#1: Top Blind Spots when Buying a Property in Singapore (ft. Cannis Seng)

We spoke with Cannis Seng from BR Law Corporation on the top blind spots that most buyers and sellers tend to miss out when buying and selling a private property in Singapore.

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Chapters

• 1:45 Things to look out for before paying the 1% option fee
• 4:00 Can you back out after signing OTP?
• 7:42 Is there a way to verify the size of a property?
• 9:45 What does it mean when a caveat is lodged?
• 13:51 Do you have to back pay your ABSD?
• 18:19 Advice on preventing it from happening
• 20:24 What happens if the seller does not want to complete the deal halfway into the completion phase?
• 22:25 Talking about caveat emptor clause
• 23:39 What can be done as a buyer to protect themselves and mode of recourse
• 25:55 Best practices before paying the option fee
• 31:06 Talking about seller’s point of view
• 31:14 Talking about Seller's Stamp Duty
• 32:55 What if the seller fails to pay seller's stamp duty?
• 35:08 What are the risks and pitfalls the buyers and sellers have to look out for?
• 39:41 Talking about buying properties in trust
• 40:16 Can you take a loan if your child is below 21 years old?
• 41:05 When can they sell the property?
• 42:49 What happens to the money after selling the property?
• 43:45 Can the parents use the money?
• 45:52 Important things the trustee have to take note
• 48:18 Key takeaways