I want to purchase a first-hand property (Purchased from developers)

Developers of first-hand residential properties generally offer prospective purchasers a variety of payment schemes. Prospective purchasers should carefully consider their repayment capability, repayment arrangements, and the prevailing property market trends. In addition, as different banks have varying approval criteria, promotional offers and mortgage terms, prospective purchasers are advised to consult different banks and financial institutions regarding mortgage arrangements.

Apart from the purchase price, property acquisition also involves additional expenses and fees, including taxes (such as stamp duty). Before deciding to purchase a property, prospective purchasers should pay attention to the type and amount of stamp duty payable and seek professional advice from solicitors to avoid incurring liabilities that exceed their budget. When estate agents provide clients with information on property-related stamp duty, they must ensure accuracy and avoid any misleading representations. They should also advise clients to consult legal professionals on the applicable type and amount of stamp duty before entering into any provisional sale and purchase agreement.