[CRS-260222] Know Your Sale and Purchase Agreements for Uncompleted Properties To Close More Deals (KSUP)

CPD Category: Professional Competencies under Structured Learning (4 training hours awarded)

Course Duration: 4.0 hours

Funding: Not Eligible for UTAP funding

Course Synopsis:

This course provides real estate salespersons with a practical understanding of the Sale & Purchase Agreement (SPA) and related contractual framework for uncompleted properties or properties under construction. Participants will learn the key provisions prescribed under the Housing Developers (Control and Licensing) Act 1965, including payment schedules, developers’ obligations, delivery of possession, completion procedures, and defects liability periods. The course also highlights common legal pitfalls and compliance risks, enabling salespersons to better support new project sales and avoid potential disputes or complaints. Drawing on the experience of real estate lawyer and CPD trainer Mr Patrick Tan, the course offers valuable insights into real-world transaction scenarios.

Course Objective(s):

At the end of the course, participants / learners will be able to:

• Understand the differences between the OTP for completed properties and the SPA for uncompleted properties, as well as the key provisions under the Housing Developers (Control and Licensing) Act 1965.
• Understand the standard terms of the SPA, including payment schedules, developers’ obligations, delivery of possession, completion procedures, and defects liability periods.
• Recognize common legal pitfalls arising from these contracts and how to avoid them.

Learning Outcome(s):

1. Understand the difference between the OTP for completed properties and SPA for “uncompleted” properties.
   • Basic understanding of the SPA for “uncompleted” properties
   • Difference between the OTP for completed properties and SPA
   • Criteria for issuance of Housing Developer’s Sale / No-Sale license
2. Understand the salient provisions in the OTP/SPA and under the Housing Developers (Control and Licensing) Act 1965.
   • Details of the Developer and Developer’s license.
   • Terms in the SPA
   • Procedural differences in exercising the OTP for completed properties and SPA for “uncompleted” properties.
   • Non-exercise of SPA and the implications
   • Payment schedule
   • Repudiation by purchase and developer’s obligations.
   • Delivery of possession and completion
   • Defects liability period and notice of deductions
3. Understand the common legal pitfalls that may arise from these contracts.
   • Misrepresentation
   • Defects liability
   • Inability to TOP on time

About the Trainer

Patrick Tan, Chief Executive Officer of Fortis Law Corporation.

Mr Patrick Tan is the Founder and Chief Executive Officer of the law firm M/s Fortis Law Corporation. He specializes in commercial litigation and dispute resolution, wealth and legacy management, and real estate. He is an Advocate & Solicitor of the Supreme Court of Singapore, Commissioner for Oaths, a Fellow with the Singapore Institute of Arbitrators, and an accredited Mediator, appointed by the Singapore Mediation Centre and the Primary Dispute Resolution Centre of the Subordinate Courts of Singapore.

Patrick holds a LL.B (Hons) at the University of Nottingham. He received top honours, clinching several academic prizes in land law, company law and partnership law. Whilst at Nottingham, he served as an editor on the editorial boards of the University’s law society and Malaysian and Singaporean Society.