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What happens during a conveyancing transaction and what can I expect? -

Nov, 02

A lawyer who fulfills all stated requirements would contact you for an appointment to exercise the contract. You are required to bring your personal documents, which will be conveyed to you prior. Before the agreed completion of the transaction, any supplementary documents required could be further submitted to the secretary in charge of your case, who will assist your lawyer to liaise with the other party to work towards a smooth completion.

Nearing completion, the seller will grant vacant possession to the buyer when the property in question is in occupying condition. From hereon, the buyer can inspect the property for any defects and should any defect be found, the buyer should raise it to the seller then and there.

Upon completion, buyers will receive the keys to their new home, certificate of title, as well as a transfer form for the new ownership.

You can expect the law firm to consolidate all documents and correspond with all stakeholders in your transaction. For example, the developer, seller’s lawyer, Bank, Central Provident Fund (CPF) Board, Inland Revenue Authority of Singapore (IRAS) etc.