Complete Guide to Hiring Property Conveyancing Lawyer In Singapore

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When it comes to buying or selling a property, it is important to have a lawyer who can help you through the process. This is especially true in Singapore, where the laws surrounding property conveyancing are complex. If you are looking for a lawyer who can help you with this process, then you need to hire a property conveyancing lawyer.


Property conveyancing lawyers are experts in the field of real estate law. They can help you with everything from negotiating a purchase or sale agreement to handling the transfer of ownership after the sale has gone through. They can also help you with any legal issues that may arise during the transaction.


In this article, we'll give you a step-by-step guide on what conveyancing entails, as well as let you know what you expect from your Conveyancing Lawyer can do for the residential property.

What Is Conveyancing?

Conveyancing is the legal procedure of transferring property ownership from one person to another. It typically occurs when someone buys or sells a property, but it can also apply to other situations, such as property inheritance.

This is a complex and confusing process, particularly for first-time buyers. That's why it's important to choose a solicitor or conveyancer who you feel comfortable with and who can answer all of your questions.

You should also make sure that you understand all of the documents involved in the process before you sign anything. Once everything is signed and sealed, you'll be the proud owner of your new property, In most cases, conveyancing will involve the following steps:

  • Checking that the property is eligible for transfer of ownership. This includes ensuring that there are no outstanding mortgages or legal claims against the property.
  • Negotiating the terms of the sale or resale property and transfer with the other party. This can include agreeing on a price, settlement date, and any special conditions that may apply.
  • Drafting and reviewing the contract of sale or transfer. This document will outline the details of the transaction and should be signed by both parties.
  • Arranging for the transfer of ownership to be registered with the relevant authority. In some cases, this may involve paying stamp duty or other fees.
  • Completing any final paperwork and payments that may be required.

How Are Conveyancing Fees Calculated?

In General, typical conveyancing fees break down is as below:

Type of conveyancing fees

Whom is it payable to?

Professional fees

Lawyer

Solvency/ bankruptcy searches on vendors and purchasers

Ministry of Law

Road line plan search

INLIS via Singapore Land Authority (SLA)

MCST certification

SLA

Mortgage stamping fees

IRAS

CPF lawyer fees and expenses

CPF Board

Title searches

SLA

Legal requisitions

Seven government bodies

Purchaser and bank caveat lodgement for transfer and mortgage

SLA

Transfer registration fee

SLA

Mortgage registration fees

SLA

Bank’s fee for issuance of cashier’s order

Bank


The fees for private property transactions are listed above. For HDB flat or executive condominium (EC) purchases, buyers have the choice of either engaging *HDB acts as the buyer’s legal representative or finding a conveyancing lawyer for this purpose.


As you can see, conveyancing involves a number of steps and can be quite complex. For this reason, it's important to seek professional legal advice before proceeding with any property purchase or transfer. A qualified lawyers team will be able to guide you through the process and ensure that everything is done correctly.

Why Do You Need A Conveyancing Lawyer?

There are a number of reasons why you might need a conveyancing lawyer. Whether you're buying or selling commercial or private property, a lawyer can help to ensure that the entire transaction goes smoothly. It's perfect if you're thinking of entering the property market, a property lawyer can provide excellent advice and guidance.

Conveyancing lawyers are experts in property law, and they can help to protect your interests throughout this process. They can also provide invaluable assistance if there are any disputes over the property.

So if you're considering buying or selling property, it's important to seek professional advice. A conveyancing lawyer can provide an excellent service and help to protect your interests.

Their typical scope of conveyancing works are as below:
JTC transactions
Purchase & Sale of private residential properties and HDB property
Purchase & Sale of Housing Development Board (HDB)
Transfer of Property pursuant to Order of Court
Housing Loan and Term Loans
Residential Leasing
Commercial, Industrial & Retail Purchase & Leasing
Mortgage Loan Refinancing
En-bloc Property Transactions
Sale of Business and Corporate Structuring
Landlord and Tenant matters

What is a Power of Attorney & How to Get it in Singapore?

A Power of Attorney (POA) is a legal document that allows a buyer or seller to delegate their responsibilities in a conveyancing transaction to someone else. The creator of the document is the donor, while the person appointed to act on the donor's behalf is the donee. This involves the assignment of encumbrances, such as mortgages, among other things.


If you are making a conveyancing transaction through a POA, the duration of a POA typically lasts two to six years during which an appointed individual can sign on the appointor’s behalf in a property transaction.

One can Submit the power of attorney and the supporting documents via eLitigation. If you do not have an eLitigation account, visit the LawNet & CrimsonLogic Service Bureau to file in person.

HDB Power of Attorney

There are several situations where an HDB Power of Attorney is required for transactions involving Housing and Development Board (HDB) flats.

You may generally need a Power of Attorney if you are unable to handle certain HDB issues personally for whatever reason, such as if you are traveling overseas for an extended period of time. The duty of the HDB Power of Attorney would be to delegate someone else the power to deal with those concerns on your behalf.


Once the Power of Attorney is registered, your attorney will be able to transact on your behalf concerning the property in question. However, it is important to note that the Power of Attorney does not allow your attorney to sell or mortgage the property; only transactions relating to the property's use and enjoyment are allowed.

How To Choose The Right Conveyancing Lawyer For Your Needs In Singapore?

Many people have the mistakens idea that any lawyer can handle their conveyance of property, but this is not the case.

For someone to be able to properly represent you during the conveyance of your property. They must have extensive experience and knowledge in this area of law. You wouldn't go to a family doctor for brain surgery, so why would you go to anyone other than an experienced conveyancing lawyer when selling or buying a property?

There are many things that an experienced lawyer will do for you that you may not even be aware of. For instance, they will carry out all of the required searches on the property, as well as draft and review the contract of sale.


They will also liaise with the other party's lawyer and settle any outstanding issues that arise. In addition, they will attend to the settlement on your behalf and ensure that everything goes smoothly. Choosing the right conveyancing lawyer is essential to ensuring that your property transaction goes ahead without any hitch.

So, when you are looking for a lawyer to represent you, be sure to choose one with experience in this area of law. This way, you can be confident that you are in good hands and that your interests will be well protected.


The Types of Conveyancing Law Firms You Can Choose From


When it comes to choosing a conveyancing law firm in Singapore, there are a few things you need to take into account.

1. Real estate investment firms: These firms specialize in helping investors purchase and sell property. They can also provide guidance on the legal aspects of real estate transactions.

2. Legal associate firms: These firms provide support services to lawyers, such as drafting legal documents and conducting research. They can also assist with conveyancing matters.

3. Commercial law firms: These firms advise businesses on various legal matters, including contracts, employment law, and intellectual property rights. They can also assist with conveyancing tasks related to commercial property transactions.


Frequently Asked Questions


Do I Need To Engage A Lawyer When I Sell My Property? Why?

When it comes to legal matters, it is always better to be safe than sorry. Engaging a lawyer when selling your property can help to ensure that all legal documents are in order and that you are not inadvertently breaking any laws.

Furthermore, lawyers have a wealth of experience and knowledge in the purchase & sale of private property and HDB property, transfer of Property pursuant to the order of the court, Commerical, Industrial & Retail Leasing, Mortgage loan refinancing matters and can offer valuable advice on how to best protect your interests.

Finally, engaging a lawyer gives you the peace of mind of knowing that you have someone on your side who is solely concerned with your best interests.

Is Cheaper Necessarily Better?

When someone asks if he/she is looking for a conveyancing lawyer to help him/her buy/sell a house, these are the few questions they should ask.

First, what is the quality of the service that you will receive from the firm? Second, what is the list of deadlines that you need to be aware of? Third, how much experience does the firm have in handling similar transactions? and is the conveyancing law firm in the bank panel list of the approved firms to act on behalf of buyers?

When it comes to quality of service, you should expect nothing less than professionalism and expertise from any firm that you choose. After all, your transaction is an important one and you want everything to go smoothly. As for the list of deadlines, make sure that the firm you choose is familiar with them and can help you meet them.

Do I need a lawyer to sell my HDB?

Before you sell your HDB, you need to ask yourself these questions:


1. Have you fufilled your flat's Minimum Occupancy Period (MOP)?
The MOP is calculated from the date you collected the keys to your plat. 

In general, flats purchased through HDB or resale flats bought from the open market with the CPF housing grant have a MOP of 5 years. As the MOP duration varies based on your flat's purchase method, flat type, and date of application approval, check with HDB to determine if your particular flat has an MOP duration.

Take note that the MOP excludes:

  • Any period when you do not occupy the flat (e.g. when the whole flat is rented out); and
  • Any period where there has been an infringement of the flat lease


2. Selling part of your HDB flat lease instead of the entire flat
If you are from:

  • An elderly household where all the owners are 65 or older; and
  • You live in a 4-room or smaller flat,


You may want to consider selling part of your flat through HDB's Lease Buyback Scheme (LBS) rather than selling the whole property. You can sell part of your lease to HDB and choose to keep it based on the age of the youngest owner under this scheme.


When you sell part of your flat's lease, you will receive a cash payment to top up your CPF (RA) account. You may then invest the cash in a CPF LIFE plan, which will provide you with a lifetime monthly income. This will allow you to get an income from your apartment while still living in it throughout your retirement years.

For above transaction, you can choose to appoint *HDB to act for you in the conveyancing or hire a private conveyancing lawyer to act on your behalf


HDB legal fees is as below:

First $30,00013.5¢ per $100 or part thereof
Next $30,00010.8¢ per $100 or part thereof
Thereafter9.0¢ per $100 or part thereof
Note: The minimum fee is $20.

 

Read also: What Happens When You Default on a SME Business Loan? 
Read also: Will Singapore Home Loan Interest Rate Reach 6% In 2023?


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