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 Cannot amend S&P, is it legally right?

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TSflyturtle
post Jun 11 2016, 10:27 AM, updated 10y ago

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Dear LYN forumer, recently i purchase a new developed property that due to VP on 2018, however during signing of S&P the lawyer said we cannot admend anything from S&P agreement. My question is , is it really legal to do so? Arent the lawyer suppose to safeguard buyers interest?
Jasoncat
post Jun 11 2016, 03:02 PM

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QUOTE(flyturtle @ Jun 11 2016, 10:27 AM)
Dear LYN forumer, recently i purchase a new developed property that due to VP on 2018, however during signing of S&P the lawyer said we cannot admend anything from S&P agreement. My question is , is it really legal to do so? Arent the lawyer suppose to safeguard buyers interest?
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It's a standard document governed under the HDA - no amendments by either party (developer or buyer) shall be done.
jason1986
post Jun 14 2016, 11:48 AM

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If it is a residential property, the SPA will be prescribed under the Housing Development (Control and Licensing) Act, it is a standard form of SPA and no amendments to the clauses will be allowed unless the developer has obtained the written consent of the authority.

The prescribed SPA under HDA is to protect the interest of the purchasers.

What can be amended are the details that are being filled in into such SPAs, your name, ic, address, parcel details, purchase price etc.

If you are using the developers lawyers, note that they are acting for the developer and not you.
shaniandras2787
post Jun 15 2016, 11:50 AM

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QUOTE(flyturtle @ Jun 11 2016, 10:27 AM)
Dear LYN forumer, recently i purchase a new developed property that due to VP on 2018, however during signing of S&P the lawyer said we cannot admend anything from S&P agreement. My question is , is it really legal to do so? Arent the lawyer suppose to safeguard buyers interest?
*
If you are purchasing a residential property directly from the developer then the sale and purchase agreement to be utilize is already statutorily fixed, Schedule H of the Housing Development Act. Nothing can be amended from there unless consent from the housing authority is obtained and usually the only clause that gets amended is the time for delivery of vacant possession.

Trying to amend the Schedule H is like trying to amend the law. Thus, nothing illegal here because it is done according to the law.

Unless you are purchasing a property through a sub-sale transaction then it would be absolute bollocks if the solicitors told you the agreement cannot be amended but still it cannot be termed illegal. It's just lazy. There's currently no law now to impose an obligation for solicitors to MUST amend sub-sale agreements and this is in line with the century old concept of "freedom to contract".

Bear in mind that the solicitors attending to your execution of the Sale and Purchase Agreement is NOT REPRESENTING YOU. They are representing the developer and assisting you. Ever wonder why developer bears your legal fees for the transaction?

If at all, the solicitor's duty lies with the developer.
WahBiang
post Jun 16 2016, 08:54 AM

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QUOTE(shaniandras2787 @ Jun 15 2016, 11:50 AM)
If you are purchasing a residential property directly from the developer then the sale and purchase agreement to be utilize is already statutorily fixed, Schedule H of the Housing Development Act. Nothing can be amended from there unless consent from the housing authority is obtained and usually the only clause that gets amended is the time for delivery of vacant possession.

Trying to amend the Schedule H is like trying to amend the law. Thus, nothing illegal here because it is done according to the law.

Unless you are purchasing a property through a sub-sale transaction then it would be absolute bollocks if the solicitors told you the agreement cannot be amended but still it cannot be termed illegal. It's just lazy. There's currently no law now to impose an obligation for solicitors to MUST amend sub-sale agreements and this is in line with the century old concept of "freedom to contract".

Bear in mind that the solicitors attending to your execution of the Sale and Purchase Agreement is NOT REPRESENTING YOU. They are representing the developer and assisting you. Ever wonder why developer bears your legal fees for the transaction?

If at all, the solicitor's duty lies with the developer.
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For my case, I only asked the lawyer to amend the expiry date of the leasehold period but this was rejected by the lawyer as she mentioned that this is not allowed.

Other buyers signed the SPA earlier before the land leasehold period was renewed, however for my purchase of this under-construction project is 1-2 years later where the land leasehold period had been renewed/extended. So I thought the SPA should reflects the new leasehold period. To me is weird that my SPA still need to follow the previous expiry date even though we're aware that such period has been extended.
shaniandras2787
post Jun 16 2016, 09:38 AM

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QUOTE(WahBiang @ Jun 16 2016, 08:54 AM)
For my case, I only asked the lawyer to amend the expiry date of the leasehold period but this was rejected by the lawyer as she mentioned that this is not allowed.

Other buyers signed the SPA earlier before the land leasehold period was renewed, however for my purchase of this under-construction project is 1-2 years later where the land leasehold period had been renewed/extended. So I thought the SPA should reflects the new leasehold period. To me is weird that my SPA still need to follow the previous expiry date even though we're aware that such period has been extended.
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Ah! if the amendment in which you seek is not on the terms or conditions and only on the particulars of the master title itself then i do not see the rationale behind the rejection.

Anyway, when was the lease renewed? was it before or after you have executed the Sale and Purchase Agreement?

These "other buyers" you said, are they engaged in the same solicitors' firm as you? If yes then question the solicitor why was yours rejected. If the solicitor cannot give you a compelling reason and is merely telling you "cannot" then probably you need to tell the solicitor that you'll bring this matter to the developer and perhaps the developer can give you a satisfactory answer.

FYI, the amendment of the renewed lease period may not be material but if you are going for the sake of accuracy then by all means because the standard schedule H states that you will be purchasing the property with all express/implied conditions that will be tied to it.
WahBiang
post Jun 16 2016, 12:26 PM

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QUOTE(shaniandras2787 @ Jun 16 2016, 09:38 AM)
Ah! if the amendment in which you seek is not on the terms or conditions and only on the particulars of the master title itself then i do not see the rationale behind the rejection.

Anyway, when was the lease renewed? was it before or after you have executed the Sale and Purchase Agreement?

These "other buyers" you said, are they engaged in the same solicitors' firm as you? If yes then question the solicitor why was yours rejected. If the solicitor cannot give you a compelling reason and is merely telling you "cannot" then probably you need to tell the solicitor that you'll bring this matter to the developer and perhaps the developer can give you a satisfactory answer.

FYI, the amendment of the renewed lease period may not be material but if you are going for the sake of accuracy then by all means because the standard schedule H states that you will be purchasing the property with all express/implied conditions that will be tied to it.
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The lawyer fee is bear by developer and the same law firm is appointed. Other buyers signed in 2014, lease renewed in 2015, and I signed mine in 2016, project to be completed in late 2018. Lawyer giving the reason that the SPA need to be consistent with other buyers, but since she managed to provide me with the proof that the lease had been renewed, I just signed it.

shaniandras2787
post Jun 16 2016, 05:08 PM

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QUOTE(WahBiang @ Jun 16 2016, 12:26 PM)
The lawyer fee is bear by developer and the same law firm is appointed. Other buyers signed in 2014, lease renewed in 2015, and I signed mine in 2016, project to be completed in late 2018. Lawyer giving the reason that the SPA need to be consistent with other buyers, but since she managed to provide me with the proof that the lease had been renewed, I just signed it.
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like i said, it won't affect your rights as the beneficial owner to the particular parcel but if you're super particular when it comes to details like it then you may bring it to the developer and make it an issue but this will cause significant difficulties in the future when you want to deal with this solicitor.
WahBiang
post Jun 16 2016, 05:20 PM

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QUOTE(shaniandras2787 @ Jun 16 2016, 05:08 PM)
like i said, it won't affect your rights as the beneficial owner to the particular parcel but if you're super particular when it comes to details like it then you may bring it to the developer and make it an issue but this will cause significant difficulties in the future when you want to deal with this solicitor.
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Agreed, so I just let it be.. else my MOT etc...
peri peri
post Aug 9 2016, 11:40 AM

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QUOTE(flyturtle @ Jun 11 2016, 10:27 AM)
Dear LYN forumer, recently i purchase a new developed property that due to VP on 2018, however during signing of S&P the lawyer said we cannot admend anything from S&P agreement. My question is , is it really legal to do so? Arent the lawyer suppose to safeguard buyers interest?
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you want to amend or you scare developer will amend

but anyhow, nothing you can safeguard your self

there are thing called supplementary agreement.

 

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