For Sale By Owner Purchase Agreement

For Sale By Owner Purchase Agreement Template for Singapore

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Key Requirements PROMPT example:

"I need a For Sale By Owner Purchase Agreement for my 3-bedroom condominium in Singapore, with completion date set for March 2025 and including special provisions for existing tenant rights and a detailed inventory of built-in furniture that will be included in the sale."

What is a For Sale By Owner Purchase Agreement?

The For Sale By Owner Purchase Agreement is utilized when property owners in Singapore choose to conduct property sales directly with buyers, bypassing traditional real estate agent services. This comprehensive document ensures legal compliance with Singapore's property laws while protecting both parties' interests. It includes essential elements such as property details, purchase price, payment terms, warranties, and completion requirements. The agreement is particularly relevant in today's market where more property owners opt for direct sales to reduce transaction costs. It must comply with Singapore's regulatory framework, including stamp duty requirements and ownership restrictions.

What sections should be included in a For Sale By Owner Purchase Agreement?

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

2. Background: Context of the sale and brief property description

3. Definitions: Key terms used throughout the agreement

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

5. Purchase Price: Agreed price and payment terms

6. Completion Date: Timeline for transaction completion

7. Title and Ownership: Confirmation of seller's right to sell and transfer of title

8. Warranties: Seller's warranties regarding the property

What sections are optional to include in a For Sale By Owner Purchase Agreement?

1. Financing Contingency: Terms related to buyer's financing requirements - include when buyer requires mortgage financing

2. Property Inspection: Terms for property inspection rights - include when buyer requests inspection period

3. Fixtures and Fittings: List of items included/excluded from sale - include when specific items need to be clarified

4. Tenancy: Details of existing tenancy - include when property is currently tenanted

What schedules should be included in a For Sale By Owner Purchase Agreement?

1. Schedule 1 - Property Details: Detailed property specifications and floor plans

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

3. Schedule 3 - Payment Schedule: Detailed breakdown of payment terms and timeline

4. Appendix A - Property Title Documents: Copies of relevant title documents

5. Appendix B - Property Inspection Report: If applicable, results of property inspection

Authors

Alex Denne

Head of Growth (Open Source Law) @ ��Ƶ | 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
Residential Property
Banking
Legal Services

Relevant Teams

Legal
Finance
Property Management
Operations
Compliance

Relevant Roles

Property Owner
Legal Counsel
Conveyancing Lawyer
Bank Manager
Property Manager

Industries

Housing and Development Act: Primary legislation governing public housing (HDB properties) in Singapore, including regulations on ownership, transfer, and usage of HDB properties

Residential Property Act: Regulates the purchase of residential properties by foreign persons and entities in Singapore, including restrictions and approval requirements

Sale of Goods Act: Provides the legal framework for sale transactions, including property sales, covering aspects like conditions, warranties, and transfer of title

Conveyancing and Law of Property Act: Governs the transfer of property ownership and related legal procedures in Singapore

Civil Law Act: Provides general principles of civil law applicable to property transactions and contracts

Misrepresentation Act: Covers false statements or misrepresentations made during property transactions and their legal remedies

Land Titles Act: Establishes the system of land registration and provides for the transfer and mortgage of registered land

Housing Developers Rules: Regulations governing housing developers and the sale of private residential properties

Property Tax Act: Legislation governing property taxation and related obligations for property owners

Stamp Duties Act: Regulates stamp duties payable on property transactions, including Buyer's Stamp Duty (BSD)

ABSD Rules: Additional Buyer's Stamp Duty rules applying to certain categories of property buyers, particularly foreign buyers and entities

SSD Rules: Seller's Stamp Duty rules applying to properties sold within certain holding periods

Singapore Land Authority Regulations: Guidelines and requirements set by SLA for property ownership, transfer, and registration

Urban Redevelopment Authority Guidelines: Planning regulations and guidelines affecting property use and development

HDB Regulations: Specific rules and guidelines for HDB property transactions, including eligibility criteria and resale procedures

Council for Estate Agencies Regulations: Guidelines governing property transactions and real estate agency practices in Singapore

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Real Estate Purchase Offer

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Let's create your For Sale By Owner Purchase Agreement

What is a For Sale By Owner Purchase Agreement?

What sections should be included in a For Sale By Owner Purchase Agreement?

What sections are optional to include in a For Sale By Owner Purchase Agreement?

What schedules should be included in a For Sale By Owner Purchase Agreement?

Authors

Alex Denne

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