Simple Real Estate Sales Agreement Template for Singapore

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Key Requirements PROMPT example:

Simple Real Estate Sales Agreement

"Need a Simple Real Estate Sales Agreement for the purchase of a residential apartment in Singapore, with completion scheduled for March 2025 and including specific provisions for existing tenant arrangements to be honored for 6 months post-sale."

Document background

The Simple Real Estate Sales Agreement is a fundamental document used in Singapore property transactions. It's designed for straightforward property sales where both parties have agreed on basic terms and seek to formalize their arrangement. This document type is commonly used for residential property transactions and includes essential elements such as property details, purchase price, payment terms, and completion requirements. The agreement ensures compliance with Singapore's property laws while providing a clear framework for the transaction. It's particularly suitable for direct sales between parties where complex conditions or special arrangements are not required.

Suggested Sections

1. Parties: Identification and details of the buyer and seller

2. Background: Context of the sale and basic property information

3. Definitions: Key terms used throughout the agreement

4. Property Details: Specific description of the property being sold, including land title details and property boundaries

5. Purchase Price: Amount and payment terms, including deposit requirements and payment schedule

6. Completion: Terms and timing of transaction completion, including completion date and procedures

7. Representations and Warranties: Standard declarations by both parties regarding property title, condition, and authority to sell

Optional Sections

1. Condition Precedents: Specific conditions that must be met before completion, such as bank approval or property inspection

2. Tenant Rights: Details of existing tenancy arrangements and handling of tenant deposits

3. Property Management: Arrangements regarding management fees, sinking funds, and other common property matters

4. GST Provisions: Special provisions regarding Goods and Services Tax if applicable to the transaction

Suggested Schedules

1. Schedule 1 - Property Details: Detailed property specifications, boundaries, and included fixtures

2. Schedule 2 - Title Documents: Copies of relevant title documents and certificates of title

3. Schedule 3 - Property Plans: Floor plans, location maps, and boundary plans

4. Schedule 4 - Inventory List: Comprehensive list of included furnishings and fittings (if applicable)

5. Appendix A - Statutory Declarations: Required statutory declarations regarding property ownership and transaction details

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 Investment
Construction
Banking

Relevant Teams

Legal
Real Estate
Finance
Operations
Compliance

Relevant Roles

Real Estate Agent
Property Manager
Legal Counsel
Property Developer
Investment Manager
Conveyancing Lawyer
Compliance Officer

How a Sales & Marketing Lead uses Genie AI to reduce contract drafting time by 95%

Let's create your Simple Real Estate Sales Agreement

Authors

Alex Denne

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