Buying & selling

Caveat

A caveat is a legal notice lodged with the Singapore Land Authority (SLA) by a buyer to protect their interest in a property, usually soon after exercising the Option to Purchase or signing the sale and purchase agreement.

CSC

A Certificate of Statutory Completion (CSC) is issued by Singapore's Building and Construction Authority (BCA) when a building has met every statutory requirement and has all the clearances it needs.

Joint Tenancy

Joint tenancy is a way for two or more people to own a property together, in which all the co-owners together own the whole property rather than separate shares.

OTP

An Option to Purchase (OTP) is a document in which a seller gives a buyer the exclusive right to buy a property at an agreed price within a fixed period, in return for an option fee.

Property Valuation

A property valuation is an independent estimate of what a home is worth.

S&PA

A Sale and Purchase Agreement (S&PA) is the contract that sets out the price, payment schedule and completion terms when you buy a property.

Sub-sale

A sub-sale is the sale of a private home by someone who bought it from the developer (or from an earlier buyer) before the development received its Certificate of Statutory Completion and strata titles.

TOP

A Temporary Occupation Permit (TOP) is the permit from Singapore's Building and Construction Authority (BCA) that allows a new building to be occupied once it is safe and fit to live in, even if some technical clearances are still outstanding.

Tenancy-in-Common

Tenancy-in-common is a way for two or more people to own a property together in which each co-owner holds a separate, distinct share, such as 60% and 40%.