Document background
The Holding Deposit Contract serves as a crucial instrument in Singapore's property transaction process, providing security to both buyers and sellers during the preliminary stages of property purchase. This document is typically used when a potential buyer wishes to secure their interest in a property while conducting necessary due diligence, obtaining financing approval, or completing other pre-purchase requirements. The contract specifies the deposit amount, typically 1-5% of the purchase price, and outlines clear conditions for its refund or forfeiture. It must comply with Singapore's property laws, including the Civil Law Act and relevant HDB regulations for public housing transactions.
