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Real Estate Sales Agreement

Real Estate Sales Agreement Template for Singapore

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Key Requirements PROMPT example:

Real Estate Sales Agreement

"I need a Real Estate Sales Agreement for the sale of a freehold commercial property in Singapore's Central Business District, with a completion date of March 15, 2025, and special provisions for existing tenant agreements that need to be transferred to the new owner."

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What is a Real Estate Sales Agreement?

The Real Estate Sales Agreement is a crucial legal document used in Singapore property transactions to formalize the transfer of real estate ownership. It serves as the primary contract between parties, incorporating all essential terms and conditions required under Singapore law. This agreement is necessary whenever real property is bought or sold, whether residential, commercial, or industrial. It must comply with Singapore's strict property regulations, including foreign ownership restrictions, stamp duty requirements, and specific HDB rules where applicable. The document typically follows the option to purchase (OTP) and includes detailed provisions about the property, payment terms, completion requirements, and parties' obligations.

What sections should be included in a Real Estate Sales Agreement?

1. Parties: Identification and details of the seller and purchaser

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 including location, boundaries, and type

5. Purchase Price: Amount and payment terms including deposit, balance payment structure, and method of payment

6. Completion: Terms and timing of completion, including completion date and requirements

7. Title and Transfer: Provisions regarding property title transfer and registration requirements

8. Representations and Warranties: Seller's and buyer's warranties about the property and transaction

What sections are optional to include in a Real Estate Sales Agreement?

1. Conditions Precedent: Used when completion is subject to certain conditions such as regulatory approvals or financing

2. Tenant Provisions: Details about existing tenancies and handling of rental deposits when property is sold with existing tenants

3. Foreign Ownership: Additional provisions and requirements for foreign buyers including approval requirements

What schedules should be included in a Real Estate Sales Agreement?

1. Property Schedule: Detailed property specifications, included fixtures, and fittings

2. Title Documents: Copies of relevant title documents and land registry information

3. Inventory List: Comprehensive list of included furnishings and fittings if applicable

4. Payment Schedule: Detailed breakdown of payment timeline and installments

5. Property Plans: Floor plans, property boundaries, and relevant architectural drawings

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok成人版 | 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



































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Industries

Civil Law Act (Cap. 43): Primary legislation governing contractual relationships and civil matters in Singapore, providing the fundamental legal framework for real estate transactions

Residential Property Act (Cap. 274): Regulates the purchase and ownership of residential properties by foreign persons in Singapore, including restrictions and approval requirements

Housing and Development Act (Cap. 129): Governs public housing (HDB) transactions, including eligibility criteria, resale procedures, and restrictions on ownership and transfer

Conveyancing and Law of Property Act (Cap. 61): Regulates the transfer of property rights and interests, including requirements for property conveyancing and legal formalities

Land Titles Act (Cap. 157): Establishes the land titles system in Singapore, governing property registration and title transfers

Sale of Goods Act (Cap. 393): Provides legal framework for sale transactions, although primarily focused on goods, some principles apply to property transactions

SLA Regulations: Singapore Land Authority regulations governing land ownership, registration, and administration

CEA Guidelines: Council for Estate Agencies guidelines regulating real estate agency practice and professional conduct

URA Guidelines: Urban Redevelopment Authority guidelines on property development, zoning, and land use

Stamp Duties Act: Governs various property-related duties including Buyer's Stamp Duty (BSD), Additional Buyer's Stamp Duty (ABSD), and Seller's Stamp Duty (SSD)

Option to Purchase (OTP) Rules: Regulations governing the option to purchase process, including validity period and exercise procedures

Property Cooling Measures: Government interventions to maintain property market stability, including lending limits and stamp duty adjustments

Foreign Ownership Restrictions: Regulations limiting or restricting foreign ownership of certain types of properties in Singapore

Anti-Money Laundering Requirements: Due diligence and reporting obligations for property transactions to prevent money laundering

Conservation Status Requirements: Special regulations and restrictions applying to properties with conservation status or historical significance

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