The Commercial Real Estate Sales Contract is essential for any transaction involving commercial property in Singapore. This document is used when parties wish to formalize the sale and purchase of commercial real estate, whether it's office space, retail property, industrial facilities, or mixed-use developments. It provides comprehensive coverage of all aspects of the transaction, including property specifications, payment terms, conditions precedent, and completion requirements. The contract ensures compliance with Singapore's strict property laws and regulations, including stamp duty requirements, foreign ownership restrictions, and land use conditions. It serves as the primary document governing the rights and obligations of both parties throughout the transaction process.
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Key Requirements PROMPT example:
Commercial Real Estate Sales Contract
"I need a Commercial Real Estate Sales Contract for the purchase of a 50,000 square foot industrial warehouse in Singapore's Jurong area, with completion planned for March 2025 and including provisions for existing tenant transfers."
1. Parties: Identification and details of the seller and purchaser, including registration numbers for companies and identification for individuals
2. Background: Context of the transaction, property history, and current status
3. Definitions: Key terms used throughout the agreement, including legal and technical terminology
4. Property Description: Detailed description of the property including address, land area, tenure, and permitted use
5. Purchase Price: Agreement on price, payment terms, deposits, and payment schedule
6. Conditions Precedent: Conditions that must be satisfied before completion of the sale
7. Seller's Warranties: Representations and warranties regarding the property's condition, title, and compliance
8. Completion: Terms and conditions for completion of sale, including timing and procedures
9. Post-Completion Obligations: Obligations of parties after completion, including handover procedures
10. Termination: Circumstances under which the agreement may be terminated and consequences
11. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction for disputes
1. Tenancies: Details of existing tenancies, assignment of rental deposits, and tenant obligations
2. Property Management: Transitional arrangements for property management and existing contracts
3. Environmental Matters: Environmental compliance, hazardous materials, and remediation obligations
4. Tax Matters: Specific provisions regarding GST, stamp duty, and other applicable taxes
5. Due Diligence: Provisions for buyer's due diligence period and requirements
1. Property Plans: Detailed floor plans, site maps, and boundary plans
2. Title Documents: Copies of title deeds, certificates, and encumbrances
3. Inventory: List of fixtures, fittings, and equipment included in the sale
4. Existing Tenancy Agreements: Copies of current tenant contracts and amendments
5. Property Certificates: Relevant certificates including TOP, CSC, and fire safety certificates
6. Form of Transfer: Standard form for transfer of property ownership
7. Regulatory Approvals: Copies of planning permissions and other regulatory approvals
Authors
Relevant legal definitions
Agreement
Business Day
Completion
Completion Date
Deposit
Encumbrances
Land
Property
Purchase Price
Seller's Solicitors
Purchaser's Solicitors
Title Documents
Working Day
Permitted Use
Building
Fixtures and Fittings
GST
Land Area
Material Damage
Outstanding Property Tax
Planning Permission
Relevant Authority
Security Interest
Stamp Duty
Strata Title
Tenancies
Title Documents
URA
Vacant Possession
Valuation
Warranties
Zoning Requirements
Certificate of Title
Lease Agreement
Management Corporation
Share Value
Strata Lot
Common Property
Building Plans
Maintenance Charges
Business Day
Completion
Completion Date
Deposit
Encumbrances
Land
Property
Purchase Price
Seller's Solicitors
Purchaser's Solicitors
Title Documents
Working Day
Permitted Use
Building
Fixtures and Fittings
GST
Land Area
Material Damage
Outstanding Property Tax
Planning Permission
Relevant Authority
Security Interest
Stamp Duty
Strata Title
Tenancies
Title Documents
URA
Vacant Possession
Valuation
Warranties
Zoning Requirements
Certificate of Title
Lease Agreement
Management Corporation
Share Value
Strata Lot
Common Property
Building Plans
Maintenance Charges
Clauses
Sale and Purchase
Property Description
Purchase Price
Payment Terms
Deposit
Conditions Precedent
Due Diligence
Title and Ownership
Warranties and Representations
Completion
Vacant Possession
Property Inspection
Risk and Insurance
Existing Tenancies
Property Tax
Stamp Duty
GST
Encumbrances
Planning and Zoning
Environmental Compliance
Building Condition
Assignments and Transfers
Default and Termination
Force Majeure
Notices
Costs and Expenses
Governing Law
Dispute Resolution
Confidentiality
Entire Agreement
Severability
Time of Essence
Further Assurance
Amendment and Variation
Strata Title Provisions
Property Management
Asset Handover
Indemnification
Property Description
Purchase Price
Payment Terms
Deposit
Conditions Precedent
Due Diligence
Title and Ownership
Warranties and Representations
Completion
Vacant Possession
Property Inspection
Risk and Insurance
Existing Tenancies
Property Tax
Stamp Duty
GST
Encumbrances
Planning and Zoning
Environmental Compliance
Building Condition
Assignments and Transfers
Default and Termination
Force Majeure
Notices
Costs and Expenses
Governing Law
Dispute Resolution
Confidentiality
Entire Agreement
Severability
Time of Essence
Further Assurance
Amendment and Variation
Strata Title Provisions
Property Management
Asset Handover
Indemnification
Relevant Industries
Relevant Teams
Relevant Roles
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