Home Buyer (General) : Legal

Q1: What does my conveyancing lawyer have to do for me when I purchase a property?
Q2: Can I change lawyers before the transaction process is completed?
Q3: Can I engage the same lawyer as the seller?
Q4: Can I ask my lawyer to give me a discount for his legal costs?
Q1: What does my conveyancing lawyer have to do for me when I purchase a property?

The duties of your lawyer are the following:

* BEFORE YOU PAY THE OPTION MONEY AND SIGN THE OPTION TO PURCHASE

1) Title Search: to verify and confirm the property's ownership before advising you     whether or not to pay or sign the option to purchase

2) Make a bankruptcy or winding-up & judicial management search: to check that the     seller is not in the bankruptcy list or winding up judicial management list

3) Option or Sale Contract Check: to make sure that the terms of the contract are     fair and agreeable to you

* AFTER YOU SIGN THE OPTION TO PURCHASE

1) Caveat Lodge: to make sure that another person cannot make any deals with your    property.

2) Make an official enquiry on the Title with the seller's lawyer: a detailed check is     made on the Title of your property to ensure that it is in order.

3) Send official enquiries to various government departments: to find out whether     there is any legal obstacle on the property.

4) Prepare for transfer documentation: prepare the transfer in your favour, send them     to the seller's lawyer for approval, and then engross the document.

5) Preparing or vetting the mortgage loan and/or CPF Board documentation: contact     your banker & the CPF Board for the necessary documents .

6) Notify the Management Corporation: (if a strata titled property is purchased) the     MC will be notified, and particulars of the maintenance and service charges     obtained

7) Completion Account - inform you that you have to get ready the necessary     payments.

8) Completion - after making a final search to confirm that that the Title is free from     any encumbrances, your lawyer will arrange and meet all parties involved to     exchange the documents, payments and keys.

 

Q2: Can I change lawyers before the transaction process is completed?

Yes, the outgoing lawyer has to hand over to the newly appointed lawyer all the relevant papers. However, you will have to pay the outgoing lawyer for any work already done. If not, the outgoing lawyer may exercise his right of possession and thus delay the handing over process.

Q3: Can I engage the same lawyer as the seller?

Yes. There is no law in Singapore that prohibits a lawyer from acting for both the vendor (except if he is a developer) and purchaser concurrently. However, it is not advisable to use the same lawyer in the transaction as there may be the problem of conflict of interest.

Q4: Can I ask my lawyer to give me a discount for his legal costs?

No. giving discounts may be seen as a gimmick used by the lawyer to attract business unfairly.
 
 
 
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