19Apr
By: chucknorris On: April 19, 2018 In: Education Comments: 0

Once found a suitable property, check with own bankers on the market indicative value for the subject property and bank loan eligibility.

Negotiate for BEST PRICE!

Next Step

Once agreed on the purchase price and the conditions of the transaction, place 3% of the agreed price as Earnest Deposit for the subject property to the Vendor’s (Seller’s) appointed real estate agency and NOT TO ANY INDIVIDUAL, i.e. real estate negotiators or vendor himself.

Next Step

Engage good and responsible lawyer to represent you as the Purchaser to draft and explain the Sale & Purchase Agreement (SPA).

After 15 full working days

Sign the SPA and pay the balance 7% of the downpayment.
(* Total downpayment is 10% of the purchase price upon signing SPA.)

Next Step

Your banker will proceed with the financing of your property and at the same time your lawyer will proceed with the transfer of ownership of the property.

Next Step

After 90 days (3 months)

Take Vacant Possession of your property.
(* If transaction cannot be done within 90 days, as per the norm, there will be an extension of another 30 days at an interest rate of 8% per annum.)