Drafting SPA

CONSIDERATION

- In terms of payment, it would be similar to SPA involving property with individual title.
- Whenever mentioned amount, you must clear abt the amount, when the payment should be
made, to whom etc.
- When a purchaser pays deposit to solicitor, the s will hand over to the vendor only portion
of it and the balance will be kept by the solicitor for RPGT purposes.
- Vendor do not hv to raise the redemption sums.

Completion date

- Date where must complete all the legal obligations; the vendor must transfer to the
purchaser and handed the keys of the house. The purchaser: must be able to pay the price.

Extended completion date

- If payment is made in extended completion date, the purchaser must bear the interest.
- Solicitor will provide a time frame for the vendor to do certain date to avoid the purchaser
from complete the purchase price in period of extended completion date.
- To make sure there is no delay on the part of the vendor to submit related documents to the
purchaser that in consequence will affect the purchaser where he/she might need to
purchase within extended completion date.

Redemption

- Guide the party on how the property to reassign

Vacant possession

- Must be deliver on or before the completion date.

- If vacant possession is not delivered before the completion date, purchaser has right to
impose interest on the delay. Party need t agree on the rate (6-10%- common rate)
- commence on the until the delivery of vacant possession.
- You can made the delivery of the vacant possession simultaneously with the payment of
balance of purchase price.

Letter of disclaimer of interest

- If the master title is charge in case the developer not able to disclose the loan to the bank.

Sale process
 - Preparation draft of SPA > vetting and approval on draft SPA > prepare fair copies of the SPA
> execution > simultaneously, the payment of deposit to stakeholder > stamping of SPA >
delivery of master title

Notification to the developer

- For the purposes of informing the developer the intended transaction and for getting their
consent and agreement and to note all related document.

RPGT

- Tax implication son the vendor.

Instrument of conveyance

- Prepare document in int

Loan/ financing

- 2 types of financing: Islamic/conventional loan

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