Residential Real Estate Purchase Agreement

Residential Real Estate Purchase Agreement Template for Singapore

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Key Requirements PROMPT example:

"I need a Residential Real Estate Purchase Agreement for a Singapore condominium unit purchase, with completion scheduled for March 2025, including provisions for an existing tenant whose lease expires in June 2025."

Document background

The Residential Real Estate Purchase Agreement is a fundamental legal document used in Singapore property transactions. It is essential when transferring ownership of residential properties, whether private or public housing (HDB). The agreement ensures compliance with Singapore's strict property regulations, including foreign ownership restrictions, stamp duty requirements, and housing policies. It encompasses all crucial aspects of the transaction, from property details and purchase price to completion timeline and handover conditions. This document is particularly important given Singapore's unique property landscape and regulatory framework.

Suggested Sections

1. Parties: Identification and details of buyer and seller including full names, identification numbers, and addresses

2. Background: Context of the transaction and brief property details

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

4. Sale and Purchase: Core terms including purchase price, payment schedule, and deposit requirements

5. Property Details: Comprehensive description of the property including address, land area, floor area, and boundaries

6. Purchase Price and Payment Terms: Detailed breakdown of payment structure, timeline, and method of payment

7. Completion: Timeline, requirements, and process for completion of the sale

8. Title and Transfer: Provisions regarding property title transfer and seller's obligations

9. Representations and Warranties: Statements of fact and promises by both parties regarding the property and transaction

10. Taxes and Fees: Allocation of stamp duties, legal fees, and other transaction costs

11. Default and Termination: Consequences of breach and termination rights for both parties

12. General Provisions: Standard clauses including notices, governing law, and dispute resolution

Optional Sections

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

2. Tenancy Provisions: Terms relating to existing tenancies, if the property is currently leased

3. En Bloc Provisions: Provisions relating to potential collective sale scenarios

4. Property Management: Terms regarding maintenance fees, sinking fund, and management corporation matters for condominiums

5. HDB-Specific Provisions: Special terms applicable to HDB properties including ethnic quota and minimum occupation period

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property description including floor plan and boundaries

2. Schedule 2 - Inventory List: List of fixtures, fittings, and furnishings included in the sale

3. Schedule 3 - Payment Schedule: Detailed breakdown of payment milestones and amounts

4. Schedule 4 - Form of Transfer: Standard property transfer documentation

5. Schedule 5 - Title Documents: Copies of relevant title documents and certificates

6. Schedule 6 - Existing Tenancy Agreements: Copies of current tenant contracts if applicable

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
Compliance
Operations

Relevant Roles

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

Industries

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

Residential Property Act: Controls and regulates the purchase and ownership of private residential properties by foreign persons and entities in Singapore

Civil Law Act: Fundamental legislation governing contractual relationships and civil matters in Singapore

Conveyancing and Law of Property Act: Regulates the transfer of property rights and interests, and establishes legal framework for property transactions

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

Planning Act: Controls land use and property development in Singapore, including zoning regulations

HDB Rules and Regulations: Specific rules governing HDB property transactions, including eligibility criteria and resale procedures

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

SLA Requirements: Singapore Land Authority requirements for property boundaries, surveys, and land registration

CEA Guidelines: Council for Estate Agencies guidelines for property transactions and real estate agency practices

Stamp Duties Act: Governs stamp duty obligations including Buyer's Stamp Duty (BSD) and Additional Buyer's Stamp Duty (ABSD)

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

TDSR Framework: Total Debt Servicing Ratio framework set by MAS to ensure property buyers borrow within their means

LTV Limits: Loan-to-Value limits established by Monetary Authority of Singapore for property financing

Law Society's Conditions of Sale: Standard conditions of sale prescribed by the Singapore Law Society for property transactions

Conveyancing Practice Directions: Professional guidelines for lawyers handling property transactions in Singapore

Singapore Academy of Law Guidelines: Professional guidelines and best practices for legal practitioners in property transactions

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Let's create your Residential Real Estate Purchase Agreement

Authors

Alex Denne

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