The Contract For Buying A House serves as the primary legal instrument for residential property transactions in Singapore. This document is essential when purchasing any type of residential property, whether public (HDB) or private. It incorporates mandatory elements required by Singapore law, including property details, purchase price, payment terms, completion timeline, and various warranties. The contract must account for specific regulatory requirements such as stamp duties, potential foreign ownership restrictions, and HDB rules where applicable. It provides legal protection for both buyer and seller while ensuring compliance with Singapore's property transaction framework.
Contract For Buying A House for Singapore
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Contract For Buying A House
"I need a Contract For Buying A House for a private condominium purchase in Singapore, where I'm a foreign buyer acquiring a property valued at SGD 2.5 million, with completion scheduled for March 2025."
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1. Parties: Details of the buyer and seller, including full legal names and identification
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 and land title particulars
5. Purchase Price: Amount and payment terms including deposit arrangements
6. Completion: Timeline and procedures for completing the transaction
7. Warranties: Standard warranties from seller regarding property title and condition
1. Financing Conditions: Required if purchase is subject to mortgage approval - used when buyer requires bank financing
2. HDB Approval: Conditions related to HDB approval - required for HDB properties only
3. Foreign Ownership Approval: Requirements for foreign buyer approval - required when buyer is foreign national
1. Property Floor Plan: Detailed floor plan of the property
2. Inventory List: List of fixtures and fittings included in sale
3. Title Search: Recent title search results
4. Property Tax Records: Recent property tax statements
5. Maintenance Fee Schedule: For condominiums or properties with maintenance fees
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