The Property Offer Template serves as a crucial initial document in Singapore's property transaction process. It is used when a prospective buyer wishes to formalize their interest in purchasing a property, whether residential or commercial. The template incorporates essential elements required by Singapore law, including property identification, price terms, option period, and payment schedule. It forms the basis for the subsequent Option to Purchase and Sale and Purchase Agreement. The document must comply with various regulations, including those from URA, SLA, and where applicable, HDB guidelines.
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Key Requirements PROMPT example:
Property Offer Template
I need a Property Offer Template for a 3-bedroom condominium unit in Singapore's East Coast area, with completion scheduled for March 2025 and including provisions for existing tenant arrangements and en-bloc potential.
1. Property Details: Full description of property including address, land title details, floor area, and property type
2. Purchase Price: Stated purchase price and payment terms, including any GST implications
3. Option Period: Duration for which the offer remains valid and terms of exercise
4. Option Fee: Amount payable to secure the Option to Purchase and payment method
5. Payment Schedule: Breakdown of payment milestones, amounts, and timeline including booking fee, option fee, and completion payment
1. Conditions Precedent: Specific conditions that must be met before completion, such as bank approval or sale of existing property
2. Furnishing Details: Comprehensive list of furniture, fittings, and fixtures included in the sale
3. Tenancy Details: Information about existing tenancy agreements, including terms and handover arrangements
4. Property Tax Provisions: Specific arrangements regarding property tax apportionment and payment responsibilities
5. Foreign Ownership Declaration: Required declarations for foreign buyers under the Residential Property Act
1. Schedule A - Floor Plan: Detailed layout and floor plan of the property
2. Schedule B - Inventory List: Detailed inventory of all furnishings and fittings included in the sale
3. Schedule C - Title Search Results: Recent title search results showing ownership details and any encumbrances
4. Schedule D - Property Tax Statement: Current property tax assessment and payment status
5. Schedule E - Regulatory Compliance Checklist: Checklist of compliance requirements under Singapore property laws and regulations
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