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Requesting for Quotation on Conveyancing
Services |
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If you are
buying a property, selling one or merely refinancing, you would have to
engage a law firm to assist you. Law firms are usually engaged for such
services through words of month or recommendation. You should also consider factors such as
reputation of the firm, its experience, before and after sales service. |
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However, if you are considering
engaging our services and require a quotation (we believe that is why you are
here), we would appreciate that such request for quotation be for genuine and
sincere purposes. |
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It should be borne in mind that
costs should not be the only consideration in engaging a law firm to act for you
in a property transaction. |
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Sale of Property (including
Redemption of Mortgage / CPF Charge) |
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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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prepare an Option to Purchase, Auction Terms, or Sale & Purchase
Agreement (as the case may be) |
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advise you on the terms of the Option to Purchase |
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receive the balance Deposit upon exercise of Option by the Purchaser |
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serve redemption notices to CPF Board and the Bank/Finance Company
(as the case may be) |
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preparation of discharge documents for CPF Board and the Bank's
solicitors (as the case may be) |
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attending to the execution of the draft Transfer |
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keeping track of the timelines on your behalf |
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liaising with the Purchaser's solicitors, CPF Board's solicitors and
Bank's solicitors (as the case may be) |
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preparation of the Completion Account for the Purchaser's solicitors |
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to complete the matter(s) on your behalf |
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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 and the Bank
(the Mortgagee) will usually engage third parties' law firms to act for them
respectively for the discharge/redemption. Such charges are 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. |
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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 Convyeyancing procedures may be quite confusing, and there are
contractual |
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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. |
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Redemption of Mortgage /
CPF Charge |
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In respect of the Mortgage of your Property, you may wish to repay fully
your loan, or your loan with the lending bank has been fully paid. In these
scenario, you may need to appoint a law firm to liaise with the Mortgagee (Bank
or Finance Companies) on the redemption or discharge of the Mortgage and prepare
the relevant documentation. |
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in respect of the CPF Board's Charge over your Property, you may have
reached 55 years' of age (retirement age), and wish to discharge the Charge over
the property. In this case, you may need to appoint a law firm to liaise with
CPF Board and its lawyers on the discharge of the CPF Charge and prepare the
relevant documentation. |
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Refinancing of Mortgage Loan
/ Re-Mortgage / Fresh Mortgage |
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With the low interest rates currently offered by
Banks and Finance Companies for Housing Loans, property owners may be
considering switching their existing Mortgage to another Bank or Finance Company
which is offering more attractive loan packages. Refinancing of private
properties has seen a phenomenon growth in the mid 1990s. |
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If your property is currently not mortgaged, you may wish to obtain
credit facilities from a Bank which is to be secured by a fresh Mortgage
over your property in favour of the Bank. |
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In a refinancing/mortgage of a property, there are usually the following
stages (not exhaustive):-
1. Redemption of Existing Mortgage (Property with existing Mortgage)
2. Approval from CPF Board & Documentation (Property with existing CPF
Board's Charge)
3. Fresh Mortgage with new Mortgagee |
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