Jul 15 2015, 09:57 PM
QUOTE(janng @ Jul 12 2015, 04:17 PM)
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.
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
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