Real Estate Contract For Sale By Owner Template for Singapore

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Key Requirements PROMPT example:

Real Estate Contract For Sale By Owner

"I need a Real Estate Contract For Sale By Owner for my 3-bedroom HDB flat in Tampines, which I plan to sell directly to a Singapore citizen buyer for SGD 550,000, with completion expected by March 2025."

Document background
The Real Estate Contract For Sale By Owner is utilized in Singapore when property owners choose to sell their property directly to buyers without the primary involvement of a real estate agent. This approach can potentially save on agent commission fees but requires careful attention to legal requirements and documentation. The contract must incorporate all essential elements required by Singapore law, including proper property description, price terms, completion date, and various statutory declarations. It's particularly important that the document addresses Singapore's specific requirements regarding property ownership, ethnic quotas (for HDB properties), and stamp duty obligations.
Suggested Sections

1. Parties: Details of seller and purchaser, including identification and contact information

2. Background: Context of the sale and property details

3. Definitions: Key terms used throughout the contract

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

5. Purchase Price: Agreement on price and payment terms

6. Completion Date: Timeline for transaction completion

7. Title and Ownership: Confirmation of clear title and ownership transfer terms

Optional Sections

1. Ethnic Integration Policy Compliance: Required for HDB properties only

2. Foreign Ownership Approval: Required when purchaser is foreign national

3. En Bloc Potential: Include if property has potential for collective sale

4. Tenancy Status: Include if property is currently tenanted

Suggested Schedules

1. Property Floor Plan: Detailed layout of the property

2. Inventory List: List of fixtures and fittings included in sale

3. Title Search Results: Recent title search showing encumbrances

4. Property Tax Statements: Recent property tax assessments

5. Maintenance Fee Records: For condominiums/apartments only

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 in Singapore, including restrictions on foreign ownership of residential property

Housing and Development Act (Chapter 129): Regulates public housing (HDB) in Singapore, including sales, purchases, and eligibility criteria

Land Titles Act (Chapter 157): Governs the registration and transfer of land titles in Singapore, establishing the land titles system

Conveyancing and Law of Property Act (Chapter 61): Regulates property transactions and transfer of real estate, including legal requirements for property conveyancing

Sale of Goods Act (Chapter 393): Provides legal framework for sale transactions, applicable to certain aspects of property sales

CEA Regulations: Council for Estate Agencies regulations governing real estate transactions and agency practices in Singapore

URA Guidelines: Urban Redevelopment Authority guidelines affecting property development, usage, and zoning requirements

SLA Requirements: Singapore Land Authority requirements for land ownership, registration, and property boundaries

HDB Regulations: Specific rules governing public housing transactions, including Ethnic Integration Policy and PR Quota

Stamp Duties Act: Governs stamp duties payable on property transactions, including ABSD and SSD

Property Tax Act: Regulates property tax obligations and assessments for real estate owners

Planning Act: Controls land use and development in Singapore, including zoning and development permissions

Building Control Act: Regulates building works and ensures compliance with building safety standards

Contract Law Act: Provides legal framework for contract formation and enforcement in Singapore

Misrepresentation Act: Protects parties against false statements or misrepresentations in property transactions

Electronic Transactions Act: Governs electronic transactions and digital signatures in property transactions when applicable

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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