Legal Templates
Purchase Agreement For Sale By Owner

Purchase Agreement For Sale By Owner Template for Singapore

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Key Requirements PROMPT example:

Purchase Agreement For Sale By Owner

"I need a Purchase Agreement For Sale By Owner for my 3-bedroom condominium in Singapore's East Coast area, with completion scheduled for March 2025 and including specific provisions for existing tenant rights and an inventory of built-in furniture that will be included in the sale."

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What is a Purchase Agreement For Sale By Owner?

The Purchase Agreement For Sale By Owner is essential for private property transactions in Singapore where owners choose to sell directly to buyers without engaging real estate agents. This document ensures all necessary legal requirements under Singapore law are met while protecting both parties' interests. It includes crucial details such as property specifications, purchase price, payment terms, warranties, and completion conditions. The agreement must comply with various Singapore regulations, including the Civil Law Act, Residential Property Act, and relevant stamp duty requirements. It's particularly useful for sellers looking to save on agent commissions while maintaining legal protection in the transaction.

What sections should be included in a Purchase Agreement For Sale By Owner?

1. Parties: Identification and details of the buyer and seller

2. Background: Context of the sale and brief property description

3. Definitions: Key terms used throughout the agreement

4. Property Description: Detailed description of the property including address, lot number, and specifications

5. Purchase Price: Agreed price and payment terms

6. Completion: Timeline and conditions for completion of sale

7. Representations and Warranties: Seller's declarations about property condition and ownership

8. Stamp Duty: Provisions regarding payment of stamp duties and tax obligations

9. Title and Transfer: Requirements and process for transferring property title

What sections are optional to include in a Purchase Agreement For Sale By Owner?

1. Fixtures and Fittings: Detailed list of items included/excluded from sale when specific items need to be clarified

2. Tenant Rights: Details of existing tenancy when property is currently tenanted

3. Property Management: Maintenance responsibilities before completion when completion period is extended

4. Foreign Ownership Compliance: Additional provisions required when buyer is a foreign person under Singapore law

5. HDB Compliance: Special provisions when property is an HDB flat subject to HDB regulations

What schedules should be included in a Purchase Agreement For Sale By Owner?

1. Schedule 1 - Property Floor Plan: Detailed layout of the property

2. Schedule 2 - Inventory List: Comprehensive list of fixtures and fittings included in sale

3. Schedule 3 - Title Documents: Copies of relevant property ownership documents

4. Schedule 4 - Property Tax Statements: Recent property tax assessments

5. Schedule 5 - Maintenance Fee Schedule: Details of ongoing maintenance charges if applicable

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

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alex.den.21@genieai.co
Clauses
Parties and Property Description
Purchase Price and Payment Terms
Deposit
Due Diligence
Property Condition
Title and Ownership
Representations and Warranties
Completion
Vacant Possession
Property Tax and Duties
Risk and Insurance
Default and Termination
Fixtures and Fittings
Encumbrances
Property Management
Assignment
Force Majeure
Notices
Governing Law
Dispute Resolution
Entire Agreement
Severability
Amendments
Costs and Expenses
Confidentiality
Third Party Rights
Further Assurance
Liability
Indemnification
Survival
Industries

Civil Law Act (Cap. 43): Primary legislation governing contractual relationships, requirements for valid contracts, and provisions regarding property transactions in Singapore

Sale of Goods Act (Cap. 393): Regulates the sale of goods, defining rights and obligations of buyers and sellers, including conditions and warranties

Residential Property Act (Cap. 274): Controls and restricts foreign ownership of residential property in Singapore, including specific requirements for property ownership

Housing and Development Act (Cap. 129): Governs HDB flat transactions, including eligibility criteria for buyers and resale regulations

Stamp Duties Act (Cap. 312): Covers various property-related duties including Buyer's Stamp Duty (BSD), Additional Buyer's Stamp Duty (ABSD), and Seller's Stamp Duty (SSD)

Property Tax Act (Cap. 254): Regulates property tax obligations and tax clearance requirements for property transactions

Land Titles Act (Cap. 157): Establishes property registration requirements, land title system, and procedures for transfer of title

Conveyancing and Law of Property Act (Cap. 61): Sets out legal requirements for property transfer and defines rights and obligations in property transactions

Personal Data Protection Act 2012: Governs the handling of personal information and privacy requirements in property transactions

Money-laundering and Terrorism Financing Prevention regulations: Establishes due diligence requirements and reporting obligations for property transactions to prevent illegal activities

CEA Guidelines: Guidelines from the Council for Estate Agencies that regulate real estate transactions and agency practices

Singapore Case Law Precedents: Relevant judicial decisions that establish precedents for property transactions and contract interpretation

Law Society Conveyancing Guidelines: Practice guidelines issued by the Singapore Law Society for property conveyancing procedures

Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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