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For Sale By Owner Contract Template for Singapore

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Key Requirements PROMPT example:

For Sale By Owner Contract

"I need a For Sale By Owner Contract for my 4-room HDB flat in Singapore, which I plan to sell directly to a local buyer for SGD 850,000, with completion planned for March 2025, and I want to include specific terms about existing renovations and fixtures."

Document background
The For Sale By Owner Contract is utilized in Singapore when property owners choose to sell their property directly to buyers without engaging real estate agents. This approach can reduce transaction costs but requires careful attention to legal compliance. The contract must adhere to Singapore's property laws, including HDB regulations where applicable, and should clearly specify all sale terms, property details, warranties, and transfer conditions. It's particularly important in Singapore's context due to specific requirements regarding property ownership, stamp duties, and transfer procedures.
Suggested Sections

1. Parties: Identification and details of the seller and buyer

2. Background: Context of the sale and property details

3. Definitions: Key terms used in the contract

4. Property Description: Detailed description of the property being sold

5. Purchase Price: Agreed price and payment terms

6. Completion Date: Timeline for sale completion

7. Warranties: Seller's warranties regarding the property

8. Title and Transfer: Provisions for transfer of ownership

Optional Sections

1. Fixtures and Fittings: Details of items included/excluded in sale - use when specific items need to be clarified as included or excluded from the sale

2. Condition Precedents: Conditions that must be met before completion - use when there are specific requirements that must be fulfilled before sale completion

3. Property Inspection: Terms regarding property inspection rights - use when specific inspection arrangements need to be documented

4. Financing Conditions: Terms related to buyer's financing arrangements - use when sale is contingent on buyer securing financing

Suggested Schedules

1. Property Floor Plan: Detailed floor plan of the property

2. Inventory List: List of fixtures and fittings included in the sale

3. Title Documents: Copies of relevant title documents

4. Property Certificates: Relevant property certificates and permits

5. Payment Schedule: Detailed breakdown of payment terms and timeline

Authors

Alex Denne

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

Relevant legal definitions






























Clauses






























Industries

Sale of Goods Act (Chapter 393): Primary legislation governing the sale of goods and transfer of ownership in Singapore. Defines fundamental rights and obligations of buyers and sellers in transactions.

Contract Law and Misrepresentation Act (Chapter 390): Common law principles governing contract formation, along with statutory provisions regarding misrepresentation in contracts and the Electronic Transactions Act for electronic contracts.

Residential Property Act (Chapter 274): Legislation controlling residential property ownership in Singapore, including restrictions on foreign ownership and requirements for property transactions.

Housing and Development Board (HDB) Rules: Specific regulations governing HDB flat transactions, including resale procedures and eligibility conditions for buyers and sellers.

Conveyancing and Law of Property Act (Chapter 61): Legal framework establishing requirements for property transactions and proper transfer of title in Singapore.

Stamp Duties Act: Legislation governing various property transaction taxes including Buyer's Stamp Duty (BSD), Additional Buyer's Stamp Duty (ABSD), and Seller's Stamp Duty (SSD).

Consumer Protection (Fair Trading) Act: Act ensuring fair trading practices and protecting consumer rights in transactions.

Personal Data Protection Act 2012: Legislation governing the collection, use, and disclosure of personal data in Singapore, relevant for handling personal information in contracts.

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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