The Sales Contract For House is a crucial legal document used in Singapore's property market to formalize residential property transactions. It ensures compliance with Singapore's strict property regulations and protects both buyers' and sellers' interests. The contract typically includes essential elements such as property details, purchase price, payment schedule, completion date, and various warranties. It must conform to Singapore's property laws, including foreign ownership restrictions, stamp duty requirements, and specific provisions for different property types (HDB, private property, etc.). This document is particularly important given Singapore's high-value property market and complex regulatory environment.
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1. Parties: Details of the seller and purchaser, including full legal names, identification numbers, and addresses
2. Background: Context of the sale and basic property details, including property type and transaction rationale
3. Definitions: Key terms used throughout the agreement, including defined terms for Property, Purchase Price, Completion Date, etc.
4. Property Description: Detailed description of the property being sold, including address, land area, floor area, and lot number
5. Purchase Price: Amount and payment terms, including deposit requirements and payment schedule
6. Completion: Terms and timing of completion, including conditions precedent and completion procedures
7. Title and Transfer: Provisions regarding property title transfer, including warranties of title and transfer procedures
8. Representations and Warranties: Seller's declarations about the property condition, encumbrances, and compliance with laws
1. Financing Conditions: Used when buyer requires mortgage financing, including loan approval conditions and timeframes
2. En Bloc Provisions: Provisions relating to potential collective sale scenarios and rights of parties
3. Tenancy Provisions: Provisions dealing with existing tenancy arrangements and handover conditions
4. Foreign Ownership Approval: Special conditions and requirements for foreign buyers under the Residential Property Act
1. Property Details Schedule: Detailed property specifications, floor plans, and boundary plans
2. Inventory List: Comprehensive list of fixtures, fittings, and furnishings included in the sale
3. Title Documents: Copies of title deeds, strata title (if applicable), and other relevant title documents
4. Payment Schedule: Detailed breakdown of payment milestones and amounts
5. Property Tax Certificate: Current property tax assessment and payment status
6. Maintenance Fee Schedule: Details of maintenance fees, sinking fund contributions, and other regular charges
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