I am selling a property. please help answer these question Q1. who prepare the SnP, the purchaser or vendor lawyer?. Q2. if the purchaser lawyer prepares the SnP, do i need to engage a lawyer to go through the terms? or can i go through the terms myself and if satisfied agree as prepared. Q3. if the purcahser lawyer prepares the SnP and i dont have a lawyer , must i pay anything to the purchaser lawyer? Thank you.

You need a lawyer to ensure you're protected. My purchase completed with 3 weeks ahead with good lawyer. So, must find a good lawyer.

Q1 - it depends on whether you engage your own lawyers. If you engage your own lawyers, both the purchaser's lawyers and your lawyers will negotiate and come up with a draft SPA for parties approval.

Q2 - It will be best to engage a lawyer. If you tag along with the purchaser's lawyers, you are basically unrepresented. Not advisable unless you are well versed with the terms and conditions and procedures.

Q3 - if you do not engage a lawyer, you will not have to pay the legal fees for drafting of SPA. However, as the purchaser's lawyers will assist you in other matters such as, redemption of the existing loan, filing of CKHT forms, applying for state consent etc where applicable, you will still need to pay for those.

My advise is to get a good lawyer to represent you so that your interest will be protected.

good advice..

I have done both - generally if its a straightforward case and the buyer's lawyer is not the "difficult" type, I will just use the buyer's lawyer to
save cost. Having said that, please be sure you are able to vet through the SPA to ensure that your interests are protected ...

just to give an example if its a leasehold property and the buyer is a foreigner I will use my own lawyer..

There's no rule to govern either vendor or purchaser's lawyer to prepare the draft SnP. Either party to start the draft will do.

If you think you're really well versed on all the important terms of SnP, yes you can. Secondly, you really need to followup tightly on the whole procedure of the SnP if you're unrepresented. Such as once send in to request redemption letter, you need to ensure the redemption letter is ready within the time frame. Or else it would extend the completion period. Buyer's lawyer might write in to request but they might not push for you. So ended up it would extend the time frame.

Not this only, there's much more procedural part that you need to take note if you're unrepresented. Again, ensure you're well versed on the whole entire procedure if you opt to not appoint any lawyer. Good luck!

This post has been edited by Tavia88: Jul 15 2015, 09:58 PM

I thank everyone for the comments posted. I am now waiting for the letter of confirmation from the developer confirming that the property is indeed mine since a liquidator is involved. For a subsale i have to get a letter of confirmation for the buyer. a letter of offer has been signed and waiting for the S&P to be drafted and signed.No RGPT involved because the property is more than 5 years and no redemption since the property was bought by cash.
My question is when do i filled the CKHT?
and when to apply for state consent?

I thank everyone for the comments posted. I am now waiting for the letter of confirmation from the developer confirming that the property is indeed mine since a liquidator is involved. For a subsale i have to get a letter of confirmation for the buyer. a letter of offer has been signed and waiting for the S&P to be drafted and signed.No RGPT involved because the property is more than 5 years and no redemption since the property was bought by cash.
[/B] My question is when do i filled the CKHT? can i filed it myself?
and when to apply for state consent?[

Anytime can. Your property got strata title already or not?