Foreign buyer for LDAU and Landed OTP

Question: Foreign buyer for Landed property in Singapore, what approval and the OTP?

Answer: Non Singaporean citizens cannot buy landed residential without the Minister’s approval. If the buyer is a foreigner, he will need LDAU approval. So the option must be carefully worded to include this. Also the time line needs to be considered whether the whole deal falls thru if approval not obtained by a certain date or whether parties agree to extend completion to allow for an appeal.

The OTP must include LDAU term and ⁠once buyer agree to OTP terms, then put down 1% option fee. The ⁠option cannot be exercised until LDAU approval obtained, this needs to be written in the OTP. ⁠Once LDAU approval obtained and option exercised then completion as normal.

The above is for discussion purpose only and is not a legal advise