Document background
The Offer and Agreement to Purchase is a crucial document in Singapore's property transaction landscape, used when a potential buyer wishes to formalize their intention to purchase a property and establish the binding terms of the sale. This document is typically employed after initial negotiations but before the formal conveyancing process begins. It encompasses all essential aspects of the property transaction, including property details, price, payment terms, conditions precedent, and completion requirements. The agreement must comply with Singapore's legal framework, including the Civil Law Act, Conveyancing and Law of Property Act, and relevant property regulations. It serves a dual purpose: initially as an offer document and, upon acceptance by the seller, as the binding agreement that governs the entire transaction. This document is particularly important in Singapore's property market, where transactions often involve substantial values and require strict regulatory compliance.
