Dear all sifus,

Im currently in the process of purchasing a subsale property and my lawyer is in the midst of preparing SPA with the vendor lawyer

There is one clause as below:

Vendor’s Solicitors shall furnish its calculation of the late payment interest and apportioned outgoings to the Purchaser’s Solicitors together with copies of all current receipts evidencing full payments towards the outgoings in respect of the Property up to the Delivery Date within 2 working days of the Completion failing which the Vendor shall not be entitled to withhold delivery of vacant possession on the ground of non-payment of such amount

Does anyone understand what's the sentence below means as the seller would like it:

"within 2 working days of the Completion failing which the Vendor shall not be entitled to withhold delivery of vacant possession on the ground of non-payment of such amount"

Thank you.

once u paid your balance of the purchase price, the seller lawyer must calculate the apportionment of outgoings

apportionment of outgoings mean the calculation of the amount the seller would like the buyer to reimburse for excess amounts paid, such as maintenance fees, quit rent (paid yearly), assessment (paid twice a year: jan-jun & jul-dec), building fire insurance (paid yearly) etc

if the lawyer unable to give that calculation within 2 working days from your full payment of the balance purchase price, they cannot use "you havent reimburse the seller yet" as a reason not to handover the keys to you (because they haven't calculate yet, how can they ask u to pay?)

It should be made clear that upon completion date all apportionments
as evidenced by the relevant receipts and documents as submitted by vendor/vendor lawyer must be finalized simultaneously and settlement
be done at the same time upon handover of keys. It could also be earlier as long as the receipts have been presented as well.

This is because the purchaser may delay or not pay for the apportionment after taking the keys.. - well, it has happened before ..

- in the end the vendor may be left out of pocket as vendor lawyer may not followup and purchaser lawyer may say purchaser did not settle the amount.


Based on TS's query - it says that if the purchaser did not settle the apportionments vendor must also give the keys without delay - err.. if I am the vendor
I will not accept.

This post has been edited by nookie188: Aug 2 2018, 08:50 AM