I have written an article “Secret formula to win the property game” in my book No B.S. Guide to Property Investment. One of the 4 key factors in this secret formula is to build a winning team. In this team, you need a good conveyancing lawyer.
An experienced conveyancing lawyer can advise you the right way to handle legal matters in managing your wealth.
A meticulous conveyancing lawyer never fails to warn you any term in the contract that put you in a disadvantageous position.
A good conveyancing lawyer could save you from all the costly mistakes in your property deals that would have cost you an arm and a leg.
It always costs less money to stay out of legal trouble than it does to get yourself out of legal trouble. Use your lawyer to avoid costly mistakes.
– David J. Decker and George G. Sheldon, The Complete Idiot’s Guide to Real Estate Investing Basics
Mr. Sim Mong Teck founded his legal practice Sim Mong Teck & Partners back in 1994. He was my conveyancing lawyer in the year 2004. Back then his firm was already a leading player in conveyancing.
Last month I contacted Mr. Sim again. I told him that I set up a neutral platform called Property Club Singapore and all the seminars and workshops we have done. He asked me why I am doing all these that are not making money (I get this question very often). I said that’s my social responsibility.
I actually wanted him to help address all the common legal concerns of our fellow property buyers and owners in our next event. Then I read out my long list of property-related legal questions. We wanted to hear from him some real-life case studies. And I already booked the venue on a Saturday afternoon!
To my surprise, Mr. Sim immediately asked his assistant to check his availability (despite being the boss of a successful legal firm, he’s a nice guy with no air). But to answer all my questions, he probably need two full days. So we narrowed down to 3 main areas that many clients come to him for help:
1) Ownership Decoupling
– Knowing the financial impact, legal implications and the process
2) Legal Document
– Understanding terms in Option to Purchase, Sale & Purchase Agreement and Housing Loan Agreement
3) Family Legacy Planning
– Passing on properties, assets and wealth to the next generation
Mr. Sim said many people have made wrong assumptions and ended up in big troubles. That’s why we need to focus on these 3 topics and spend more time to explain in details.
Below are some of the questions he would answer at the Understanding Legal Issues In Real Estate Education Seminar:
• How to avoid paying Additional Buyer Stamp Duty for your second property?
• Which terms in the agreement can be changed and what can’t be changed?
• What happen if you withdraw purchase of completed versus uncompleted properties?
• What to take note when buying Auction and Mortgagee Sale properties?
• What are the common mistakes when people leave assets to their next of kin?
• How to protect your family’s well-being and enjoy peace of mind in years to come?
Here is the link to the seminar. Join us on April 8 if you want to hear about all the property legal advice from an experienced conveyancing lawyer.
See you there!