relating to Goods and Services Tax obligations

5. Property Management: Interim property management arrangements between exchange and completion

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property specifications, including floor plans and site maps

2. Schedule 2 - Title Documents: Copies of relevant title documents and encumbrances

3. Schedule 3 - Due Diligence Checklist: Comprehensive list of required due diligence items and documents

4. Schedule 4 - Form of Transfer: Prescribed form for property transfer under Singapore law

5. Schedule 5 - Property Condition Report: Detailed report on current condition of the property and any defects

6. Schedule 6 - Existing Tenancies: Details of current lease agreements and tenant obligations

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






































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Industries

Planning Act (Chapter 232): Primary legislation governing land use, development control and planning permissions in Singapore

Land Titles Act (Chapter 157): Regulates the registration and transfer of land titles in Singapore, establishing the land titles system

Conveyancing and Law of Property Act (Chapter 61): Governs property transactions and transfers, including rules about property rights and interests

Sale of Commercial Properties Act: Specific regulations governing the sale and purchase of commercial properties in Singapore

Environmental Protection and Management Act: Environmental regulations affecting property development and use

Building Control Act (Chapter 29): Regulates building works and ensures building safety and standards

URA Guidelines: Urban Redevelopment Authority guidelines for property development and use

BCA Regulations: Building and Construction Authority regulations for building standards and safety

SLA Requirements: Singapore Land Authority requirements for land ownership and usage

IRAS Property Tax Regulations: Tax obligations and requirements related to commercial property ownership

Goods and Services Tax Act: GST implications for commercial property transactions

Stamp Duties Act: Regulations governing stamp duty obligations in property transactions

Fire Safety Act: Fire safety requirements and compliance for commercial properties

Workplace Safety and Health Act: Safety and health requirements for commercial premises

Environmental Public Health Act: Public health and sanitation requirements for commercial properties

Common Law Principles of Contract: General contract law principles applicable to property transactions in Singapore

Zoning Regulations: Specific rules about permitted commercial property uses in different zones

Foreign Ownership Restrictions: Regulations governing foreign ownership of commercial properties in Singapore

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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