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Selling property while overseas

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  1. #21

    Join Date
    Feb 2006
    Posts
    763

    Thank you! That's a good idea about PoA.

    Yes, it is troubling as the earlier emigrants all age, isn't it?

    Actually, there's already a PoA drawn up there which i can theoretically use to deal with financial affairs over there.

    However, I found that the various solicitor firms in HK I approached said they won't take the business even if there's a valid PoA. They will only take it on if the seller can visit their office in person.

    Now that this thread has mentioned broader issues, I can see why law firms might not want the hassle or risk of dealing with potential KYC or added checks, legal documentation. For them local property transactions are straightforward, routine and dealing with something non routine isn't worth their while.

    Thank you again for your help! I appreciate the empathy and advice a lot.


  2. #22

    Join Date
    Nov 2019
    Posts
    314

    The HK solicitor needs to have a PoA, drawn up between your friend and the Hong Kong solicitor, as ultimately the Hong Kong solicitor needs to act on behalf of your friend. This can be a PoA exclusively for a particular property.


    HK solicitors are required to do due diligence, hence your friend will need their ID and address proof verified by a practicing lawyer in their country of residence.

    You can ask the solicitors I mentioned prior.


  3. #23

    Join Date
    Jun 2019
    Posts
    13

    You don’t have to go the PoA route.
    You can instruct a agent to act for you on the sale. He listed the property for sale, found buyers and instructed a solicitor to handle the sale. Most of the communication by email only documents that needed a signature was sent to me in the U.K. to sign. on completion the money was deposited into my HK bank account.

    jrkob and chuckster007 like this.

  4. #24

    Join Date
    Nov 2019
    Posts
    314
    Quote Originally Posted by Timaw:
    You don’t have to go the PoA route.
    You can instruct a agent to act for you on the sale. He listed the property for sale, found buyers and instructed a solicitor to handle the sale. Most of the communication by email only documents that needed a signature was sent to me in the U.K. to sign. on completion the money was deposited into my HK bank account.
    How did your lawyer establish your identity? They have to physically see you or verify your identity ithrough another solicitor

    https://www.deacons.com/news-and-ins...uirements.html

  5. #25

    Join Date
    Jun 2019
    Posts
    13
    Quote Originally Posted by ArrynField:
    How did your lawyer establish your identity? They have to physically see you or verify your identity ithrough another solicitor

    What’s app a copy of my HK id was sufficient.

  6. #26

    Join Date
    Nov 2019
    Posts
    314

    If your solicitor conducted his NYC with due care and diligence, he should have asked a UK solicitor to provide certified proof of your ID and address.

    Fraudulent transactions could occur, if protocol is not followed. Would you be comfortable if someone stole your ID card and used it?


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