Agreement For Sale And Purchase With Plan for Singapore

Agreement For Sale And Purchase With Plan Template for Singapore

A legally binding document governed by Singapore law that outlines the terms and conditions for the sale and purchase of property based on plans, typically used for off-plan or under-construction properties. The agreement includes detailed specifications, development plans, payment schedules, and completion timelines, while ensuring compliance with Singapore's property laws and regulations.

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What is a Agreement For Sale And Purchase With Plan?

The Agreement For Sale And Purchase With Plan is a crucial document in Singapore's property market, particularly for new developments and off-plan purchases. It provides a comprehensive framework for transactions where the property is yet to be completed or is under construction. The agreement incorporates detailed plans, specifications, and development schedules, ensuring both parties' interests are protected under Singapore law. It addresses key aspects such as payment terms, construction timelines, defect liability periods, and completion requirements, while complying with regulations set by authorities like the Urban Redevelopment Authority (URA) and Building and Construction Authority (BCA).

What sections should be included in a Agreement For Sale And Purchase With Plan?

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 property including boundaries and measurements

5. Purchase Price: Amount and payment terms

6. Completion: Terms and timing of completion

7. Title and Transfer: Provisions regarding transfer of title

What sections are optional to include in a Agreement For Sale And Purchase With Plan?

1. Conditions Precedent: Optional section for specific prerequisites that must be met before completion

2. Development Obligations: Optional section detailing developer's obligations regarding construction when property is under development

3. Defects Liability: Optional section covering terms regarding defects and repairs for new properties

What schedules should be included in a Agreement For Sale And Purchase With Plan?

1. Property Plans: Detailed architectural and location plans

2. Payment Schedule: Breakdown of payment installments

3. Specifications: Detailed specifications of property and fittings

4. Title Documents: Copies of relevant title documents

5. Planning Permissions: Relevant planning and building approvals

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 Development
Construction
Property Investment
Urban Planning

Relevant Teams

Legal
Real Estate
Development
Finance
Operations
Compliance
Construction

Relevant Roles

Property Developer
Real Estate Manager
Construction Manager
Legal Counsel
Project Manager
Contract Manager
Property Lawyer
Development Director

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What is a Agreement For Sale And Purchase With Plan?

What sections should be included in a Agreement For Sale And Purchase With Plan?

What sections are optional to include in a Agreement For Sale And Purchase With Plan?

What schedules should be included in a Agreement For Sale And Purchase With Plan?

Authors

Alex Denne

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