The Commercial Real Estate Purchase Agreement serves as the primary document for commercial property transactions in Singapore. It is essential when purchasing or selling any commercial real estate, including office buildings, retail spaces, industrial properties, or mixed-use developments. The agreement ensures compliance with Singapore's strict property laws and regulations, including stamp duty requirements, GST considerations, and foreign ownership restrictions. It typically includes detailed property descriptions, payment terms, conditions precedent, warranties, and completion requirements. This document is crucial for protecting both parties' interests and ensuring a smooth property transfer process.
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1. Parties: Identification and details of the buyer and seller
2. Background: Context and purpose of the transaction
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property including address and lot number
5. Purchase Price: Amount and payment terms
6. Completion: Timeline and conditions for completing the transaction
7. Title and Transfer: Provisions regarding clean title and transfer process
8. Representations and Warranties: Standard assurances from both parties
1. Due Diligence: Terms for property inspection and verification when buyer requires specific inspection rights
2. Financing Contingency: Conditions related to buyer's financing when purchase depends on securing financing
3. Tenant Rights: Existing lease agreements and tenant obligations when property has existing tenants
4. Environmental Matters: Environmental compliance and responsibilities for industrial or potentially contaminated properties
1. Property Plans: Floor plans and site maps
2. Title Documents: Copies of title deeds and certificates
3. Existing Tenancies: List of current tenants and lease agreements
4. Property Inventory: List of fixtures and fittings included in sale
5. Due Diligence Reports: Technical and legal inspection reports
6. Regulatory Approvals: Copies of relevant permits and certificates
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