How To Choose a Conveyancing Lawyer

Introduction

Whether you’re buying or selling a house/ property in Singapore, you’ll probably have to appoint a law firm to represent yourself.These law firms or lawyers are conveyancing lawyers and actually help to perform a number of administrative functions on behalf of their clients.

Conveyancing law firms in Singapore range from sole practioners to large multi-national law firms, such as Allen & Gledhill or Rajah & Tann. With the difference in prestige and firm size, there arenaturally differences in prices as well, solo practioners can charge as low as a couple thousand dollars while large firms may charge tens of thousands for a simple transaction.

 

What A Conveyancing Lawyer Does For A Property Buyer

Before Signing Option to purchase

  • Help to ensure that the contract has fair terms and conditions that are relevant to your specific situation and requirements. Getting a conveyancing lawyer only after the option to purchase may allow sellers or agents to put forth terms that are very much to their advantage.

  • Ensures that sellers own the property and can sell the property to you. They also help to check other details such as plot size and remaining tenure. They also assist in liasing with the seller’s lawyer to exercise the option to purchase and set up the conveyancing account.

 

After Signing Option to Purchase

  • Assist with application to use CPF funds for the purchase of property

  • Search to ensure there are no legal concerns with the property

  • Send legal requisitions to relevant government bodies/ agencies/ departments

  • Help to ask the seller questions to obtain all relevant property information 

  • Check any formal legally binding contracts to ensure all necessary terms are included

  • Provide a detailed breakdown of deposit, fees, stamp duty, taxes and payment schedule

  • Prepare all required documents for the transfer of the property

  • Ensure that the bank/home loan provider has sent sufficient monies to complete your purchase.

  • On the date of completion, the purchase monies will be sent from the buyer’s lawyer to the seller’s. The buyer will then receive the keys to the property.

Legal Fees

The figures below represent an estimate for a property purchased worth $2 Million or less

Professional Legal Fees

$2,000 - $2,500

GST

7% 

Home Loan Stamp Duty

$500

Conveyancing Account Fees

$200 - 400

How To Choose A Conveyancing Lawyer

 

In Singapore, immovable property or real estate transactions are handled by Singapore Property Lawyers (also called Conveyancing Lawyers or Conveyancers). The Property Lawyers will usually conduct requisite searches, draft contracts or option to purchase, liaise with the other party’s solicitors, etc.

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