Some key tips for buying condominium properties in Singapore – Part 2 – Laywer and Financing
Treasure at Tampines share with you some key tips for buying condominium properties in Singapore. This is the part 2 of the article. Find part 1 here.
Get in touch with a local lawyer
It’s one thing to get the purchasing and inventory end of the whole real estate buying process handled by a professional property agent. It’s another to entrust that person with the legalities. When it comes to deals that involve hundreds of thousands of dollars or possibly even 7 figures, you can’t hope for the best when dealing with legalities.
You need to get professional help. This is where a local Singapore lawyer, who knows local property law like the back of his hand, will come in handy.
This person should be able to give you the rundown on the kind of legal documentation that is required, the steps involved in buying real property in Singapore as well as your duties, responsibilities, and privileges according to Singapore law. This is quite a handful.
While you can get valuable property law information from a professional real estate agent, they can only give you the basics. If you want to drill down and have a really clear understanding of what your duties and obligations, and rights are, you need to get in touch with a real estate attorney.
The good news is so many ex-pats are in your exact position. This is why there’s quite a number of Singapore attorneys that specialize in ex-pat property sales. You shouldn’t have a problem finding somebody with the high degree of specialization and experience needed to ensure that your upcoming condominium purchase will be smooth and hassle-free.
Get your finances ready
Chances are if you’re reading this, you already have everything lined up in terms of dollars and cents. With that said, just because you’re capable of paying and you’re willing to buy right now, that is enough.
You have to make sure that, if your money is in your home country, that the proper bank to bank transfer process is followed. This is crucial. You have to be clear as to what the fees are as well as the overall procedure of transferring money from one country to Singapore.
Don’t find out in the worst way possible. A lot of ex-pats find out that they have to pay a very high fee for transferring money to Singapore. Well, it turns out that if they had only planned it out the right way or went through a specialist bank or used a particular service, they could’ve saved thousands of dollars.
Don’t let this happen to you. Prepare your finances, explore your money transfer options, and get in touch with your real estate agent so they are in the loop. This way, when it comes time for you to sign the dotted line, the money will get to where it needs to go right on time.
Keep the tips above in mind when you’re buying condominiums or properties in Singapore. It’s a lot more complicated than you think. While you can pick among available units fairly quickly, the process can be expedited with a little bit of advanced planning. Hope this article shared by Treasure at Tampines, will help you neil down a suitable condominium property.
