Procedure upon receipt of notice of stamp duty

1. (a) Upon receipt of the valuation of the stamp duty from the stamp office (Notis Taksiran), the purchaser’s solicitor should inform the purchaser of the stamp duty to be paid and obtain the amount payable immediately so that the memorandum of transfer can be stamped.
2. (b) Then the purchaser’s solicitor should collect the differential sum (the difference between the purchase price and the loan sum (if any)) from the purchaser and forward the same to the vendor’ solicitor.
3. (c)The purchaser’s solicitor must also insist on a written confirmation from the vendor’s solicitor that the differential sum has been fully paid and forward the written confirmation to the purchaser’s financier.
4. (d) Once the redemption sum has been released by the purchaser’s financier to the vendor’s financier, the purchaser’s solicitor shall then forward to the purchaser’s financier’s solicitor the following:
   1. (i) the duly executed and stamped memorandum of transfer;
   2. (ii) two copies of the withdrawal of private caveat form (Form 9G) with the statutory declaration duly affirmed;
   3. (iii) the current quit rent and assessment receipts together with the relevant registration fees with any late registration penalty charges (if any).
5. (e) The purchaser’s solicitor shall do the necessary on his part to facilitate the release of the balance loan sum.
6. (f) The balance loan sum shall then be released to the vendor’s solicitor or in some cases directly to the vendor.
7. (g) Upon receipt of the balance loan sum by the vendor’s solicitor, and the purchaser paying whatever pro-rated outgoings are calculated as of the date of receipt of monies, or late payment interest (if any), the vendor shall deliver vacant possession of the property to the purchaser, usually by handing over the keys of the property to the purchaser’s solicitor or the purchaser.
8. (h) It is prudent for the purchaser to inspect the condition of the property before the vendor’s solicitor releases the balance loan sum to the vendor, just in case there is any change to the property’s condition at the date of delivery of vacant possession.
9. (i) Lastly, the purchaser’s solicitor has to keep the matter in abeyance until the copy of the title with the purchaser’s name endorsed thereon is received from the purchaser’s financier’s solicitor. A copy of this is then forwarded to the purchaser for his records.

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