Property Hunter Magazine Issue 63- February 2015 | Page 38
CONTRIBUTOR| Chris Tan
Chris Tan
Lawyer Specialising in
Real Estate
Chris Tan is the founder and now
Managing Partner of Chur Associates,
a boutique legal practice that thrives in
delivering business friendly solutions for
its clients and having a niche positioning
of ‘Everything Real Estate’ serving the
entire value chain from the upstream
to the downstream. Chur Associates
is a boutique legal firm founded in
2004, specialising in designing legal
solutions catered to our clients’ needs.
Chur Associates’s brand promise is “We
Deliver!” To that end, they offer clientsthe
necessary means and methods to
ensure their requirements are met.
THE ROLE OF A
LAWYER
IN A PROPERTY
TRANSACTION
You can get in touch with him at
Facebook: Chur Associates
Email: [email protected]
LEGAL TIPS AND TRAPS
Y
ou have just found yourself a dream home, or a
potential property for investment. But not long
after your initial excitement, you soon realize
that the sweet joy of owning that plot of real
estate isn’t as forthcoming as you thought. Instead, you
are left completely baffled by the long and confusing
process involved in property transactions. In fact, you
really have no clue what to do next! Then, dear future
homeowner, you should look no further than to your
lawyer for assistance.
As a purchaser, you can enlist your lawyer to assist you
in each stage of the property transaction:
Stage 1: Understanding the Property
Stage 2: Pre-contract Negotiations
Stage 3: Execution of Sale and Purchase Agreements
Stage 4: Assisting in Financing Arrangement
Stage 5: Discharge and Redemption
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Stage 6: Transfer of Land
Stage 7: Apportionment and Follow up
Typically however, investors and purchasers alike tend
to engage a lawyer only during the stage of execution
(signing) of the Sale and Purchase Agreement. Instead,
they should maximize the service of their lawyers by
bringing them into the picture as early as possible. No
extra cost will be incurred by doing so, because the
legal fees are governed and fixed to scale.
STAGE 1: UNDERSTANDING THE
PROPERTY
Before actually deciding to buy, a potential purchaser
should seek and gain an in-depth understanding
of the property. This goes beyond a mere physical
examination of the building in question, and