The Residential Real Estate Purchase Contract is a fundamental legal document used in Singapore's property market for transferring residential property ownership. It ensures compliance with Singapore's strict property regulations, including foreign ownership restrictions, stamp duty requirements, and specific rules for different property types (private or HDB). The contract covers essential elements such as property details, price, payment terms, warranties, and completion requirements, while incorporating necessary protections for both buyers and sellers. It's particularly important given Singapore's unique property landscape and regulatory framework, which includes considerations such as the Residential Property Act, Housing Development Act, and various stamp duty regimes.
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1. Parties: Details of buyer and seller, including identification and contact information
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 including address, lot number, and boundaries
5. Purchase Price: Agreed price and payment terms including deposit requirements
6. Completion: Timeline and conditions for completion of sale
7. Title and Transfer: Provisions regarding clean title and transfer process
8. Representations and Warranties: Standard warranties by both parties
9. Default Provisions: Consequences of default by either party
1. Foreign Ownership Provisions: Required when buyer is foreign - includes compliance with Residential Property Act requirements
2. HDB-Specific Requirements: Special conditions and eligibility requirements for HDB properties
3. Tenancy Provisions: Details of existing tenancy and handover conditions if property is currently tenanted
4. En Bloc Sale Provisions: Special conditions and requirements for collective sales
1. Property Schedule: Detailed property specifications, floor plans, and boundaries
2. Inventory List: List of fixtures and fittings included in sale
3. Payment Schedule: Detailed breakdown of payment milestones
4. Title Documents: Copies of relevant title documents
5. Property Tax Documentation: Current property tax assessments
6. Maintenance Fee Schedule: Details of maintenance fees for condominiums
7. Existing Tenancy Documents: If applicable, current tenancy agreements
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