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Agreement Of Purchase And Sale Condominium

Agreement Of Purchase And Sale Condominium Template for Singapore

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Agreement Of Purchase And Sale Condominium

"I need an Agreement Of Purchase And Sale Condominium for a 3-bedroom unit in Singapore that I'm buying from a foreign seller, with completion scheduled for March 2025, and I need specific provisions for renovation works that will be completed before handover."

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What is a Agreement Of Purchase And Sale Condominium?

The Agreement Of Purchase And Sale Condominium is a crucial document in Singapore real estate transactions, used when transferring ownership of condominium units. It ensures compliance with Singapore's strict property regulations and protects both buyers' and sellers' interests. The agreement includes essential details such as property specifications, payment terms, completion timeline, and warranties. It's particularly important given Singapore's unique property laws, including restrictions on foreign ownership and specific requirements for strata-titled properties. The document must conform to requirements set by the Singapore Land Authority and other relevant regulatory bodies.

What sections should be included in a Agreement Of Purchase And Sale Condominium?

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

2. Background: Context of the sale and basic property information

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the condominium unit and included fixtures

5. Purchase Price: Amount and payment terms

6. Completion Date: Timeline for closing the transaction

7. Title and Transfer: Provisions regarding clean title transfer

8. Representations and Warranties: Standard declarations by both parties

What sections are optional to include in a Agreement Of Purchase And Sale Condominium?

1. Financing Conditions: Used when buyer requires mortgage financing - applicable when purchase is subject to obtaining financing

2. Foreign Ownership Approval: Requirements for foreign buyers - applicable when buyer is not a Singapore citizen/PR

3. En Bloc Sale Provisions: Addresses collective sale scenarios - applicable when property might be subject to en bloc sale

What schedules should be included in a Agreement Of Purchase And Sale Condominium?

1. Property Floor Plan: Detailed unit floor plan and measurements

2. Inventory List: List of included fixtures and fittings

3. Strata Title Details: Share value and common property rights

4. Payment Schedule: Detailed breakdown of payment installments

5. Property Title Search: Official title search results

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co
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Industries

Building Maintenance and Strata Management Act (BMSMA): Primary legislation governing the management of strata properties, defining common property rights and outlining management corporation responsibilities

Housing Developers (Control and Licensing) Act: Regulates housing developers, prescribes mandatory contract terms, and protects buyers' interests in property transactions

Land Titles (Strata) Act: Addresses strata title registration, defines unit boundaries, and governs share value allocation in strata properties

Residential Property Act: Controls and restricts foreign ownership of residential properties, sets conditions for foreign purchases, and outlines approval requirements

Planning Act: Establishes zoning requirements, property use restrictions, and development guidelines for properties

Sale of Goods Act: Provides general contract principles and property transfer rules applicable to property transactions

Conveyancing and Law of Property Act: Outlines property transfer procedures and legal requirements for property transactions

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

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, 聽Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination, 聽Severance Pay, Governing Law, Entire Agreemen

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