Sale of Property (including Redemption)
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This is for users who wish to sell or are in the process of selling their properties. | ||||||||||||||||||||||
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In a Sale, we will usually assist you in the following (as applicable, not exhaustive):- | ||||||||||||||||||||||
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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. | ||||||||||||||||||||||
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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. | ||||||||||||||||||||||
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Commonly, Banks or Finance Companies may engage our firm's (Loh Eben Ong & Partners) services to act for them in the same transaction (redemption) (subject to minimal conflict of interest), and in that event, there will usually be cost savings to you. | ||||||||||||||||||||||
Purchase of Property (including Mortgage / CPF Charge)
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Purchasers are usually more anxious as they may be unsure of the many rules and procedures of the contractual and Conveyancing process in a property transaction. To a lay person, the Conveyancing procedures may be quite confusing, and there are various contractual legal issues. |
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Please visit our Property FAQs for more information. It is advisable to engage a law firm prior to entering into a purchase (except for purchase of uncompleted properties from Licensed Developer). Your lawyer will usually conduct initial searches such as the title search on the property and bankruptcy/winding up search on the Seller, and will advise you on the terms and conditions of the Option to Purchase / Sale and Purchase Agreement. |
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If you are using your CPF Funds to part-finance the purchase price or for housing loan monthly instalments, please note that CPF Board will engage another law firm to act for them in the CPF Charge, and such costs and expense will be borne by you. We will however assist you in the CPF Fund application, and act for you in the CPF Charge. |
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If you are obtaining a loan from a Bank (or Finance Company) to part-finance the purchase price, you may wish to check with them whether they may engage our firm in the same Mortgage transaction (same representation). We are usually appointed by many local/foreign Banks/Finance Companies to act for the them in the same Mortgage transactions (subject to minimal conflict of interest), and in that event, there will usually be costs savings to you. If there are separate representation, the costs and expense (borne by you) will usually be higher. |
