Buy Guide

Property Search
Find the suitable property
Once you found the property of your choice, make an offer by filling in the Letter of Offer provided by your real estate agent
Pay an initial deposit (earnest deposit), usually 2% or 3%
Vendor (seller) will then acknowledge the acceptance of the offer by signing on the acceptance column of the Letter of Offer.
By now, vendor has the right to forfeit your deposit if you go back on your word. Otherwise, the vendor will have to refund your deposit plus a penalty of equivalent amount if he or she goes back on his or her word.
Apply for Financing
You may now proceed to apply for a financing package that best suits you (optional)
You may also seek the help from real estate agent to assist you on this matter
Sale & Purchase Agreement (SPA)
It is your duty as a buyer to appoint a solicitor to prepare the Sale & Purchase Agreement
Once this agreement is ready, both vendor and buyer are required to sign it before sending it for stamping
By now the buyer will have to pay the remaining of the first 10% down payment to the vendor
Balance of 90% Purchase Price
As a buyer, you are given three months for settling the balance of 90% purchase price
However, an extention of one more month is allow but an interest calculated on daily basis will charged to the buyer
Delivery of Vacant Possession
Completion of unconditional SPA
Payment of balance purchase price
Conditions precedent like consents from state authority, foreign investment committee etc