Home Buying Workshop Enthusiastically Received

Everybody craves a home of their own, and buying a home turns out to be one of the biggest events in one’s life. Many people leave this transaction to be taken care of by real estate agents. But how can you be a savvy consumer if you know very little of what is involved in your multi-million dollar deal, knowledge of the things involved in the deal will help you smooth out the buying process and ensure that your purchase is conducted professionally.

The laws concerning property transactions are publicized by the Legal Affairs Bureau via newspaper, radio and television. A leaflet entitled Tips on Property Transaction was distributed at all Legal Information Stands, introducing the general procedures of a property transaction. In addition, a workshop entitled “Better Approaches to Property Buying” was held to explain the procedures involved in property transactions, including the documents involved such as the Land Register, promissory agreement, tri-party agreement, pre-completion property sale, power of attorney, stamp duty on property transfers, one-stop service, and miscellaneous paper work. In response to the enthusiastic citizen participation, the Bureau has decided to host three more workshops instead of the one originally planned in consecutive two-week periods to meet the needs of the citizens. Local residents are obviously interested in knowing and understanding the regulations and procedures concerning property transactions. The four workshops attracted over 240 citizens, where participants not only listened carefully to the clear and simple explanation by legal worker Ms. Leong Chi Kun, but also actively raised questions and held discussions of real cases, in an interactive and relaxed atmosphere.

In May, the Legal Affairs Bureau will publicize the tenancy laws. Interested parties should look for related newspaper notices or visit the Legal Affairs Bureau’s website at www.dsaj.gov.mo for further information.