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Lawyer's Corner v2, One-stop centre for any legal queries
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jd4eva
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Mar 20 2012, 01:48 PM
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Getting Started

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need assistance here.
I received a quote for purchasing a property cost 165k, breakdown as below
Sale n purchase agreement = 1605 deed of assignment = 200 form ckht-2 = 200 6% service tax = 120.30
stamp duties on SPA = 40 stamp duty on transfer = 2300 stamp duties on deed of assignment = 40 adjudication = 10 title search = 100 bankruptcy search = 50 administrative charges (developer) = 50 admin charge for change of ownership = 150 faxing, photocopy, telephone, printing = 150 misc = 50 travelling expenses = 150
Total 5185.30
I am keen to know whether this is cheap or can further reduce the cost....
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jd4eva
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Sep 18 2012, 01:19 PM
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Getting Started

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hi there,
would like to ask about the clause in SPA. I am a seller of a property and the selling process has some delay and the lawyer quote me the sentense below:
"Pursuant to Clause 2 of the SPA, Completion Date is 90 days (please refer to definition of days at Clause 22 - working days) from the date of the SPA . Thus, Completion Date is on 5.10.2012 and the Extended Completion Date is 30 days thereafter subject to late payment interest at interest of 8% per annum on unpaid balance from the expiry of the Completion Date till the Balance Purchase Price is paid to the Vendor"
SPA date is 28-May-2012.
the 90-days is referring to 90 "working" days or 90 days including holiday, saturday and sunday?
Pls help to clarify
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jd4eva
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Sep 18 2012, 01:40 PM
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Getting Started

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QUOTE(dariofoo @ Sep 18 2012, 01:26 PM) In any other SPA, it would mean normal days. In fact, completion period is normally measured in months (hence the term '3+1'). It would state 3 months across the board. SPA date 28 May 2012, so 3 months would be 28 August 2012. However, in your SPA, if it is stated '90 days' and 'day' is defined as 'working/business day', then I believe that the purchaser's lawyer has done a huge favour for his client indeed, to your detriment, unfortunately. hi dario thanks for the reply. I check the SPA, in the definition, there did stated BUSINESS DAY means a day (other than a Saturday, Sunday or public holiday) bla bla bla...... however, some of the clauses in SPA stated DAY instead of BUSINESS DAY. Does it mean DAY also referring to BUSINESS DAY?
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