Owning your dream house or selling your property to reap huge profit is a wonderful experience but are you famililiar with your rights as the buyer or seller of properties especially from the secondary market? Secondary market means  buying from an existing owner. It is important to learn on the legalities of buying and selling to fully understand the rights of an investor to maximise the profit.

Things that you need to do when buying your secondary property :

1) Conduct search of the property title to ensure that the seller is the legal owner.

2) Consult the lawyer from the beginning and not after you have paid the deposit or signing the S&P.

3) Get details  on the property, the deadline for the payment, the penaltty for non payment, and the rules of termination if you fail to secure your loans from the bank.

4) The sales process will be deemed complete after the full amount is paid by the bank if you are taking loans. If you failed to get your loan approved, the 10% deposit will be forfeited and the agreement will be terminated.

5) If the seller promises you the furnitures or fittings, make sure it is included in the contract as you may take legal actions on the seller if the items are missing.

6) Upon full payment of purchase price, you can start with your renovation work or rent it out to other people.

7) Taking loans from the bank prevents you to sell your property immediately at least for the period of 6months. Flipping your property quickly could only happens if it is a cash transaction.

Things that you should know if you are the seller:

1) Avoid handing over the keys after signing S&P and receiving 10% deposit. If it is unavoidable, come up with a tenancy agreement until the title is handed over to the buyer.

2) Do not just leave everything to the buyer’s lawyer, watch out for the terms and condition.

3) If your property is a hot item, you can state your wish to release to the other buyer if money is not released withing the promised time frame.

4) Take note on when you would be free from paying your installments and other bills.

Good news to all as HLA (Hong Leong Assurance) Cash Builder Series has been launched. Your long awaiting savings plan with annual guaranteed income starting from the first year towards maturity has been designed to cater your financial needs. The launching date is 15th of July 2009.

HLA Cash Builder has the saving term of only 6 years or 10years, one of the shortest term any plan could offer in the market. It offers you the shortest savings years with the longest 35years policy term for your needs.

Different people has different financial needs. HLA Cash Builder Series gives you the flexibility to build, to plan and to decide on the stream of income you wish to  enjoy throughout the years.

You Build, You Plan, You Decide!

Build  :  You build your own Yearly Income Stream
Plan  :  You plan for the protection level & policy term
Decide  :  You decide the tenure of your premium commitment

You are the Architect for your own Dream!

Do not miss this fantastic opportunities ! More info to be available in the product categories.