House Selling Agreement

House Selling Agreement Template for Singapore

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Key Requirements PROMPT example:

"I need a House Selling Agreement for a freehold property in Singapore's District 10, with a completion date of March 15, 2025, and special provisions for existing tenancy that runs until June 2025."

Document background

The House Selling Agreement is a crucial legal document used in Singapore real estate transactions to formalize the sale and purchase of residential property. It provides comprehensive coverage of all aspects of the property transfer, including detailed property description, purchase price, payment terms, warranties, and completion conditions. The agreement ensures compliance with Singapore's property laws and regulations, including HDB rules where applicable, and protects both parties' interests throughout the transaction. It serves as the primary reference document for the property transfer and is essential for legal and financing purposes.

Suggested Sections

1. Parties: Details of the seller and buyer, including full legal names, identification numbers, and addresses

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

3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, etc.

4. Property Details: Complete description of the property including address, lot number, strata title details, and land area

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

6. Completion: Timeline and conditions for completion of sale, including handover procedures

7. Seller's Warranties: Warranties regarding property ownership, condition, and absence of encumbrances

8. Buyer's Obligations: Obligations of the buyer including payment terms and compliance with regulations

9. Title and Transfer: Provisions regarding transfer of title and property ownership

10. Termination: Circumstances under which the agreement can be terminated and consequences

Optional Sections

1. Financing Conditions: Terms related to buyer's financing arrangements and mortgage requirements

2. Tenant Provisions: Terms regarding existing tenancy, including handover of tenancy deposits and documentation

3. En Bloc Provisions: Terms regarding potential collective sale and its impact on the transaction

4. Property Tax Adjustments: Provisions for pro-rating and adjustment of property tax payments

5. Renovation and Alterations: Terms regarding existing or planned renovation works and necessary approvals

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property specifications, boundaries, and included fixtures and fittings

2. Schedule 2 - Title Documents: List and copies of relevant title documents and certificates

3. Schedule 3 - Payment Schedule: Detailed breakdown of payment installments and timing

4. Schedule 4 - Property Plans: Floor plans, property boundaries, and architectural drawings

5. Schedule 5 - Inventory List: List of included furnishings, fixtures, and fittings

6. Appendix A - Existing Tenancy Documents: Copies of existing tenancy agreements and related documentation

7. Appendix B - Regulatory Approvals: Copies of relevant permits, certificates, and regulatory approvals

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 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

Clauses

Relevant Industries

Real Estate
Banking
Legal Services
Property Development

Relevant Teams

Legal
Real Estate
Finance
Operations
Compliance

Relevant Roles

Real Estate Agent
Property Lawyer
Mortgage Officer
Property Manager
Conveyancing Executive
Legal Counsel
Real Estate Director

Industries

Housing and Development Act: Primary legislation governing public housing (HDB properties) in Singapore, including regulations for sale and purchase

Residential Property Act: Regulates the purchase and ownership of residential properties by foreign persons in Singapore

Conveyancing and Law of Property Act: Governs the transfer of property ownership and related legal procedures in Singapore

Sale of Goods Act: General legislation governing sale contracts, which may have relevant principles applicable to property sales

Land Titles Act: Regulates the registration and transfer of land titles in Singapore

Planning Act: Controls land use and property development in Singapore

SLA Regulations: Singapore Land Authority regulations governing land ownership and administration

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

HDB Rules: Specific rules and regulations governing the sale and purchase of public housing

CEA Regulations: Council for Estate Agencies regulations governing real estate transactions and agency practices

Stamp Duties Act: Governs various property-related stamp duties including Buyer's Stamp Duty (BSD), Additional Buyer's Stamp Duty (ABSD), and Seller's Stamp Duty (SSD)

Property Tax Regulations: Rules governing property tax obligations and payments

GST Requirements: Goods and Services Tax implications for property transactions where applicable

Land Tenure Rules: Regulations differentiating between freehold and leasehold properties and their implications

Property Zoning Regulations: Rules governing permitted usage and development of properties in different zones

Conservation Guidelines: Special requirements for properties with conservation status

En Bloc Regulations: Rules governing collective sales and their implications for property transactions

Due Diligence Requirements: Legal requirements for property title searches, ownership verification, and encumbrance checks

Strata Title Requirements: Specific regulations governing the sale of strata-titled properties

Option to Purchase Requirements: Rules governing the creation, execution, and exercise of Option to Purchase agreements in property transactions

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Authors

Alex Denne

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