Real Estate Buy And Sell Agreement Template for Singapore

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Key Requirements PROMPT example:

Real Estate Buy And Sell Agreement

"I need a Real Estate Buy And Sell Agreement for a private condominium unit in Singapore, where the buyer is a foreign corporation and completion is expected by March 2025; the agreement should include specific provisions for foreign ownership approval and corporate buyer requirements."

What is a Real Estate Buy And Sell Agreement?

The Real Estate Buy And Sell Agreement is a fundamental document in Singapore property transactions, essential for both residential and commercial property transfers. It serves as the primary contract documenting the sale terms, buyer and seller obligations, and compliance with Singapore's strict property regulations. This agreement is particularly important given Singapore's unique property landscape, including restrictions on foreign ownership, HDB regulations, and various stamp duty requirements. It provides legal protection for both parties and ensures the transaction meets all regulatory requirements under Singapore law.

What sections should be included in a Real Estate Buy And Sell Agreement?

1. Parties: Identifies and details the buyer and seller including their full legal names, identification numbers, and addresses

2. Background: Context of the transaction, property overview, and intention of the parties to enter into the sale and purchase

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, floor area, and title details

5. Purchase Price: Purchase price, payment structure, deposit requirements, and payment methods

6. Conditions Precedent: Conditions that must be fulfilled before completion including legal requisitions and title searches

7. Completion: Terms and timeline for completion, including completion date, venue, and documentation requirements

8. Seller's Warranties: Representations and warranties about the property's condition, ownership, and encumbrances

9. Buyer's Warranties: Representations and warranties about the buyer's capacity to purchase and financial ability

10. Default Provisions: Consequences and remedies in case of default by either party

11. Miscellaneous: Standard provisions including notices, entire agreement, governing law, and dispute resolution

What sections are optional to include in a Real Estate Buy And Sell Agreement?

1. HDB Compliance: Additional terms and requirements specific to HDB properties including ethnic quota and eligibility conditions

2. Foreign Ownership: Additional requirements and warranties for foreign buyers including Land Dealings Approval Unit clearance

3. Existing Tenancy: Provisions relating to existing tenancy arrangements including assignment or termination of lease

4. Mortgage Discharge: Terms for discharge of existing mortgage and coordination with financial institutions

5. GST Provisions: Special provisions if the property sale is subject to Goods and Services Tax

What schedules should be included in a Real Estate Buy And Sell Agreement?

1. Schedule 1 - Property Details: Detailed property specifications, floor plans, and boundaries

2. Schedule 2 - Inventory List: Comprehensive list of fixtures, fittings, and furnishings included in the sale

3. Schedule 3 - Payment Schedule: Detailed breakdown of payment terms, amounts, and due dates

4. Schedule 4 - Title Documents: Copies of title documents, strata title (if applicable), and other relevant certificates

5. Schedule 5 - Outstanding Property Tax and Utility Bills: List of outstanding charges and apportionment details

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate
Banking
Legal Services
Property Development

Relevant Teams

Legal
Real Estate
Finance
Compliance
Property Management

Relevant Roles

Real Estate Agent
Property Lawyer
Property Manager
Bank Manager
Compliance Officer
Legal Counsel
Real Estate Director
Conveyancing Manager

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Let's create your Real Estate Buy And Sell Agreement

What is a Real Estate Buy And Sell Agreement?

What sections should be included in a Real Estate Buy And Sell Agreement?

What sections are optional to include in a Real Estate Buy And Sell Agreement?

What schedules should be included in a Real Estate Buy And Sell Agreement?

Authors

Alex Denne

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