The Real Estate Addendum is a crucial document in Singapore's property market, used when parties need to modify terms of an existing property agreement without creating an entirely new contract. It addresses changes in price, terms, conditions, or timelines while ensuring compliance with Singapore's strict property regulations. This document is particularly important given Singapore's dynamic real estate market and complex regulatory framework, requiring careful attention to both local property laws and international standards.
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1. Subject Property Details: Specific identification of the property being addressed in the addendum, including address, lot number, and title details
2. Reference to Original Agreement: Clear reference to the main agreement this addendum modifies, including date and parties involved
3. Modifications: Detailed description of changes or additions to the original agreement, clearly stating what is being modified
4. Effect on Original Agreement: Statement clarifying which original terms remain in effect and how this addendum relates to the original agreement
5. Execution: Signature blocks and execution requirements for all parties
1. Additional Terms: New terms specific to the situation necessitating the addendum, used when introducing completely new terms not covered in original agreement
2. Regulatory Compliance: Specific compliance requirements under Singapore law, including URA, SLA, or other regulatory body requirements
3. Timeline Modifications: Changes to original timeframes, completion dates, or other temporal aspects of the agreement
4. Price Adjustments: Modifications to original pricing, payment terms, or financial arrangements
1. Schedule A - Updated Property Plans: Modified floor plans, property boundaries, or architectural drawings if changes affect physical property aspects
2. Schedule B - Regulatory Approvals: Copies of relevant authority approvals, permits, or certifications
3. Schedule C - Payment Schedule: Modified payment terms, schedules, or financial arrangements if applicable
4. Schedule D - Property Specifications: Updated specifications, features, or modifications to the property
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