P202S0161 – SALE OF UNCOMPLETED PRIVATE RESIDENTIAL PROPERTIES



LEARNING OUTCOMES:

Apply the provisions in the Housing Developers (Control & Licensing) Act (HDCLA) and Housing Developers Rules, relating to:

  • Properties covered by the Act
  • Sale and no-sale licence
  • Duties of developers
  • Mandatory information on housing project to be provided to intending buyers, including scaled floor plans and breakdown in unit floor area
  • Controls on advertisements
  • Standard OTP (including its contents)
  • Standard S&P agreement (including its contents) e.g. buyers’ obligations on payment schedule
  • Interpret the respective stakeholder’s rights and duties at various stages of a property transaction, e.g. OTP, S&P agreement, Temporary Occupation Permit (TOP), legal completion (cross-refer to Paper 2, Unit 4.3)
  • Procedure for sub-sale
  • Remedies for breach by seller and buyer e.g. shortfall in floor area,