The Home For Sale By Owner Contract is utilized when property owners in Singapore choose to sell their property directly to buyers without engaging real estate agents. This approach can reduce transaction costs but requires careful attention to legal compliance and documentation. The contract must adhere to Singapore's strict property laws and regulations, including HDB rules for public housing, stamp duty requirements, and foreign ownership restrictions where applicable. It should comprehensively cover all aspects of the property transaction, from payment terms to property handover conditions, while protecting both parties' interests under Singapore law.
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Key Requirements PROMPT example:
Home For Sale By Owner Contract
"I need a Home For Sale By Owner Contract for selling my 3-bedroom HDB flat in Singapore, with completion set for March 2025 and including special provisions for existing tenant arrangements and a list of built-in appliances that will be included in the sale."
1. Parties: Details of the seller and buyer, including full legal names and identification
2. Background: Context of the sale and property details
3. Definitions: Key terms used throughout the contract
4. Property Description: Detailed description of the property including address, lot number, and specifications
5. Purchase Price: Agreed price and payment terms
6. Payment Schedule: Breakdown of payment installments and timing
7. Completion Date: Timeline for transaction completion
8. Representations and Warranties: Seller's declarations about property condition and ownership
1. Fixtures and Fittings: List of items included/excluded in sale - use when specific items need to be clarified as included or excluded
2. Mortgage Contingency: Conditions related to buyer's financing - use when buyer requires mortgage financing
3. Property Inspection: Terms for property inspection - use when buyer requests inspection period
4. Tenant Rights: Existing tenant arrangements - use when property is currently tenanted
1. Schedule 1 - Property Details: Detailed property specifications and floor plans
2. Schedule 2 - Inventory List: List of fixtures and fittings included in sale
3. Schedule 3 - Payment Schedule: Detailed breakdown of payment terms
4. Appendix A - Property Title Documents: Copies of relevant title documents
5. Appendix B - Property Condition Report: Current condition assessment of property
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