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 Buying property together for Unmarried Couple, Need advice and sample of agreement

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kochin
post Jun 24 2013, 08:28 AM

I just hope I do!
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10,314 posts

Joined: Dec 2009
From: Malaysia


pre-nuptial agreements?
am no loyar but a layman's thinking to these issues:

Point No 2 : If one party refuse to serve the instalment, what are the actions/ remedies available to counter such situation?
perhaps you can word in the agreement that in the event one of the parties failed to serve the installment or late by x no. of days, the other party would automatically be deemed to have waived their interest on the property and hence the other party would have the first right of refusal to purchase from the defaulting party at market valuation rate.

Point No 4(b) If either party disagree with the selling price for selling to third party, what are the solutions available?
that is the beauty of agreements. you can't disagree. but to be fair, you may word it that the selling price would be based on average valuation of 3 reputable valuation firms versus the offer price. and the offer price shall not deviate from the average valuation price by more than 20%.

cheers!
kochin
post Jun 24 2013, 11:49 AM

I just hope I do!
********
All Stars
10,314 posts

Joined: Dec 2009
From: Malaysia


if i guess it correctly, the property is only within reach if both combined forces to buy.
meaning the property should be quite pricey.

and my second guess is as of now, the female could potentially be earning more than the male.

and my third guess is they are both relatively young with good incomes and are professionals.

but just my guesses lah... biggrin.gif

 

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