The Real Estate Buyout Agreement is essential for property transactions in Singapore's regulated real estate market. It's used when one party wishes to purchase property from another, whether for residential, commercial, or investment purposes. The agreement must comply with Singapore's strict property regulations, including foreign ownership restrictions, stamp duty requirements, and property registration procedures. It typically includes comprehensive details about the property, payment terms, conditions precedent, and completion requirements. This document is particularly important given Singapore's unique property laws and high-value real estate market.
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1. Parties: Identification and details of buyer and seller
2. Background: Context of the transaction and property details
3. Definitions: Key terms used throughout the agreement
4. Property Description: Detailed description of the property being sold
5. Purchase Price: Amount and payment terms
6. Completion: Timeline and conditions for completion
7. Representations and Warranties: Statements of fact by both parties
8. Termination: Conditions for contract termination
1. Tenant Rights: Required if property is currently tenanted - includes provisions for existing tenant agreements and rights
2. Renovation Works: Details of ongoing or planned renovations - includes completion timelines and responsibilities
3. Foreign Ownership Approval: Requirements and conditions for foreign buyer approval under Singapore law
1. Property Floor Plan: Detailed floor plan and measurements of the property
2. Title Documents: Copies of relevant title documents and certificates
3. Inventory List: Comprehensive list of fixtures and fittings included in the sale
4. Condition Report: Detailed report on the current condition of the property
5. Due Diligence Documents: Property searches, regulatory approvals, and other relevant documentation
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