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 [Seller] Sharing laywer by buyer for SPA, is it ok?

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TSwestlife
post Oct 8 2023, 06:03 PM, updated 3y ago

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is it safe to do so as a seller?

does this really save cost comparing to hiring my own laywer for the SPA?
how much and what can i save by doing so?
Dothan
post Oct 8 2023, 06:41 PM

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Based on my personal experience, I suggest don't do it because 1 lawyer firm handle both seller and buyer may drag the whole process.

It is best to let 2 lawyer firms play their own part.
TSwestlife
post Oct 8 2023, 06:43 PM

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QUOTE(Dothan @ Oct 8 2023, 06:41 PM)
Based on my personal experience, I suggest don't do it because 1 lawyer firm handle both seller and buyer may drag the whole process.

It is best to let 2 lawyer firms play their own part.
*
i tot it should be faster since it does not go thru 2 firms??

but does this case that the seller can save on the lawyer cost?
Dothan
post Oct 8 2023, 06:51 PM

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QUOTE(westlife @ Oct 8 2023, 06:43 PM)
i tot it should be faster since it does not go thru 2 firms??

but does this case that the seller can save on the lawyer cost?
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Cheaper by few % discount but you risk to get the whole buying selling process dragged.
nihility
post Oct 8 2023, 06:53 PM

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Market go ppl doing it but not advisable. If want to share, ask them to use your lawyer.

Your lawyer is to protect your interest. The opponent lawyer is to protect the opponent”s interest. If want to share, I”ll insist to use my lawyer, else we go to separate lawyer.
mini orchard
post Oct 8 2023, 07:09 PM

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Is not advisable for anyone lack conveyancing knowledge and legal jargons.
vicky.max
post Oct 8 2023, 07:10 PM

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Yes, faster and cheaper.

Assuming that it's a straightforward deal.

If you foresee any dispute on the deal, better to segregate the lawyers.
TSwestlife
post Oct 8 2023, 07:16 PM

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QUOTE(Dothan @ Oct 8 2023, 06:51 PM)
Cheaper by few % discount but you risk to get the whole buying selling process dragged.
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Ic. How long urs had been delayed due to this?

Could it be ur individual lawyer film’s issue?
TSwestlife
post Oct 8 2023, 07:17 PM

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QUOTE(vicky.max @ Oct 8 2023, 07:10 PM)
Yes, faster and cheaper.

Assuming that it's a straightforward deal.

If you foresee any dispute on the deal, better to segregate the lawyers.
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I see. May I know how much cheaper?

Will the SPA follows some kind of template that by rite all SPAs the content should not be so much difference?

This post has been edited by westlife: Oct 8 2023, 07:18 PM
mini orchard
post Oct 8 2023, 07:50 PM

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QUOTE(westlife @ Oct 8 2023, 07:17 PM)
I see. May I know how much cheaper?

Will the SPA follows some kind of template that by rite all SPAs the content should not be so much difference?
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Few hundreds for discharge of bank loan and or lease consent.
TSwestlife
post Oct 8 2023, 08:11 PM

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QUOTE(mini orchard @ Oct 8 2023, 07:50 PM)
Few hundreds for discharge of bank loan and or lease consent.
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It is still thousands I need to pay as a seller?

Mine is freehold.

This post has been edited by westlife: Oct 8 2023, 08:11 PM
mini orchard
post Oct 8 2023, 08:16 PM

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QUOTE(westlife @ Oct 8 2023, 08:11 PM)
It is still thousands I need to pay as a seller?

Mine is freehold.
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Since the seller is not represented, I didn't pay anything because my property is fully settled and freehold.
TSwestlife
post Oct 8 2023, 08:27 PM

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QUOTE(mini orchard @ Oct 8 2023, 08:16 PM)
Since the seller is not represented, I didn't pay anything because my property is fully settled and freehold.
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Ic.

My house is still under Maybank home loan.
thickface
post Oct 8 2023, 08:31 PM

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Use your own lawyer. If process dragged, you lose even more money. Saving that little sum of money sharing lawyers will not be favourable. Later you might get dispute of replacing certain items in your house prior to handover.

 

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