Purchase of landed residential property by foreign persons – Singapore house for sale/ rent
Where the purchase of residential property by a foreign person is restricted or prohibited by the Residential Property Act, it is also stated in the CEA Practice Guidelines that the Option to Purchase orSaleand Purchase Agreement shall provide that it is subject to approval from the Controller of Residential Property (Land Dealings (Approval) Unit,SingaporeLand Authority). Singapore house for sale/ rent.
An example of such a clause is as follows:
Where the Purchaser is not a Singapore citizen, the purchase of the Property shall, where applicable, be subject to the Purchaser obtaining written approval from the Controller of Residential Property, Land Dealings (Approval) Unit (LDAU) to purchase the Property. If the approval from LDAU is not granted within six (6) weeks from the date of this Option to Purchase, the Vendor shall refund all monies paid under this Option to Purchase without interest to the Purchaser and this Option to Purchase shall become null and void and neither party shall have any claims against each other.
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