• Option to Purchase

You have decided to purchase a property. Prepare 1% of the purchase price (as a consideration) in exchange for the Option to Purchase from the seller. Option to Purchase is usually prepared by the seller's (vendor) solicitor or property agent. You are usually given 14 days to decide whether to proceed with the purchase. If you decide to proceed, exercise the option by signing in your solicitor's office and forward it to the seller's solicitor together with another 4% or 9% (agreement between the vendor and purchaser) of the purchase price.

• Offer to Purchase/exercise the purchase

Alternatively, you can ask your realtor to prepare the Offer to Purchase and attention to the seller. Clearly stating the price, sales completion date and others. Terms and conditions can be drafted by your solicitor or your realtor.

• Completion of Sale

From then on, leave it to your solicitor for the completion of the sale, which will be completed in around 8 to 10 weeks time (agreement between the vendor and purchaser). Your solicitor will lodge a caveat on the property, coordinate with the financial institution, CPF board (if applicable), prepare the mortgagor/mortgagee documents.