The Letter of Offer to Sell Property is a crucial document in Singapore's property transaction process, serving as the first formal step in property sales. This document is used when a property owner wishes to formally communicate their intention to sell their property and outline the terms of sale. It includes essential information such as property details, asking price, payment terms, and any specific conditions of sale. The document must comply with Singapore's property laws and regulations, including requirements from the Singapore Land Authority, Urban Redevelopment Authority, and, if applicable, Housing Development Board. This letter forms the basis for subsequent negotiations and, if accepted, leads to the formation of a binding contract.
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Key Requirements PROMPT example:
Letter Of Offer To Sell Property
"I need a Letter of Offer to Sell Property for my three-bedroom condominium in Singapore's East Coast area, with a sale price of SGD 2.3 million and a completion date of March 15, 2025, including specific terms about existing kitchen appliances that will be included in the sale."
1. Seller's Details: Full legal name and address of the property owner, including NRIC/Registration number
2. Property Description: Complete address, legal description, and land title details of the property
3. Offer Price: The proposed selling price in Singapore dollars and payment structure
4. Payment Terms: Structure and timeline of payments, including deposit requirements and completion date
5. Offer Validity Period: Duration for which the offer remains valid and conditions for acceptance
6. Property Condition: Current state of the property, any known defects, and as-is conditions
1. Fixtures and Fittings: Detailed list of items included or excluded from the sale
2. Tenancy Status: Details of existing tenancy agreements and handover conditions
3. Special Conditions: Any specific requirements, conditions, or restrictions affecting the sale
4. Property Tax Details: Current property tax obligations and arrangements
5. Regulatory Compliance: Specific mentions of compliance with HDB rules, foreign ownership restrictions, or other regulatory requirements
1. Property Title Search: Recent title search document showing ownership and encumbrances
2. Floor Plan: Current floor plan and property measurements
3. Property Tax Statement: Recent property tax assessment and payment status
4. Property Photographs: Recent photographs showing current condition of the property
5. Inventory List: Detailed inventory of fixtures, fittings, and furnishings included in the sale
Authors
Relevant legal definitions
Property
Seller
Purchase Price
Completion Date
Option Period
Title Deeds
Deposit
Fixtures and Fittings
Encumbrances
Working Day
GST
Stamp Duty
Certificate of Title
Strata Title
Property Tax
Vacant Possession
Sale and Purchase Agreement
Conveyancing
Caveat
Due Diligence Period
Valuation Report
Estate in Fee Simple
Leasehold Interest
Common Property
Share Value
Title Search
Subsidiary Proprietor
Management Corporation
Building and Construction Authority
Urban Redevelopment Authority
Seller
Purchase Price
Completion Date
Option Period
Title Deeds
Deposit
Fixtures and Fittings
Encumbrances
Working Day
GST
Stamp Duty
Certificate of Title
Strata Title
Property Tax
Vacant Possession
Sale and Purchase Agreement
Conveyancing
Caveat
Due Diligence Period
Valuation Report
Estate in Fee Simple
Leasehold Interest
Common Property
Share Value
Title Search
Subsidiary Proprietor
Management Corporation
Building and Construction Authority
Urban Redevelopment Authority
Clauses
Property Description
Purchase Price
Payment Terms
Offer Validity
Due Diligence
Property Condition
Vacant Possession
Title and Ownership
Encumbrances
Fixtures and Fittings
Existing Tenancies
Property Tax
GST
Stamp Duty
Completion
Default
Representations and Warranties
Assignment
Governing Law
Notice
Force Majeure
Entire Agreement
Termination
Costs and Expenses
Time of Essence
Confidentiality
Dispute Resolution
Further Assurance
Severability
Amendments
Purchase Price
Payment Terms
Offer Validity
Due Diligence
Property Condition
Vacant Possession
Title and Ownership
Encumbrances
Fixtures and Fittings
Existing Tenancies
Property Tax
GST
Stamp Duty
Completion
Default
Representations and Warranties
Assignment
Governing Law
Notice
Force Majeure
Entire Agreement
Termination
Costs and Expenses
Time of Essence
Confidentiality
Dispute Resolution
Further Assurance
Severability
Amendments
Relevant Industries
Relevant Teams
Relevant Roles
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