Real estate is a booming and perennial business. Singapore is a fast-growing economy, and most residents are looking to make a significant property investment. Real estate lawyers ensure the expensive purchase is a comfortable and hassle-free experience.
Reasons to Hire a real estate lawyer
Considerations for Buying Real Estate
The Residential Property Act in Singapore governs the purchase of all residential property.
Hence, the primary step is to check your eligibility.
Foreigners require approval first from the Controller of Residential Property.
Lawyers evaluate your position and complete the necessary paperwork for you.
Lawyers also help you research your property and payment options.
They can review your estimate based on the land area and the conveyance process’s cost in return for the legal fees.
Before completing the land acquisition, lawyers can help with the property title and tenure. Usually, it is either freehold or leasehold.
You also need a background on encumbrances, registered proprietors, and holdings.
Contract and Payment
Real estate deals involve several negotiations and transactions until the final contract is drafted.
Lawyers assist you in finalizing the purchase agreement. They can also serve caveats to notify any third parties involved regarding the deal.
Real estate lawyers uphold your interests and ensure the property is certified before you can move in.
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