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Hi Cari,

Doing homework prior to committing to a purchase is important. It seems that you have no idea on what is to be expected. Google more about the purchase procedures on HDB or URA website depending on the type of property you are purchasing. As for lawyers, you can easily find 1, but since you'll be applying for home loan, likelihood for the banks to tie down with lawyers will be there.

Good luck for your purchase.

Regards,
Geryl LIM
Real Estate Consultant
CEA Reg R014783H
Mobile: +65-81577565 
Email: lim.geryl@yahoo.com.sg Read More

Afternoon Cari,

I'm surprised by your questions. Being a DIY buyer, you didn't get you homework done in advance? Are you sure that you are financially able to proceed with the purchase?

Every banks have their own set of lawyers to work with. As for the deposit, it would depend on how much loan you can get and how much CPF you have at hand.

You are required to pay 1% of purchase price as Otpion Fee, if it's private property. And exercise the balance with your lawyer.

FYI
Mike Lim
 96929209 
ERA Read More

Hi Carl,

I suppose you have already placed a 1% deposit to the seller and now the seller's agent is waiting for you to exercise the OTP within 14 days.

Usually when you take up a mortgage loan with a bank, they will refer you to their panel of law firm, so that part not to worry. After your loan is approved and you sign the Letter of Offer (LO), the banker will arrrange for you to go to law firm to exercise the OTP by placing another 4% deposit.

I actually just consolidated the interest rates of most banks for my buyer. If you would like to know the best interest rates in the market now, pls call me at 98628691  . Not to worry, no charges involved. :)

Thanks.
Ander ERA Read More

You can engage an agent .
www.catherinepang.com Read More