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About Home Purchase


Equipped with professional knowledge and proven experience in Mortgage Services, we provide Home Purchase Procedure and Frequently Ask Questions (FAQs) to help you make home-purchasing much easier.

Home Purchase Procedure

What process is involved with buying a property?

Buying a property under Construction

Steps (Days required) Procedure
Step 1
  • Choose a desirable property.
Step 2(3 - 14 Days)
  • Sign the Preliminary Sales & Purchase Agreement and pay the initial deposit.
  • Apply for a mortgage loan from a bank, get property valuation and choose a solicitor.
Step 3(30 - 60 Days)
  • Sign the Formal Sales & Purchase Agreement at solicitor's office and pay the deposit and stamp duty.
  • Approval from bank on mortgage loan application.
Step 4
  • Sign the Equitable Mortgage Agreement, Trust Deed and other legal documents at the solicitor's office; pay the balance of the property value, solicitor's fees and other related expenses.
  • Drawdown of approved bank loan amount to pay part of the property price.
Step 5(Note the construction progress)
  • Prompt settlement of loan repayment by instalments or sale of property for repayment.
Step 6(14 - 30 Days)
  • Receive occupancy permit.
  • Sign all official documents, including the Formal Sales & Purchase Agreement at solicitor's office, settle related expenses, check the property and move in.

Buying a Completed Property

Steps (Days required) Procedure
Step1
  • Choose a desirable property.
Step2(7 - 14 Days)
  • Sign the Preliminary Sales & Purchase Agreement and pay the initial deposit.
  • Apply for a mortgage loan from a bank, get property valuation and choose a solicitor.
Step 3(30 - 60 Days)
  • Sign the Formal Sales & Purchase Agreement at solicitor's office and pay the deposit and stamp duty.
  • Approval from bank on mortgage loan application.
Step 4
  • Sign the Assignment, Mortgage Agreement, Trust Deed and other legal documents at the solicitor's office; pay the solicitor's fees, pay the balance of the property value and other related expenses.
  • Drawdown of approved bank loan amount to pay part of the property price.
Step 5
  • Take over the property and move in.
  • Prompt settlement of loan repayment by instalments or sale of property for repayment.