Schedule G and H for Sale and Purchase Agreement PDF

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Own research for the Sale and Purchase Agreement of Schedule G and Schedule H. Their similarities and differences....

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Student Name: KOH YONG KWANG External Supervisor: Ms. YAP SIEW HUAY

Research Title: The difference between Schedule G and Schedule H of the Housing Development (Control and Licensing) Act 1966.

As we know, in order to make a person lawfully purchase a housing property, there is a must for them to go through and sign the Sale and Purchase Agreement. Hence, in order to safeguard the purchasers, there have different Schedules for Sale and Purchase Agreement are provided under the Housing Development (Control and Licensing) Regulations 1989. Housing Development (Control and Licensing) Act 1966 (hereinafter refer as “HDA”) is a legislation which can provide the protection to the house purchaser against the developers. This is because “HDA” required the developer to lawfully obtained and owned their developer licence and advertising and sales permit before the housing developer able to proceed and sell the properties to the public. For example, the housing developers required to state their name of the housing development and their licence number and validity date, the selling price of the housing accommodation and others. These Schedules for Sale and Purchase Agreement provided by the “HDA” can be differentiate into two types of concept which are “Sell-then-build” concept or “build-then-sell” concept.

“Sell-Then-Build” Concept For Schedule G, it is used for the sale and purchase of a housing property which is together with the subdivision of the land which stated under the sale and purchase agreement. It can be apply to the bungalow, semi-detached housing and terrace house. This Schedule G can be understand as sale and purchase of both land and building and it is the concept of “sell-then-built concept”. For the purchaser who sign the sale and purchaser agreement under this Schedule G, the individual title will issued to them and the plot of land and building will be under their name. The purchaser will sign the Borang14A (transfer form) in order to let the housing developer to transfer the housing property to the purchaser. Besides, the purchase price to be paid to the developer progressively based on status of construction and in accordance to the stipulated schedule of payment. This Schedule G also protect the rights of purchaser as it ensure that the developer to bear the responsibility to repair any defect or faults in the property which are due to developer’s defective workmanship. Furthermore, the relevant approved plans of the property such as floor plan, site plan and others are required to attached in the Sale and Purchase Agreement.

Student Name: KOH YONG KWANG External Supervisor: Ms. YAP SIEW HUAY

For Schedule H, it is mainly for the “high-rise” property. Hence, for those who are interested to purchase the property that are of a condominium style development, he or she will sign the Sale and Purchase Agreement as follow the Schedule H. Inside the Sale and Purchase Agreement for “high-rise”, the purchaser’s property or unit will be marked with the highlighter to show that it is their property. At the same time, there will also show the purchaser’s existing parcel such as the parking space or other building that is sold together with the property. Inside the Schedule H, it also will require the developer to list out the common properties which can be known as the spaces or development that will be share with the others purchaser. Such common properties can be known as garden, gym room, swimming pool and others. Hence, for those who interested to purchase the condominium, apartment or landed strata property, Schedule H will be the form of the Sale and Purchase Agreement. The strata title then will be issued to the purchaser by the land office. Hence, the purchaser will sign the Borang14A (transfer form) in order to let the housing developer to transfer the housing property to the purchaser. Similar to the Schedule G, this Schedule H also ensure that the developer take the responsibility to repair any defect or faults in the property which are due to developer’s defective workmanship.

“Build-Then-Sell” Concept Schedule I and Schedule J both apply the concept of “built-then-sell”. For Schedule I, it is for the sale and purchase of a completely built landed property from the developer. Similar to the Schedule G, the purchaser will get the individual title for such housing property. The purchasers are able to see the fully completed unit before deciding to buy the property or not and this can helps the purchaser to avoid the problem of abandoned housing projects or delays in repairing the defects and poor house quality.

For Schedule J, it will be for the purchase of strata property which is completely built by the developer. The purchaser then will get the strata title for their such property. The purchasers are also allow to see the fully completed unit before deciding to buy the property.

Student Name: KOH YONG KWANG External Supervisor: Ms. YAP SIEW HUAY

Similarity of Schedule G and Schedule H Matter

Schedule G & Schedule H

1. Concept

Both of them apply the “Sell-Then-Build” Concept

2. Method to pay the

Both of them are able the purchaser to paid the money to

purchase price

the developer progressively based on the status of construction and in accordance to the stipulated schedule of payment.

3. Late delivery

Both of them share the same calculation method for the late

interest

delivery interest. (Purchase Price x 10%) x (delay day / one year)

4. Defects or poor

Both of them able to get the protection form the HDA, and

quality

the developer required to repair the such defects and poor quality.

5. Purchase Price

Both of them required to list out the actual purchase price in the Sale and Purchase Agreement.

6. Late Payment

Both of them share the same calculation method for the late

Charges

payment charges.

7. Approved Layout

Both of them attach the approved layout plan and building

Plan and Building Plan

plan in the Sale and Purchase Agreement.

Differences of Schedule G and Schedule H Matter

Schedule G

Schedule H

1. Title

The purchaser will get the

The purchaser will get the

Individual Title for his or her

Strata Title for his or her

property

property.

This Schedule G apply to the

This Schedule H apply to

Semi-Detached House,

the “high-rise” property

Terrace House and

such as apartments, flats

Bungalows

and condominiums.

3. Period for the

24 months from the date of

36 months from the date of

Property to be

Sale and Purchase

Sale and Purchase

completed

Agreement.

Agreement.

4. Management Unit

Did not involve the

Having the management

2. Type of Property

Student Name: KOH YONG KWANG External Supervisor: Ms. YAP SIEW HUAY

management unit.

unit to control the safeguard of the property.

5. Common Properties

The rightful purchaser will

The purchasers are required

not have common properties

to share the common

to be share with other

properties with other

purchaser as it was under

purchase. It involves the

Individual Title. It did not

common facilities list in the

involve the common facilities

Sale and Purchase

list in the Sale and Purchase

Agreement.

Agreement. 6. Form of Charge

This Schedule did not attach

This Schedule will attach

Statement

the Form of Charge

the Form of Charge

Statement in the Sale and

Statement in the Sale and

Purchase Agreement.

Purchase Agreement....