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Offer To Buy Real Estate Form Template for Singapore

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Key Requirements PROMPT example:

Offer To Buy Real Estate Form

"I need an Offer To Buy Real Estate Form for a 3-bedroom private condominium in Singapore's District 10, with a purchase price of SGD 2.8 million and an option period of 14 days, including special conditions for existing renovation works to be included in the sale."

Document background
The Offer To Buy Real Estate Form is a crucial document in Singapore's property transaction process, serving as the initial formal step in property acquisition. This document is typically used when a prospective buyer has identified a property of interest and wishes to make a formal offer to purchase. It includes critical information such as property details, purchase price, payment terms, option period, and any specific conditions of the offer. The form must comply with Singapore's property laws, including the Residential Property Act, and may require additional provisions depending on whether the property is private or HDB-regulated. It forms the basis for the subsequent Option to Purchase agreement if the offer is accepted.
Suggested Sections

1. Property Details: Full description of property including address, lot number, floor area, and property type

2. Purchase Price: Stated purchase price, payment terms, and method of payment

3. Option Period: Duration for which offer remains valid and conditions for exercise of option

4. Payment Schedule: Breakdown of payment timeline including option fee, deposit and completion payment

5. Conditions Precedent: Conditions that must be met before sale completion, including financing and regulatory approvals

Optional Sections

1. Renovation Agreement: Terms regarding existing renovations included in the sale and any specific renovation conditions

2. Tenancy Details: Information about existing tenancy, including terms and handover conditions if property is currently tenanted

3. Foreign Buyer Declaration: Additional declarations and commitments required for non-Singaporean buyers under the Residential Property Act

Suggested Schedules

1. Property Floor Plan: Detailed floor plan of the property showing layout and dimensions

2. Inventory List: Comprehensive list of fixtures, fittings, and furnishings included in the sale

3. Title Search: Recent title search results showing ownership and encumbrances

4. Valuation Report: Professional valuation of property including comparative market analysis

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

Residential Property Act (Chapter 274): Primary legislation governing residential property transactions in Singapore, especially important for restrictions on foreign ownership of residential property

Sale of Commercial Properties Act: Legislation governing the sale and purchase of commercial real estate properties in Singapore

Housing and Development Act: Regulates all matters related to public housing (HDB properties) including purchase, sale, and ownership conditions

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

Conveyancing and Law of Property Act (Chapter 61): Regulates the legal aspects of property transfer and real estate transactions

Singapore Civil Law Act: Provides the general framework for civil law matters including property transactions

Planning Act: Controls land use and development, including zoning regulations and property usage restrictions

Additional Buyer's Stamp Duty (ABSD): Tax regulation requiring additional stamp duty for certain categories of property buyers

Total Debt Servicing Ratio (TDSR): Financial framework limiting the portion of income that can go towards servicing all debts, including property loans

Seller's Stamp Duty (SSD): Tax regulation imposing stamp duty on sellers who dispose of properties within certain holding periods

Estate Developers (Control and Licensing) Act: Regulates private property development and sales, including developer licensing and project approvals

Contract Act (Chapter 53): Provides the legal framework for contract formation and enforcement in Singapore

Electronic Transactions Act: Governs the legal validity and use of electronic transactions and digital signatures 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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