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Procedures/Steps to be Taken After Signing Sale and Purchase

 
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CyrusChang



Joined: 06 Nov 2010
Posts: 49

PostPosted: Wed Oct 26, 2011 11:57 pm    Post subject: Procedures/Steps to be Taken After Signing Sale and Purchase Reply with quote

Procedures/Steps to be Taken After Signing Sale and Purchase Agreement

Property With Title Case

Before/upon the signing of the Sale & Purchase Agreement (SNP) by both parties, the steps that should be taken by the Solicitors are:-

1. Prepare the Draft of the SNP.
- Do Land Search to know the ownership & details of the Property.
- Prepare Documents.

2. Fair the SNP & Documents.

3. Both Parties i.e. the Purchaser and the Vendor sign the SNP and also settle the legal fees & disbursement.

4. Solicitors to witness and date the SNP.

5. Purchaser's Solicitors to send the SNP to the Stamp Duty Officer for stamping.

6. Purchaser's Solicitors to enter caveat on behalf of the Purchaser.
- in case the Property need consent, the Vendor's Solicitors have to apply for the consent upon receipt of all relevant Documents.

7. The Original & Duplicate SNP shall be forwarded to Purchaser for safe keeping.
- the duplicate SNP shall be forwarded to Vendor's Solicitors.

8. When the Purchaser's loan has been approved, the Financier's Solicitors shall write to SNP's Solicitors informing which Financier they are acting-for.

9. ....

..investmalaysiaproperties.blogspot.com/2011/10/proceduressteps-to-be-taken-after.html
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hfchuraymond



Joined: 11 Jun 2009
Posts: 606

PostPosted: Wed Nov 09, 2011 6:54 pm    Post subject: 14 days dateline not exhaustive Reply with quote

General guidelinea are sufficient.

Just a note on the 14 days dateline.

In practice, this is one area where the circumstances vary accordingly.

Any practitioner can say 'yeah' to this.
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