Prior to buying or selling a property in Singapore, there are a number of regulatory and legal obligations that buyers and sellers should take note of. A few of these requirements include (but are not limited to):
Property tax: A tax payable on all Singapore properties.
Title deed: A document proving ownership of a property.
Stamp duty: A tax payable on documents related to the sale or purchase of a property.
Sales and purchase agreement (SPA): A legal document outlining the terms and conditions of the property transaction.
Seller's stamp duty (SSD): A tax that sellers who dispose of their properties within a set time after purchase must pay.
Working with a licenced and trusted property consultant or agent is important when it comes to the legal and regulatory aspects of purchasing or selling your property. This is because they are able to offer guidance and make sure that all relevant documents and contracts are in place.