Buying your dream home or selling your old one

Real property, real people, real needs. This is conveyancing. It is the legal process of transferring the rights of ownership or title of a real property, commercial or residential, from one person to another. Buying your first dream home may be the single most important and expensive decision in your life. Selling it later may also be the next big transaction. In between, you may need to refinance your loan, redeem your mortgage or discharge your CPF charge. On the other hand, when a person dies and leaves behind a real property, conveyancing law sets in. Often, after a divorce, a matrimonial property also has to be sold or transferred. Get it right – the first time!

Why do you need a lawyer?

You do not need to sweat out the small stuff. As your conveyancing lawyer, we can help you have a peace of mind by protecting your interests. If you are a foreigner, including a Permanent Resident and intend to buy a landed property, you need approval from the Land Dealings Approval Unit (LDAU). Whether the property is completed or under construction, HDB or private, you should seek legal advice and assistance from the contract stage (Option to Purchase or Sale & Purchase Agreement) to completion, when the keys are handed to you and title registered in your name.

As a first-time purchaser of your dream home, if you are a Singapore Citizen and intend to start a family, an executive condominium may be a good choice. You can apply for a CPF grant of up to $30,000. It will be semi-privatized after 5 years, where Permanent Residents are eligible to buy. After 10 years, it can be privatized and foreigners are allowed to buy. These restrictions do not apply to condominiums and commercial properties. For residential properties, is Additional Buyer Stamp Duty or Seller Stamp Duty payable? Freehold or leasehold, joint-tenancy or tenancy-in-common? Vacant possession or “as is where is”? You need to get it right. Dreams and visions may also change with time. You may want to sever a joint-tenancy. Perhaps, you have a vision to buy a private property or HDB shophouse for investment to collect rental income. As an added value service, we can advise you on the Landlord and Tenant Law and help you draft a Tenancy Agreement to protect your dream and vision.

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