The Agreement For Purchase Of Flat With Builder is a crucial document in Singapore's property development sector, used when purchasing residential properties directly from developers. This agreement is particularly relevant for new developments or properties under construction, where the purchaser commits to buying before completion. It must comply with Singapore's strict regulatory framework, including the Housing Developers (Control and Licensing) Act and various URA guidelines. The document covers essential aspects such as payment schedules aligned with construction milestones, detailed property specifications, completion deadlines, defects liability periods, and vacant possession terms. It provides legal protection for both the developer and purchaser while ensuring transparency in the transaction.
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Key Requirements PROMPT example:
Agreement For Purchase Of Flat With Builder
"I need an Agreement For Purchase Of Flat With Builder for a 2-bedroom condominium unit in a new development project in Singapore, where construction will commence in March 2025, with specific provisions for customized kitchen fittings and extended warranty periods."
1. Parties: Identification of the Builder/Developer and Purchaser with full legal names and details
2. Background: Context of the agreement, including property details and development project information
3. Definitions: Key terms used throughout the agreement
4. Sale and Purchase: Core terms of the purchase including price and property details
5. Payment Terms: Schedule of payments, deposit requirements, and payment milestones
6. Construction and Completion: Timeline for construction, specifications, and completion obligations
7. Vacant Possession: Terms for handover of the property
8. Defects Liability: Builder's obligations regarding defects and warranty period
9. Title and Ownership: Legal ownership transfer conditions
10. Termination: Circumstances and procedures for contract termination
1. Maintenance Charges: Terms for maintenance fees and sinking fund (for developments with common facilities)
2. Car Park Provisions: Terms relating to car park lots (if parking spaces are included in the sale)
3. Modifications: Terms for buyer-requested modifications (if modifications to standard unit are permitted)
4. Financing Provisions: Special terms related to buyer financing (when specific financing arrangements are involved)
1. Schedule 1 - Property Details: Detailed description of the property including floor plan and specifications
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment milestones and amounts
3. Schedule 3 - Unit Specifications: Detailed specifications of materials and finishes
4. Schedule 4 - Common Facilities: List and description of common facilities in the development
5. Appendix A - Site Plan: Approved architectural drawings and site plans
6. Appendix B - Construction Timeline: Detailed construction schedule and milestones
7. Appendix C - Defects Reporting Procedure: Process for reporting and rectifying defects
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