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You are here: Home Property and Real Estate Sale of Property (including Redemption)

Sale of Property (including Redemption)

Published on 13 April 2010
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This is for users who wish to sell or are in the process of selling their properties.
   
In a Sale, we will usually assist you in the following (as applicable, not exhaustive):-
 
   
arrowblue prepare an Option to Purchase, Auction Terms, or Sale & Purchase Agreement (as the case may be)
arrowblue advise you on the terms of the Option to Purchase
arrowblue receive the balance Deposit upon the exercised of Option by the Purchaser
arrowblue serve redemption notices to CPF Board and the Mortgagee (Bank orFinance Company) (as the case may be)
arrowblue 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)
arrowblue attending to the execution of the draft Transfer
arrowblue keeping track of the timelines on your behalf
arrowblue 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)
arrowblue preparation of the Completion Account for the Purchaser's solicitors
arrowblue 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 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.
   

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