The Real Estate Agreement Contract is a fundamental document used in Singapore property transactions to formalize the sale and purchase of real estate. This agreement is essential for both residential and commercial property transactions, incorporating Singapore's unique legal requirements such as restrictions on foreign ownership, HDB regulations, and various stamp duties. The contract provides a comprehensive framework detailing property specifications, payment terms, completion timelines, and obligations of all parties involved. It serves as the primary legal instrument ensuring the proper transfer of property ownership while protecting the interests of both vendors and purchasers under Singapore law.
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Key Requirements PROMPT example:
Real Estate Agreement Contract
"I need a Real Estate Agreement Contract for the sale of a commercial property in Singapore's Central Business District, with specific provisions for existing tenants and an agreed completion date of March 15, 2025."
1. Parties: Details of the vendor and purchaser, including full legal names and addresses
2. Background: Context of the transaction and property details including nature of the property and transaction
3. Definitions: Key terms used throughout the agreement including defined legal and technical terms
4. Property Details: Comprehensive description of the property including address, lot number, size, and boundaries
5. Purchase Price: Agreed purchase price, payment terms, and deposit requirements
6. Completion: Timeline and conditions for completion of sale, including completion date and procedures
7. Title and Transfer: Conditions regarding property title, transfer process, and warranties of title
8. Representations and Warranties: Statements of fact and promises by both parties regarding the property and transaction
1. Financing Conditions: Terms related to mortgage financing and loan approval conditions
2. En Bloc Provisions: Terms related to collective sale possibilities and procedures
3. Tenancy Provisions: Terms regarding existing tenants and handling of ongoing tenancies
4. Foreign Ownership Conditions: Special conditions and requirements for foreign buyers under Singapore law
1. Property Schedule: Detailed property specifications, floor plans, and boundaries
2. Inventory List: Comprehensive list of fixtures, fittings, and items included in the sale
3. Title Documents: Copies of relevant title documents and certifications
4. Payment Schedule: Detailed breakdown of payment terms, timelines, and installment details
5. Approved Plans: Building plans, approvals, and permits relevant to the property
6. Due Diligence Results: Results of property searches, investigations, and legal checks
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