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Residential Sales Contract Template for Singapore

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Key Requirements PROMPT example:

Residential Sales Contract

"I need a Residential Sales Contract for a Singapore HDB flat purchase, where I'm buying from a foreign seller who needs to complete the sale by March 2025, and the contract needs to include specific provisions about existing tenant rights and early vacant possession."

Document background
The Residential Sales Contract is a fundamental legal document used in Singapore's property market for the sale and purchase of residential properties. It serves as the primary agreement between buyers and sellers, incorporating all essential terms and conditions required under Singapore law. This contract type is crucial for protecting both parties' interests and ensuring compliance with Singapore's stringent property regulations, including foreign ownership restrictions, stamp duty requirements, and property transfer procedures. The document includes detailed property specifications, payment terms, completion requirements, and various warranties and representations required for property transactions in Singapore.
Suggested Sections

1. Parties: Identification of buyer and seller with full legal details

2. Background: Context of the sale and property background

3. Definitions: Key terms used throughout the contract

4. Property Details: Comprehensive description of the property being sold

5. Purchase Price: Amount and payment terms

6. Completion: Timeline and conditions for completion

7. Title and Transfer: Warranty of title and transfer conditions

Optional Sections

1. Mortgage Conditions: Additional terms and conditions when the purchase involves bank financing

2. Foreign Ownership Declaration: Required approvals and declarations for non-Singaporean buyers

3. En Bloc Sale Conditions: Special conditions applicable for properties under collective sale

Suggested Schedules

1. Property Floor Plan: Detailed floor plan with measurements

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

3. Title Search: Official property title search results

4. Payment Schedule: Detailed breakdown of payment timeline

5. Property Tax Certificate: Current property tax assessment

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

Housing and Development Act (Chapter 129): Primary legislation governing HDB properties, including regulations on ownership and transfer, and eligibility conditions for buyers

Residential Property Act (Chapter 274): Legislation controlling foreign ownership of residential property, including restrictions and requirements for foreign buyers and land ownership rules

Sale of Goods Act (Chapter 393): Establishes general contract principles and terms and conditions of sale applicable to property transactions

Conveyancing and Law of Property Act (Chapter 61): Outlines legal requirements for property transfer and defines rights and obligations in property transactions

Stamp Duties Act (Chapter 312): Governs various property-related duties including Buyer's Stamp Duty (BSD), Additional Buyer's Stamp Duty (ABSD), and Seller's Stamp Duty (SSD)

Planning Act (Chapter 232): Covers zoning requirements and property use restrictions in Singapore

Building Control Act (Chapter 29): Regulates building safety and structural requirements for residential properties

COVID-19 (Temporary Measures) Act 2020: Addresses implications on property transactions during COVID-19 period and force majeure considerations

Singapore Land Authority Guidelines: Regulatory requirements set by SLA for property transactions and land matters

Council for Estate Agencies Guidelines: Professional guidelines and regulations for property transactions and real estate agencies

MAS Mortgage Regulations: Monetary Authority of Singapore's regulations governing mortgage loans and financing for residential properties

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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