If you have sold your property in Singapore or are in the process of selling your property, you will need Singapore Property Lawyers to assist you in your Singapore Conveyancing Process.
In a Sale, we will usually assist you in the following (as applicable, not exhaustive):
- prepare an Option to Purchase, Auction Terms, or Sale & Purchase Agreement (as the case may be)
- advise you on the terms of the Option to Purchase
- receive the balance Deposit upon the exercised of Option by the Purchaser
- serve redemption notices to CPF Board and the Mortgagee (Bank or Finance Company) (as the case may be)
- preparation of discharge documents for CPF Board and the Mortgagee (if we are acting for them) or the Mortgagee’s solicitors (as the case may be)
- attending to the execution of the draft Transfer
- keeping track of the timelines on your behalf
- liaising with the Purchaser’s solicitors, CPF Board’s solicitors and the Mortgagee (if we are acting for them) or the Mortgagee’s solicitors (as the case may be)
- preparation of the Completion Account for the Purchaser’s solicitors
- to complete the matter(s) on your behalf
If your property is charged to the CPF Board or mortgaged to a Bank, you will have to redeem all such charges prior to the completion of the sale. Accordingly, we will assist you to serve the relevant notices of redemption on the relevant parties at the relevant time.
However, please note that the CPF Board will usually engage third parties’ law firms to act for them in the Discharge of the CPF Board’s Charge. The Bank (the Mortgagee) may appoint our firm or another law practice to act for them in the the redemption. Such charges incurred by the Board and the Mortgagee are usually borne by you.
Commonly, Banks or Finance Companies may engage our law firm’s (Loh Eben Ong LLP) services to act for them in the same transaction (redemption) (subject to minimal conflict of interest arising), and in that event, there will usually be cost savings to you.
