What is a conveyancing lawyer?
Conveyancing involves the transfer of legal ownership of a property from one individual to another.
Conveyancing lawyers can guide you throughout the property buying or selling transaction process. They possess expertise in various aspects, including negotiating purchase or sale agreements and managing the transfer of ownership following a successful transaction.
Moreover, they are equipped to address any legal matters that may emerge throughout the process.
Recommended article: Property Conveyancing in Singapore: What You Need to Know
What does a conveyancing lawyer do?
A conveyancing lawyer can support you by:
- Creating the necessary conveyancing contracts, including the Option to Purchase (OTP) and the sale and purchase agreement.
- Acting as a witness during the contract signing and engaging in negotiations with the other party’s lawyer.
- Facilitating communication and coordination with relevant parties, such as banks and government authorities, including the Central Provident Fund (CPF) Board, the Singapore Land Authority (SLA), the Housing Development Board (HDB), and the Inland Revenue Authority of Singapore (IRAS), among other responsibilities.
Do I need a conveyancing lawyer?
If a buyer of an HDB flat is not using a bank loan for the purchase, HDB will serve as the buyer’s legal representative. HDB sets its costs and fees, which can be determined using the calculator.
However, HDB buyers with a bank loan to finance the flat purchase and private property buyers must engage a private law firm to act as their legal representatives for the conveyancing process.
99.co also has several calculators that may be useful for calculating fees and mortgage loans. For example, our mortgage calculator lets you determine your mortgage repayments based on property value, tenure, loan-to-value ratio and interest rate.
