The Offer To Buy Real Estate Form is a crucial document in Singapore's property transaction process, serving as the initial formal step in property acquisition. This document is typically used when a prospective buyer has identified a property of interest and wishes to make a formal offer to purchase. It includes critical information such as property details, purchase price, payment terms, option period, and any specific conditions of the offer. The form must comply with Singapore's property laws, including the Residential Property Act, and may require additional provisions depending on whether the property is private or HDB-regulated. It forms the basis for the subsequent Option to Purchase agreement if the offer is accepted.
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Key Requirements PROMPT example:
Offer To Buy Real Estate Form
"I need an Offer To Buy Real Estate Form for a 3-bedroom private condominium in Singapore's District 10, with a purchase price of SGD 2.8 million and an option period of 14 days, including special conditions for existing renovation works to be included in the sale."
1. Property Details: Full description of property including address, lot number, floor area, and property type
2. Purchase Price: Stated purchase price, payment terms, and method of payment
3. Option Period: Duration for which offer remains valid and conditions for exercise of option
4. Payment Schedule: Breakdown of payment timeline including option fee, deposit and completion payment
5. Conditions Precedent: Conditions that must be met before sale completion, including financing and regulatory approvals
1. Renovation Agreement: Terms regarding existing renovations included in the sale and any specific renovation conditions
2. Tenancy Details: Information about existing tenancy, including terms and handover conditions if property is currently tenanted
3. Foreign Buyer Declaration: Additional declarations and commitments required for non-Singaporean buyers under the Residential Property Act
1. Property Floor Plan: Detailed floor plan of the property showing layout and dimensions
2. Inventory List: Comprehensive list of fixtures, fittings, and furnishings included in the sale
3. Title Search: Recent title search results showing ownership and encumbrances
4. Valuation Report: Professional valuation of property including comparative market analysis
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