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Commercial Real Estate Sales Contract

Commercial Real Estate Sales Contract Template for Singapore

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Key Requirements PROMPT example:

Commercial Real Estate Sales Contract

"I need a Commercial Real Estate Sales Contract for the purchase of a 50,000 square foot industrial warehouse in Singapore's Jurong area, with completion planned for March 2025 and including provisions for existing tenant transfers."

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Document background
The Commercial Real Estate Sales Contract is essential for any transaction involving commercial property in Singapore. This document is used when parties wish to formalize the sale and purchase of commercial real estate, whether it's office space, retail property, industrial facilities, or mixed-use developments. It provides comprehensive coverage of all aspects of the transaction, including property specifications, payment terms, conditions precedent, and completion requirements. The contract ensures compliance with Singapore's strict property laws and regulations, including stamp duty requirements, foreign ownership restrictions, and land use conditions. It serves as the primary document governing the rights and obligations of both parties throughout the transaction process.
Suggested Sections

1. Parties: Identification and details of the seller and purchaser, including registration numbers for companies and identification for individuals

2. Background: Context of the transaction, property history, and current status

3. Definitions: Key terms used throughout the agreement, including legal and technical terminology

4. Property Description: Detailed description of the property including address, land area, tenure, and permitted use

5. Purchase Price: Agreement on price, payment terms, deposits, and payment schedule

6. Conditions Precedent: Conditions that must be satisfied before completion of the sale

7. Seller's Warranties: Representations and warranties regarding the property's condition, title, and compliance

8. Completion: Terms and conditions for completion of sale, including timing and procedures

9. Post-Completion Obligations: Obligations of parties after completion, including handover procedures

10. Termination: Circumstances under which the agreement may be terminated and consequences

11. Governing Law and Jurisdiction: Specification of Singapore law as governing law and jurisdiction for disputes

Optional Sections

1. Tenancies: Details of existing tenancies, assignment of rental deposits, and tenant obligations

2. Property Management: Transitional arrangements for property management and existing contracts

3. Environmental Matters: Environmental compliance, hazardous materials, and remediation obligations

4. Tax Matters: Specific provisions regarding GST, stamp duty, and other applicable taxes

5. Due Diligence: Provisions for buyer's due diligence period and requirements

Suggested Schedules

1. Property Plans: Detailed floor plans, site maps, and boundary plans

2. Title Documents: Copies of title deeds, certificates, and encumbrances

3. Inventory: List of fixtures, fittings, and equipment included in the sale

4. Existing Tenancy Agreements: Copies of current tenant contracts and amendments

5. Property Certificates: Relevant certificates including TOP, CSC, and fire safety certificates

6. Form of Transfer: Standard form for transfer of property ownership

7. Regulatory Approvals: Copies of planning permissions and other regulatory approvals

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok³ÉÈË°æ | 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








































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Industries

Civil Law Act (Cap. 43): Primary legislation governing civil law matters and contracts in Singapore, providing the fundamental legal framework for commercial transactions

Land Titles Act (Cap. 157): Legislation governing the registration and transfer of land titles in Singapore, establishing the land titles system

Conveyancing and Law of Property Act (Cap. 61): Regulates property transactions and transfer of real estate, including rules for conveyancing practices

Planning Act (Cap. 232): Controls land use and development in Singapore, ensuring compliance with urban planning requirements

Property Tax Act (Cap. 254): Governs the taxation of properties in Singapore, including commercial real estate

Stamp Duties Act (Cap. 312): Regulates stamp duties payable on property transactions, including ABSD and SSD for real estate

Building Control Act (Cap. 29): Ensures building works meet safety and technical requirements, including commercial property standards

Environmental Public Health Act (Cap. 95): Maintains environmental and public health standards for properties, including commercial buildings

Fire Safety Act (Cap. 109A): Establishes fire safety requirements and standards for buildings, crucial for commercial properties

Singapore Land Authority Guidelines: Administrative guidelines from SLA governing land ownership and usage in Singapore

URA Zoning Regulations: Urban Redevelopment Authority requirements for land use zoning and development control

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

MAS Guidelines: Monetary Authority of Singapore guidelines relating to real estate financing and transactions

BCA Requirements: Building and Construction Authority standards for commercial building construction and maintenance

REDAS Guidelines: Real Estate Developers' Association of Singapore guidelines for property development and sales

AML/CTF Requirements: Anti-Money Laundering and Counter-Terrorism Financing requirements for real estate transactions

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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