The Real Estate Contract is a fundamental document used in Singapore property transactions, essential for both residential and commercial property transfers. It ensures compliance with Singapore's comprehensive property laws, including the Residential Property Act and Housing Development Act. The contract typically includes detailed property descriptions, purchase price, payment terms, completion timeline, and specific provisions required by Singapore law. It's particularly important given Singapore's unique property ownership restrictions, stamp duty requirements, and strict regulatory framework for both local and foreign property ownership.
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1. Parties: Identification and details of the buyer and seller
2. Background: Context of the transaction and property details
3. Definitions: Key terms used throughout the contract
4. Property Description: Detailed description of the property including address and lot number
5. Purchase Price: Amount and payment terms
6. Completion: Timeline and conditions for completion
7. Title and Transfer: Provisions regarding property title transfer
1. Mortgage Provisions: Required if buyer is obtaining mortgage financing - applies when property purchase involves bank financing
2. En Bloc Provisions: Rights and obligations regarding collective sale - applicable for private residential properties
3. Tenancy Provisions: Details of existing tenancy if property is sold with sitting tenants
1. Property Schedule: Detailed inventory of fixtures and fittings included in sale
2. Title Documents: Copies of relevant title documents
3. Floor Plan: Official floor plan of the property
4. Payment Schedule: Detailed breakdown of payment milestones
5. Certificates: Relevant certificates including TOP/CSC if applicable
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