The Building Purchase Agreement is essential for any transaction involving the sale of building property in Singapore. This document is used when parties wish to formalize the purchase and sale of commercial, industrial, or residential buildings, ensuring compliance with Singapore's property laws and regulations. The agreement includes detailed provisions about the property, price, payment terms, warranties, and completion requirements. It must conform to Singapore's strict property ownership rules, especially regarding foreign ownership under the Residential Property Act. The document serves as the primary contract governing the relationship between buyer and seller throughout the property transfer process.
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1. Parties: Identification of buyer and seller with full legal details
2. Background: Context of the sale and brief property description
3. Definitions: Key terms used throughout the agreement
4. Property Details: Comprehensive description of the property being sold
5. Purchase Price: Price and payment terms including deposit arrangements
6. Completion: Timeline and conditions for completion of sale
7. Title and Transfer: Provisions regarding property title transfer
8. Representations and Warranties: Seller's declarations about property condition and ownership
9. Termination: Conditions under which agreement can be terminated
1. Foreign Ownership Compliance: Required section when buyer is non-Singaporean, detailing compliance with Residential Property Act requirements
2. Tenancy Provisions: Section detailing existing tenancies and their treatment post-sale
3. Mortgage Details: Section covering existing mortgages and their discharge requirements
1. Schedule 1: Property Floor Plan: Detailed floor plan and measurements of the property
2. Schedule 2: Title Documents: Copies of relevant title documents and certificates
3. Schedule 3: Inventory List: Comprehensive list of fixtures and fittings included in the sale
4. Schedule 4: Property Tax Statements: Recent property tax assessments and payment records
5. Schedule 5: Building Inspection Report: Technical assessment of building condition and compliance
6. Schedule 6: Regulatory Approvals: Copies of relevant permits, certificates and regulatory approvals
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