Contract To Sell House By Owner Template for Singapore

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Key Requirements PROMPT example:

Contract To Sell House By Owner

"I need a Contract To Sell House By Owner for my 3-bedroom private condominium in Singapore, with completion date set for March 2025 and including specific provisions for existing tenant arrangements until their lease expires in May 2025."

Document background
The Contract To Sell House By Owner is essential for property owners in Singapore who choose to sell their residential property directly to buyers without engaging a real estate agent. This document ensures legal protection for both parties while complying with Singapore's strict property transaction regulations. It includes crucial elements such as property details, payment terms, conditions precedent, and warranties, while adhering to requirements under the Residential Property Act, Housing and Development Act (for HDB properties), and other relevant legislation. The contract is particularly relevant in situations where owners wish to maintain direct control over the sale process while minimizing transaction costs.
Suggested Sections

1. Parties: Identification and details of the seller and buyer, including NRIC/Passport numbers and addresses

2. Background: Context of the sale, property ownership history, and reason for transaction

3. Definitions: Key terms used throughout the agreement including Property, Completion Date, Purchase Price, etc.

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

5. Purchase Price: Agreed purchase price, payment schedule, and deposit arrangements

6. Title and Ownership: Confirmation of seller's right to sell and details of property title

7. Conditions Precedent: Conditions that must be fulfilled before completion

8. Completion: Timeline, process, and requirements for completion of sale

9. Seller's Warranties: Warranties regarding property condition, encumbrances, and compliance with laws

10. Property Handover: Conditions and process for physical handover of the property

11. Taxes and Costs: Allocation of stamp duty, legal fees, and other transaction costs

12. Default and Termination: Consequences of default and termination rights

Optional Sections

1. Financing Conditions: Terms related to buyer's financing arrangements and mortgage requirements

2. Tenant Provisions: Details of existing tenancy and handover arrangements if property is tenanted

3. Renovation Works: Provisions regarding ongoing or planned renovation works

4. Property Management: Details of management corporation and maintenance fees for condominiums

5. Foreign Ownership: Additional provisions if buyer is a foreign person under Residential Property Act

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property information including floor plan and land title particulars

2. Schedule 2 - Inventory List: List of fixtures, fittings, and furniture included in the sale

3. Schedule 3 - Payment Schedule: Detailed breakdown of payment milestones and amounts

4. Schedule 4 - Title Documents: Copies of title deeds and other relevant property documents

5. Schedule 5 - Property Tax and Maintenance Fees: Current property tax assessment and maintenance fee schedule

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

Relevant legal definitions
Clauses
Industries

Residential Property Act: Chapter 274 - Primary legislation governing residential property ownership and transactions in Singapore, including restrictions on foreign ownership

Housing and Development Act: Legislation governing HDB (Housing Development Board) properties, including rules for public housing transactions

Land Titles Act: Chapter 157 - Legislation governing the registration and transfer of land titles in Singapore

Conveyancing and Law of Property Act: Chapter 61 - Laws governing property transactions and transfer of real estate ownership

Planning Act: Chapter 232 - Legislation controlling land use and development in Singapore

Estate Agents Act 2010: Regulations governing real estate transactions and agent conduct, even relevant for owner sales

Property Tax Act: Legislation governing property taxation and related obligations during property transfers

Stamp Duties Act: Laws regarding stamp duty payments and obligations in property transactions

COVID-19 (Temporary Measures) Act 2020: Temporary provisions affecting property transactions during and after the pandemic period

Option to Purchase Requirements: Mandatory requirements for the Option to Purchase agreement in Singapore property transactions

Title Verification Requirements: Legal requirements for verifying clean property title and checking for encumbrances

Payment Terms Requirements: Legal requirements regarding payment schedules, deposit amounts, and financial obligations

Property Handover Regulations: Legal requirements for property handover, including condition requirements and timeline regulations

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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