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Process of Buying a Property In The Secondary Market

 

Once found a suitable property, check with own bankers on the market indicative value for the subject property & also own bank loan eligibility.
   arrow-down  Negotiate for the BEST PRICE!

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 INDIVIDUAL (Your real estate agents/negotiators/owners).

   arrow-down  
Appoint good & responsible lawyer to represent you as the purchaser to proceed with the Sales & Purchase Agreement.
   arrow-down After 15 full working days
Sign the Sales & Purchase Agreement and pay the balance 7% of the purchase price.
(*Total has to pay 10% of the purchase price upon signing SPA)
   arrow-down  
 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.
   arrow-down  After 90 days (3 months)
 Take Vacant Possession of your property
(* If transaction can’t be done within 90 days, in the norm, there will be an extension of another 30 days @ the interest rate of 8% per annum.)
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