Conditions of sale Pt1 – Singapore condo for rent
The common terms and conditions of an Option to Purchase for a completed private residential property usually include the following: Singapore condo for rent.
Personal Particulars: All the Vendors and the Purchasers – Name, NRIC and Mailing Address.
Property Address: Address of the property in the sale.
Purchase price
The purchase price is usually expressed in numerical and word forms. Singapore condo for rent.
An example of such a clause:
The purchase price of the Property is Singapore Dollars ___ (S$___) (hereinafter called “the Purchase Price”) plus the Goods & Services Tax (hereinafter called “the GST”), if applicable.
Option Fee
The amount payable is usually 1% of the purchase price. Singapore condo for rent.
An example of such a clause:
IN CONSIDERATION of the sum of Singapore Dollars ___ (S$___) (hereinafter called “the Option Money”) paid by you to me/us, the receipt of which I/we hereby acknowledge, I/we, ___ (hereinafter called “the Vendor”) hereby make the following offer which remains open for acceptance in the manner stated below.
Option Exercise Fee
The amount to be paid on exercising of the option is usually 5% less the option fee. Singapore condo for rent.
An example of such a clause:
The Vendor hereby offers to sell the Property upon the terms set out hereunder and upon your acceptance of this offer by signing that portion of this Option To Purchase marked “ACCEPTANCE COPY” and delivering the same duly signed to the Vendor’s solicitors, M/s. ___ (hereinafter called “the Vendor’s Solicitors”) together with the sum of Singapore Dollars equivalent to ___ percent (___%) of the sale price less the Option Money (hereinafter called “the Balance Deposit”) on or before 4.00 p.m. on the ___ day of ___ 20___ (hereinafter called “the Expiry date”).
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