Residential Real Estate Purchase Contract

Residential Real Estate Purchase Contract Template for Singapore

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Key Requirements PROMPT example:

"I need a Residential Real Estate Purchase Contract for a Singapore condominium unit purchase from a foreign seller, with completion scheduled for March 2025, including specific provisions for existing tenant occupation and early vacant possession."

Document background

The Residential Real Estate Purchase Contract is a fundamental legal document used in Singapore's property market for transferring residential property ownership. It ensures compliance with Singapore's strict property regulations, including foreign ownership restrictions, stamp duty requirements, and specific rules for different property types (private or HDB). The contract covers essential elements such as property details, price, payment terms, warranties, and completion requirements, while incorporating necessary protections for both buyers and sellers. It's particularly important given Singapore's unique property landscape and regulatory framework, which includes considerations such as the Residential Property Act, Housing Development Act, and various stamp duty regimes.

Suggested Sections

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

2. Background: Context of the transaction and property details

3. Definitions: Key terms used throughout the agreement

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

5. Purchase Price: Agreed price and payment terms including deposit requirements

6. Completion: Timeline and conditions for completion of sale

7. Title and Transfer: Provisions regarding clean title and transfer process

8. Representations and Warranties: Standard warranties by both parties

9. Default Provisions: Consequences of default by either party

Optional Sections

1. Foreign Ownership Provisions: Required when buyer is foreign - includes compliance with Residential Property Act requirements

2. HDB-Specific Requirements: Special conditions and eligibility requirements for HDB properties

3. Tenancy Provisions: Details of existing tenancy and handover conditions if property is currently tenanted

4. En Bloc Sale Provisions: Special conditions and requirements for collective sales

Suggested Schedules

1. Property Schedule: Detailed property specifications, floor plans, and boundaries

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

3. Payment Schedule: Detailed breakdown of payment milestones

4. Title Documents: Copies of relevant title documents

5. Property Tax Documentation: Current property tax assessments

6. Maintenance Fee Schedule: Details of maintenance fees for condominiums

7. Existing Tenancy Documents: If applicable, current tenancy agreements

Authors

Alex Denne

Head of Growth (Open Source Law) @ tiktok��˰� | 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
Banking
Legal Services
Property Development

Relevant Teams

Legal
Real Estate
Finance
Compliance
Property Management

Relevant Roles

Real Estate Agent
Property Lawyer
Conveyancing Officer
Property Manager
Mortgage Officer

Industries

Civil Law Act (Cap. 43): Primary legislation governing contractual relationships, obligations, and requirements for contracts relating to land in Singapore

Residential Property Act (Cap. 274): Regulates foreign ownership of residential property and sets requirements for foreign buyers in Singapore

Housing and Development Act (Cap. 129): Contains regulations for HDB properties, eligibility criteria for buyers, and resale procedures

Planning Act (Cap. 232): Covers land use, zoning requirements, and property development restrictions

Land Titles Act (Cap. 157): Governs property ownership registration, title transfer procedures, and management of encumbrances and caveats

Stamp Duties Act: Regulates various property-related duties including Buyer's Stamp Duty (BSD), Additional Buyer's Stamp Duty (ABSD), and Seller's Stamp Duty (SSD)

Real Estate Developers (Control and Licensing) Act: Sets out developer obligations and property completion requirements

COVID-19 (Temporary Measures) Act 2020: Contains temporary measures affecting property transactions during the pandemic period

Conveyancing and Law of Property Act: Establishes legal requirements for property transfer and contractual obligations

CEA Guidelines: Council for Estate Agencies guidelines governing real estate transactions and agency practices

MAS Regulations: Monetary Authority of Singapore regulations including Loan-to-Value limits and Total Debt Servicing Ratio requirements

SLA Requirements: Singapore Land Authority requirements for property transactions and land management

URA Guidelines: Urban Redevelopment Authority guidelines for property development and usage

Option to Purchase Requirements: Specific requirements and procedures for the Option to Purchase agreement in property transactions

Payment Schedule Regulations: Requirements for structuring and implementing payment schedules in property purchases

Defects Liability Period: Regulations governing the period during which developers are responsible for rectifying defects

Property Handover Conditions: Legal requirements and standard practices for property handover procedures

Dispute Resolution Mechanisms: Legal framework and procedures for resolving disputes in property transactions

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Let's create your Residential Real Estate Purchase Contract

Authors

Alex Denne

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