Developers who are selling commercial properties in a building containing more than 4 separate units before the issue of the certificate of statutory completion and subsidiary strata certificate of title are also required to use the prescribed Option to Purchase and Sale and Purchase Agreement.
Any variations to the standard terms and conditions in the prescribed forms have to be approved by the Controller.
To facilitate developers’ request for amendments to the prescribed forms, the Controller has pre-approved a list of amendments which are frequently requested for and
approved. A developer may adopt any of the pre-approved amendments without seeking further approval from the Controller.
Developers are required to maintain a register in the prescribed format showing the particulars of those persons who have obtained Options for the purchase of their residential/ commercial properties.
Vary Terms In Prescribed Forms
