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Real Estate Sales Contract Template for Singapore

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Key Requirements PROMPT example:

Real Estate Sales Contract

"I need a Real Estate Sales Contract for a freehold condominium unit in Singapore, where the seller is a foreign company and the buyer is a local resident, with completion scheduled for March 2025. The contract needs to include specific provisions for the release of an existing tenant."

Document background
The Real Estate Sales Contract is a fundamental legal document used in Singapore property transactions. It serves as the primary agreement between property sellers and buyers, outlining all essential terms of the sale including property details, price, payment schedule, and completion timeline. This contract must comply with Singapore's property laws, including the Residential Property Act and Housing Development Act, and often requires professional legal assistance for proper execution. The document is particularly important given Singapore's strict property regulations and high-value real estate market.
Suggested Sections

1. Parties: Details of seller and purchaser, including full legal names and addresses

2. Background: Context of the sale and property details

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the property including address, lot number, and strata title details

5. Purchase Price: Amount and payment terms

6. Completion Date: Timeline for completion of sale

7. Title and Ownership: Warranties regarding clear title and ownership

8. Seller's Obligations: Responsibilities and warranties of the seller

9. Purchaser's Obligations: Responsibilities and obligations of the purchaser

Optional Sections

1. Condition of Property: Specific details about property condition, used when selling property as-is

2. Tenancy: Details of existing tenancy arrangements when property is sold with sitting tenants

3. Renovation Works: Details of ongoing or planned renovation works that affect the sale

Suggested Schedules

1. Property Details Schedule: Detailed property specifications, floor plans, and boundaries

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

3. Title Documents: Copies of relevant title documents

4. Payment Schedule: Detailed breakdown of payment terms and milestones

5. Existing Tenancy Documents: Copies of tenancy agreements if applicable

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

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Industries

Civil Law Act (Cap. 43): Primary legislation governing civil law matters and contracts in Singapore, providing the fundamental legal framework for property transactions

Residential Property Act (Cap. 274): Regulates the purchase of residential properties by foreign persons and entities in Singapore

Housing and Development Act (Cap. 129): Governs public housing (HDB) transactions and related matters in Singapore

Land Titles Act (Cap. 157): Regulates the registration and transfer of land titles in Singapore, ensuring secure property ownership

Sale of Goods Act (Cap. 393): Provides legal framework for sale transactions, though primarily focused on movable property

Conveyancing and Law of Property Act (Cap. 61): Governs the transfer of property rights and interests in Singapore real estate

Executive Condominium Housing Scheme Act: Specific legislation governing Executive Condominiums, a hybrid of public and private housing

Planning Act (Cap. 232): Controls land use and property development in Singapore

Property Tax Act (Cap. 254): Governs the taxation of properties in Singapore

Stamp Duties Act (Cap. 312): Regulates stamp duties including ABSD (Additional Buyer's Stamp Duty) and SSD (Seller's Stamp Duty)

COVID-19 (Temporary Measures) Act 2020: Temporary legislation affecting property transactions during the pandemic period

CEA Guidelines: Regulatory guidelines from the Council for Estate Agencies governing real estate transactions

MAS Regulations: Monetary Authority of Singapore regulations regarding property financing and loans

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

SLA Requirements: Singapore Land Authority requirements for property ownership and transfer

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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