The Property Offer Letter is a crucial document in Singapore's property transaction process, serving as the initial formal communication between buyer and seller. It is typically used when a prospective buyer wishes to make an official offer to purchase residential or commercial property. The document outlines essential terms including purchase price, payment structure, completion timeline, and any specific conditions. Under Singapore's property law framework, this document forms the basis for the subsequent Option to Purchase agreement. The Property Offer Letter must comply with various regulations including the Housing and Development Act (for HDB properties) or the Residential Property Act (for private properties), and consider factors such as Additional Buyer's Stamp Duty (ABSD) and Total Debt Servicing Ratio (TDSR) requirements.
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1. Buyer Information: Full legal name, NRIC/passport number, contact details of the potential buyer
2. Property Details: Complete property address, unit number, land title particulars, property type and specifications
3. Offer Price and Payment Terms: Purchase price (in numbers and words), option fee, deposit amount, and payment schedule
4. Validity Period: Duration for which the offer remains valid and terms of acceptance
5. Completion Timeline: Proposed completion date, key milestones, and timeline for various requirements
6. Regulatory Compliance: Statement of compliance with relevant Singapore property laws and regulations
1. Conditions Precedent: Special conditions that must be met before proceeding with the purchase
2. Inventory of Fixtures and Fittings: Detailed list of items included in the sale price
3. Renovation Terms: Specific agreements regarding renovation works or property modifications
4. Property Agent Details: Information about property agents involved in the transaction
5. Special Conditions: Any additional terms or conditions specific to the transaction
1. Schedule 1 - Property Details: Detailed property specifications including floor plan and exact bouNDAries
2. Schedule 2 - Payment Schedule: Detailed breakdown of payment terms and timeline
3. Schedule 3 - Inventory List: Complete list of fixtures, fittings, and items included in the sale
4. Appendix A - Property Documents: Copy of title search, property tax statement, and other relevant documents
5. Appendix B - Regulatory Declarations: Required declarations under Singapore property laws and regulations
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