Transactions involving the purchase of the house to the ground are more complicated than buying a condo, the type of executive apartments, or HDB flat. Residential land may have multiple owners or own by the whole family, and there are restrictions on the sale and purchase, especially regarding foreign ownership. By reading this article you can get the best information about Pullman apartment in Singapore.
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Except for Sentosa Cove, foreign individuals are not allowed to buy land in Singapore without the permission of the government.
The process and cost
An agreement between seller and buyer for the house with land prices began a series of actions that will lead to the passage of the house with a land title from the seller to the buyer. This process consists of the following:
The appointment of estate agent
The first step that a buyer needs to do is to appoint a real estate agent who is very competent. He will act as an intermediary between buyers and sellers during the entire period of the transaction. A competent agent can also act as a consultant to offer legal and financial advice.
The appointment of a lawyer
To deal with the preparation of legal documentation and other legal requirements associated with the transaction.
Option to Purchase
It is an agreement signed by the buyer and the seller, the buyer gives priority over others to buy a house with land property.
Inspection Certificate of Title
It is the only legal document proving ownership of the real estate and should be checked by the buyer's lawyer.