Agreement Between Buyer And Seller Of Property for Singapore

Agreement Between Buyer And Seller Of Property Template for Singapore

A legally binding document governed by Singapore law that formalizes the sale and purchase of property between parties. It outlines the terms and conditions of the transaction, including property details, purchase price, payment terms, and completion requirements. The agreement complies with Singapore's property laws, including the Conveyancing and Law of Property Act, Land Titles Act, and relevant stamp duty regulations.

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What is a Agreement Between Buyer And Seller Of Property?

The Agreement Between Buyer And Seller Of Property is a crucial legal document used in Singapore real estate transactions. It serves as the primary contract establishing the terms and conditions of property transfer, including price, payment schedule, and completion requirements. This agreement is essential for both residential and commercial property transactions in Singapore, ensuring compliance with local property laws and regulations. It provides legal protection for both parties and serves as the basis for the property transfer process, including registration with the Singapore Land Authority.

What sections should be included in a Agreement Between Buyer And Seller Of Property?

1. Parties: Details of the buyer and seller, including full legal names and addresses

2. Background: Context of the sale and brief property description

3. Definitions: Key terms used throughout the agreement

4. Property Details: Full description of the property including address, title details, and boundaries

5. Purchase Price: Amount and payment terms, including deposit arrangements

6. Conditions Precedent: Conditions that must be satisfied before completion

7. Completion: Timeline, process and requirements for completion of sale

8. Seller's Warranties: Representations and warranties given by the seller regarding the property

9. Buyer's Warranties: Representations and warranties given by the buyer regarding capacity to purchase

10. Default and Termination: Consequences of breach and termination rights

11. General Provisions: Standard contractual provisions including notices, governing law, and dispute resolution

What sections are optional to include in a Agreement Between Buyer And Seller Of Property?

1. Financing Conditions: Terms related to mortgage financing and loan approval requirements

2. En Bloc Provisions: Specific terms for collective sales agreements

3. Tenancy Provisions: Terms regarding existing tenants and lease arrangements

4. GST Provisions: Special provisions regarding Goods and Services Tax if applicable

5. Foreign Ownership Provisions: Additional requirements if buyer is a foreign person or entity

What schedules should be included in a Agreement Between Buyer And Seller Of Property?

1. Schedule 1 - Property Details: Detailed property description, including floor plan and boundaries

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

3. Schedule 3 - Title Documents: Copies of relevant property ownership documents and searches

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

5. Schedule 5 - Completion Requirements: List of documents and items to be delivered at completion

Authors

Alex Denne

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

Cost

Free to use

Relevant legal definitions

Clauses

Relevant Industries

Real Estate
Property Development
Banking
Legal Services

Relevant Teams

Legal
Real Estate
Finance
Compliance
Property Management

Relevant Roles

Real Estate Agent
Property Manager
Conveyancing Lawyer
Property Developer
Mortgage Banker

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Unregistered Agreement To Sell With Possession

A Singapore-compliant agreement for property sale with immediate possession rights, pending final transfer.

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What is a Agreement Between Buyer And Seller Of Property?

What sections should be included in a Agreement Between Buyer And Seller Of Property?

What sections are optional to include in a Agreement Between Buyer And Seller Of Property?

What schedules should be included in a Agreement Between Buyer And Seller Of Property?

Authors

Alex Denne

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