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A Memorandum of Sale documents the key terms when someone buys property in Singapore. It's the first formal record of what the buyer and seller have agreed to, including the property details, purchase price, payment schedule, and completion date. Think of it as a written handshake that makes the deal official.

While not as detailed as the final Sale and Purchase Agreement, this memorandum is legally binding under Singapore property law. Real estate agents typically prepare it right after both parties agree on the price, and it must be signed before the Option to Purchase can be issued. Most banks and property lawyers also need this document to start processing loans or conducting due diligence.

Use a Memorandum of Sale immediately after reaching a verbal agreement on any property purchase in Singapore. This document locks in the essential terms before proceeding with the Option to Purchase, protecting both parties from misunderstandings or disputes about the core deal points.

Real estate agents prepare this memorandum when buyers commit to a specific price and terms, but before any money changes hands. It's particularly crucial for private property transactions where negotiated terms might be complex. Having this written record helps secure bank loans, speeds up legal paperwork, and gives everyone clear documentation of what was agreed upon during negotiations.

• Memorandum Of Understanding For Sale Of Property: Basic version used for residential property transactions, outlining core terms and conditions
• Memorandum Of Agreement For Land Sale: Specialized format for undeveloped land deals, including zoning and development rights
• Memorandum Of Agreement Between Buyer And Seller: Comprehensive version with detailed payment terms and contingencies
• Memorandum Of Agreement For Sale And Purchase: Enhanced template for commercial properties with specific business terms
• Memorandum Of Agreement For Sales Commission: Focuses on agent commission structures and payment schedules

• Property Buyers and Sellers: The main parties who sign and are bound by the Memorandum of Sale's terms and conditions
• Real Estate Agents: Usually prepare the initial draft and coordinate signatures between parties
• Property Lawyers: Review terms, advise clients, and use it as a basis for the final Sale and Purchase Agreement
• Banks and Financial Institutions: Reference the document when processing property loans and mortgages
• Property Developers: Use it for new launch sales and multiple unit transactions
• Property Valuers: Rely on it to confirm agreed prices for formal valuations

• Property Details: Gather exact address, unit number, floor area, and property type from official records
• Party Information: Collect full legal names, NRIC/passport numbers, and contact details of buyers and sellers
• Price Terms: Document the agreed purchase price, payment schedule, and deposit amount
• Timeline Details: Set clear dates for Option to Purchase, completion, and key milestones
• Special Conditions: Note any agreed terms about fixtures, renovations, or specific inclusions
• Agent Details: Include CEA registration numbers and commission structures
• Document Review: Use our platform to generate a legally-sound draft that includes all mandatory elements

• Party Details: Full legal names, identification numbers, and addresses of buyer and seller
• Property Description: Complete address, lot number, strata title details, and floor area
• Transaction Terms: Purchase price, payment schedule, and completion timeline
• Option Period: Duration and conditions of the Option to Purchase
• Special Conditions: Any agreed variations from standard terms
• GST Status: Clear statement on GST applicability and handling
• Signatures: Dated signatures of all parties and witnesses
• Agent Information: Licensed agent details and commission structure
• Governing Law: Singapore law jurisdiction clause

A Memorandum of Sale is often confused with a Sale and Purchase Agreement, but they serve distinct purposes in Singapore's property transactions. While both documents relate to property sales, they function at different stages and carry different legal weights.

• Timing and Purpose: A Memorandum of Sale comes first, documenting initial agreement on key terms, while the Sale and Purchase Agreement is the final, comprehensive contract
• Level of Detail: The Memorandum captures essential terms like price and property details, while the SPA includes exhaustive legal provisions, warranties, and obligations
• Legal Effect: The Memorandum establishes preliminary commitment but allows flexibility, while the SPA creates full binding obligations
• Documentation Requirements: The Memorandum needs basic property and party details, while the SPA requires extensive due diligence documentation
• Professional Input: Real estate agents typically prepare the Memorandum, while lawyers draft and review the SPA