The Cancellation Letter For House Purchase is a crucial document used in Singapore's property market when a buyer needs to withdraw from a property purchase commitment. It serves as official documentation of the buyer's intention to terminate the purchase agreement and typically outlines the circumstances leading to the cancellation, details of any deposits paid, and the proposed resolution regarding these payments. This document is particularly relevant in situations involving Option to Purchase (OTP) cancellations, failed financing arrangements, or other circumstances preventing the completion of the property transaction. The letter must comply with Singapore's property laws and may have different requirements depending on whether the property is private or HDB.
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1. Date and Address Block: Current date and recipient's complete address details
2. Property Details: Full description of the property including address and unit number
3. Reference to Original Agreement: Details of Option to Purchase or Sale and Purchase Agreement being cancelled
4. Reason for Cancellation: Clear statement of grounds for cancellation
5. Financial Implications: Statement regarding deposit, fees, and any refunds
6. Closing Statement: Formal request for acknowledgment and next steps
1. Legal Representative Details: Include if cancellation is being handled through lawyers
2. HDB Specific Details: Reference to HDB regulations and requirements for HDB properties
3. Stamp Duty Claims: Information about stamp duty refund process when applicable
1. Copy of Option to Purchase: Original agreement being cancelled
2. Payment Records: Proof of deposits or payments made
3. Supporting Documents: Any relevant documentation supporting the cancellation reason
Relevant legal definitions
Property
Option to Purchase
Sale and Purchase Agreement
Deposit
Booking Fee
Completion Date
Option Fee
Exercise Date
Purchaser
Vendor
Purchase Price
Option Exercise Period
Property Address
Cancellation Date
Stamp Duty
Additional Buyer's Stamp Duty (ABSD)
Estate Agent
Conveyancing Solicitor
Bank Loan
Housing Development Board (HDB)
Title Deed
Certificate of Title
Cooling-off Period
Working Day
Notice Period
Option to Purchase
Sale and Purchase Agreement
Deposit
Booking Fee
Completion Date
Option Fee
Exercise Date
Purchaser
Vendor
Purchase Price
Option Exercise Period
Property Address
Cancellation Date
Stamp Duty
Additional Buyer's Stamp Duty (ABSD)
Estate Agent
Conveyancing Solicitor
Bank Loan
Housing Development Board (HDB)
Title Deed
Certificate of Title
Cooling-off Period
Working Day
Notice Period
Clauses
Relevant Industries
Relevant Teams
Relevant Roles
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