A vendor (my friend) want to sell his property to another to get some financial assistant from the purchase by cash and the vendor needs the money urgently. However, when the lawyer conducted a land search and it shows that the property still under the name of developer. The property is a terrace house and by right the property can get its strata title from the land office very fast. This vendor had purchased the property in 2012 and until now the title still have not been registered under his name.
The vendor eagerly wants to sell his property out now and is there any ways for him to do so as the property is not under his name so he cannot sign the SPA now?
Can the purchaser pay the purchase price and enter a caveat while waiting for the title to be transfer to the vendor's name? or is there any suggestion for the better ways to settle the sale and purchase?
Please advise, thank you.
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asked on Jan 30, 2018 at 16:17
edited on Feb 20, 2018 at 02:12
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