Real Estate Deposit Receipt Generator for Singapore

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Real Estate Deposit Receipt Template

Need a Real Estate Deposit Receipt Template for a Singapore commercial property purchase, where the deposit is 5% of the purchase price and will be held in escrow until March 2025, with specific clauses about GST treatment and foreign buyer provisions.

Document background

The Real Estate Deposit Receipt Template is a crucial document in Singapore's property transaction process, used when a prospective buyer makes a deposit payment towards a property purchase. It serves multiple purposes: documenting the receipt of funds, establishing the terms of the deposit holding, and protecting both parties' interests. The document must comply with Singapore's property laws, including the Civil Law Act and Estate Agents Act, and typically precedes the Option to Purchase (OTP) or Sale and Purchase Agreement. It includes essential details such as property information, payment specifics, and conditions for deposit return or forfeiture.

Suggested Sections

1. Receipt Details: Date, receipt number, and transaction reference number for the deposit payment

2. Party Information: Full details of purchaser(s) and vendor(s)/developer including names, identification numbers, and contact information

3. Property Details: Complete property description including address, unit number, land lot number, and property type

4. Payment Information: Details of deposit amount, payment method, bank details if applicable, and payment date

5. Terms of Deposit: Conditions under which the deposit is held, including refund terms and forfeit conditions

Optional Sections

1. GST Declaration: Required for commercial properties or GST-registered vendors, stating GST amount and registration details

2. HDB Compliance Statement: Required for HDB properties, confirming compliance with HDB regulations and eligibility conditions

3. Foreign Buyer Statement: Required when purchaser is not a Singapore citizen, including LDAU approval details if applicable

4. Agent Declaration: Required when property agents are involved, including CEA registration details and commission arrangements

Suggested Schedules

1. Payment Schedule: Detailed breakdown of payment milestones if part of progressive payment scheme

2. Property Details Schedule: Comprehensive list of property specifications, included fixtures and fittings

3. Terms and Conditions: Complete terms governing the deposit payment, holding and return conditions

4. Supporting Documents: List of attached documents such as identity verification, property ownership proof, or relevant certificates

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

alex.den.21@genieai.co

Relevant legal definitions

Clauses

Relevant Industries

Real Estate
Property Development
Real Estate Investment
Banking

Relevant Teams

Legal
Sales
Finance
Operations
Compliance

Relevant Roles

Real Estate Agent
Property Manager
Sales Director
Legal Counsel
Transaction Manager

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Authors

Alex Denne

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