DRAFTING SPA

HDA NON - HDA

SPA No prescribed
SCHEDULE G form
AND H

Vendor solicitor
Purchaser’s
shall prepare
solicitor shall
SPA (BC Ruling
entitle to SPA. See
16.1)
Regulation
11(2)(4)
 CONTENT OF SPA
Sale and consideration Completion Purchase Price Documentation

RPGT Default VP, Apportionment passing of risk Inspection

Representation Compulsory
Warranties & Acquisition Time of
Variation
Undertaking by Vendor Essence
 Continued…
Cost and Successors
Notice Mediation clause
disbursement bound
RPGT – REAL PROPERTY GAINS TAX
INDIVIDUAL DISPOSAL
1. Within 3 years – 30%
2. In 4th year – 20%
3. In 5th year – 15%
4. In 6th year & thereafter – 0%
NON CITIZEN DISPOSAL
1. Within 3 years – 30%
2. In 4th year – 30%
3. In 5th year – 30%
4. In 6th year and thereafter –
5%
Description of Property
e.g. Principal SPA, Developer’s
Execution of Deed
Beneficial owner, Strata confirmation
Of Assignment
Title has not been issued pursuant to s. 22D of
by authority HDA

Notice of Assignment
Deposit of Certificate from JMB
to developer on
document
completion
 PRE-CONTRACT STAGE (FINAL)
After the draft Execution Date SPA and then stamp
SPA has been
agreed upon
by parties Purchaser will After all parties have
sign SPA signed, purchaser’s
and MOT/DA, solicitor will stamp
Pair copies as the case may
and purchaser be
will first sign
and prepare
deposit or
balance
deposit
 CONTRACT STAGE
I.E AFTER SPA DATED AND STAMPED
ACTING FOR VENDOR
-File CKHT 1A and 3 (if applicable)
-Prepare vendor’s LU if no existing
charge
-Deliver the said LU, SD upon
receipt of difference sum and
purchaser’s financier’s LU to pay
loan sum
-Upon receipt of loan sum, give VP
and apportionment of outgoings
-Vendor to terminate utilities
accounts
LU – Letter of undertaking
SD – Statutory Declaration
MOT – Memorandum of Transfer
MOC – Memorandum of Charge
ACTING FOR PURCHASER
-File CKHT 502 and CKHT 2A
-Lodge caveat
-adjudicate MOT
-Ensure loan documentation is ready
-Payment of difference sum
-Stamp MOT
-Forward purchaser’s financier LU to vendor
-Obtain vendor’s LU to financier and SD
-Obtain completion documents
-Present MOT and MOC to land office for
registration
-Release loan within completion date
LOAN TRANSACTION
 POST COMPLETION STAGE

Registration File change of File change of

and collection name like name with
of title assessment – management
Form I corporation if the
strata title is out
CONVENTIONAL ISLAMIC

With interest e.g. FA, Followed Shariah law, riba is

LA, Charge or DA prohibited. On profit sharing
basis e.g. PPA, PSA, and Charge
or DA
 Before drawdown
Letter of
Letter of
offer from Stamped LO Study SPA
Instruction
Bank

Execution Searches
Buy Searches
of the on titles
security on
security like
DOC parties
doc consent
 LOAN TRANSACTION FLOW
BEFORE DRAWDOWN
-Includes investigation, prepare and execute loan documentations

DRAWDOWN
-After execution, get hold of all security documents

AFTER DRAWDOWN
-Presentation and registration and safekeeping of security
documents
 Continued
Obtain letter of
Notify vendor confirmation from Any
on loan Status of MOT vendor that redemption
obtained difference sum sum
paid

If yes, to
obtain
Forward
redemption
Release loan purchaser Obtain vendor’s LU
cum
before financier’s LU to refund and SD
undertaking
completion date to vendor to on bankruptcy
from existing
release loan
/vendor
financier
 DRAWDOWN
Redemption required
-signed security doc.
-stamped MOT
-ensure supporting doc. for
registration of MOT and MOC like
AR and QR
-obtain redemption statement cum
undertaking from existing/vendor
financier
-lodge caveat
-advise bank to release partial for
redemption
-obtain title, duplicate charge from
existing financier
-present discharge, MOT and MOC
-release balance loan
Redemption not required
-signed security doc.
-stamped MOT
-ensure supporting doc. for registration of
MOT and MOC
-confirm difference sum paid
-forward bank’s LU to pay loan to vendor
-obtain vendor’s LU to bank to refund
-obtain title from vendor
-present MOT and MOC
-release full loan
• Any consent to charge