Recommend me real estate lawyer!

[bcskunk]

Hey all!

Just signed the S&P couple days ago and am in-search for a fair priced real estate lawyer - cheaper the better!

English speaking is not required as I can speak canto myself.

Hope someone can help!

[Beuze]

If you are doing a mortgage ask your bank for the list of lawyer they accept to work with and chose one from this list. It will save you to have to go to two lawyer later.

[Mrs Koala]

Catherine Chan,
2877-3886 office
2523-5620 direct
61 Des Voeux Rd, Central
We used her services very good.( six to seven thousand dollars.)

[hkken569]

Ask the estate agent for contacts that they are 'affiliated' with.

They would have 3-4 on-hand, and competitive ones would quote around HKD5000-5300 all inclusive for a 2nd hand property (Less if brand new). I had received wild quotes upto HKD8000 before!

You will also need to check if the law firm can work with the mortgaging bank, as they have different affiliations.

Ken

[bcskunk]

Thanks for all the info....

I actually called the contact Ms. Koala recommended and she quoted me $6000. I managed to find one for $5000 referred to me by my bank.

Few more questions... I signed the provisional S&P on sunday and have already applied to several banks for mortgages today and yesterday. My real estate agent has already faxed the S&P to my lawyer.

I am flying to Toronto on Aug 8th and won't return to HK until Aug 28th... closing is Aug 30th. I had already informed my lawyer and banks of my trip and they should be fine and the mortgages should be approved end of july.

I have over 5 weeks before I leave, do you think I have enough time to take care of everything? Being my first time buying property, I am not entirely sure what all the steps are for conveyancey in HK.

I would ask my lawyer but shes off already.... THanks!

[Loz_2]

Its a big frickin investment. You get what you pay for so don't let costs overwhelm your thinking.

I would check the HK law society if they refer.
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[ArKay]

I would ask my lawyer but shes off already.... THanks!

Eek! What are you paying her for??

The only thing I was thinking was if the bank chases you up for more paperwork to support your mortgage application. Seemed they were always chasing me for something! But in theory, your mortgage should be approved before you even leave, particularly if you're only dealing with the bank and not HKMC.

The agent will recommend that you go for a final inspection a day or so before completion - you should have time to do that between coming back and completing. If not, ask a trusted friend to go for you just to make sure the vendor hasn't gutted the place of the brand new kitchen at the last minute.

Your agent should be able to transfer gas/electric in the new place to your name.

[bcskunk]

Thanks for the reply ArKay. My banks have already mentioned that I have to give them additional paperwork which I will provide this coming friday.

I just want to make sure everything that I need to sign before closing, I sign before i leave on vacation.

My lawyer said that I will need to go into the office about 10 days from now to sign the formal S&P and provide the remainder of the 10%. Aside from this and the date of closing, is there anymore paperwork that I need to sign at the lawyers?

[ArKay]

Not that I can remember. I definitely only went to the lawyer's twice.

[chris_in_hk]

To get a mortgage you will need to buy fire insurance for the property.

Unless the bank is offering you some months for free go elsewhere and shop around as the bank's rate is more expensive. Alternatively contact a couple of insurance brokers and they'll shop around for the cheapest quote for you.