The Contract To Sell House By Owner is essential for property owners in Singapore who choose to sell their residential property directly to buyers without engaging a real estate agent. This document ensures legal protection for both parties while complying with Singapore's strict property transaction regulations. It includes crucial elements such as property details, payment terms, conditions precedent, and warranties, while adhering to requirements under the Residential Property Act, Housing and Development Act (for HDB properties), and other relevant legislation. The contract is particularly relevant in situations where owners wish to maintain direct control over the sale process while minimizing transaction costs.
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1. Parties: Identification and details of the seller and buyer, including NRIC/Passport numbers and addresses
2. Background: Context of the sale, property ownership history, and reason for transaction
3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, etc.
4. Property Description: Detailed description of the property including address, land area, property type, and title details
5. Purchase Price: Agreed purchase price, payment schedule, and deposit arrangements
6. Title and Ownership: Confirmation of seller's right to sell and details of property title
7. Conditions Precedent: Conditions that must be fulfilled before completion
8. Completion: Timeline, process, and requirements for completion of sale
9. Seller's Warranties: Warranties regarding property condition, encumbrances, and compliance with laws
10. Property Handover: Conditions and process for physical handover of the property
11. Taxes and Costs: Allocation of stamp duty, legal fees, and other transaction costs
12. Default and Termination: Consequences of default and termination rights
1. Financing Conditions: Terms related to buyer's financing arrangements and mortgage requirements
2. Tenant Provisions: Details of existing tenancy and handover arrangements if property is tenanted
3. Renovation Works: Provisions regarding ongoing or planned renovation works
4. Property Management: Details of management corporation and maintenance fees for condominiums
5. Foreign Ownership: Additional provisions if buyer is a foreign person under Residential Property Act
1. Schedule 1 - Property Details: Detailed property information including floor plan and land title particulars
2. Schedule 2 - Inventory List: List of fixtures, fittings, and furniture included in the sale
3. Schedule 3 - Payment Schedule: Detailed breakdown of payment milestones and amounts
4. Schedule 4 - Title Documents: Copies of title deeds and other relevant property documents
5. Schedule 5 - Property Tax and Maintenance Fees: Current property tax assessment and maintenance fee schedule
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