Agreement For Purchase And Sale Of Real Property Template for Singapore

The Agreement For Purchase And Sale Of Real Property is a fundamental legal document used in Singapore real estate transactions to formalize property transfers. It is essential for both residential and commercial property transactions, incorporating specific requirements under Singapore law including the Land Titles Act, Residential Property Act, and Conveyancing and Law of Property Act. This agreement is required whenever real property is bought or sold in Singapore, whether between private individuals, companies, or a combination thereof. It covers crucial elements such as property details, purchase price, payment terms, conditions precedent, warranties, and completion requirements. The document must comply with Singapore's strict property legislation, including provisions for CPF usage, foreign ownership restrictions, and stamp duty obligations. It serves as the primary evidence of the transaction terms and protects both parties' interests throughout the property transfer process.

1. Parties: Identifies and provides full details of the seller and purchaser

2. Background: Sets out the context of the transaction, including brief property description and seller's ownership

3. Definitions: Defines key terms used throughout the agreement

4. Sale and Purchase: Core agreement to sell and purchase the property at the specified price

5. Property Description: Detailed description of the property including address, land area, and title details

6. Purchase Price: States the purchase price and payment structure including deposit and completion payment

7. Payment Terms: Details the payment schedule, method of payment, and treatment of deposit

8. Conditions Precedent: Lists conditions that must be satisfied before completion can occur

9. Due Diligence: Buyer's rights and timeline for property investigation and title review

10. Seller's Representations and Warranties: Seller's promises about the property's condition and legal status

11. Buyer's Representations and Warranties: Buyer's promises regarding capacity to purchase and financial ability

12. Completion: Details of the completion process, timing, and requirements

13. Title and Transfer: Provisions regarding transfer of title and property ownership

14. Property Condition: State of the property upon handover and any included/excluded items

15. Taxes and Costs: Allocation of stamp duties, legal fees, and other transaction costs

16. Default and Termination: Consequences of breach and termination rights

17. Notices: How formal communications between parties should be made

18. Governing Law and Jurisdiction: Confirms Singapore law governs and Singapore courts have jurisdiction

19. General Provisions: Standard contractual provisions including entire agreement, amendments, and severability