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 Things to expect during house-key passing process?

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TSwacky
post Feb 23 2010, 02:21 PM, updated 16y ago

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Hi Forumers,

I have purchased a sub-sale house recently and is expecting to collect the key from the vendor soon. I assume that the settlement of the outstanding fees will be settled then, key will be passed to me in the lawyer office and the final cheque payment to be passed to the vendor of the house by the lawyer.

What are the things that I should look out for? Things to expect during the meeting with the vendor and the lawyer ( such as documents , bills , etc )?

Appreciate your feedback very much because the vendor seems inco-operative and wants to charge us late payment fees due to the fact that it's already the 5th month ( usually 3+1 month to settle the outstanding payment to vendor) and she has not received the final payment from us yet. However, it is not our fault, rather it is the lawyer's fault because he has delayed his work. FYI, this legal firm is the panel lawyer for the bank which I borrow from, and I (purchaser) and the vendor of this house is also using the same lawyer. Thanks in advance.
paige.pc
post Feb 24 2010, 09:58 AM

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Its okay to get the same lawyer as the vendor cos in any case the lawyer is also acting on behalf of you as the purchaser.

Things need to aware of upon receiving the keys are
Bills as all the maintenance fees should be cleared. ( if its a condo )
All the SPA , Deed of Assignment , Loan Agreement , Power of Attorney is stamped and with you or lawyer.
A Title if its strata or individual.

I guess thats about all.

leongal
post Mar 24 2010, 01:41 PM

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hey there, just want to share my experience since my property transaction has now completed.

my case: sub sale and condo unit; i got my keys directly from the seller's lawyer

what you need to get from your lawyer after that?
- loan agreement
- any documents that your lawyer send to developer, seller's lawyer and bank (they should have cc. you at the same time when they send out to them, if you haven't receive any, get from them)
- any payment (official) receipts
- copies of receipts of utilities bills payments - to proof that the seller has paid all the utilities
- the chronology of events during the transaction (whether the seller will refund you some back is a different story all together)
- the calculation of how apportionment of quit rent, assessment and maintenance fees

smile.gif hope this helps


 

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