As the buyer, you have to find the property. After you have made your decision, you are required to fill in an application form prepared by the broker and pay the booking fee (min 2% or more). A receipt will be given to you after you pay the booking fee. If you, as the buyer go back on your word, the seller has the right to confiscate the booking fee. Otherwise, the seller has to double pay the booking fee to you if he or she goes back on his or her word.

You have two choices:

1: You provide the financial documents to the broker. They will assess your credit, income and assets to quickly determine what loans you qualify for.

2: You provide any relevant details and financial documents to the broker.

The buyer has to prepare his or her identity card and deposit. The broker will hand over seller's detail, buyer's detail and title to the lawyer for preparing the Sell & Purchase Agreement. The deposit will be handed to the seller only after both parties (seller and buyer) have signed the Sell & Purchase Agreement.

All the relevant financial documents will attach to the application form and submit to the bank for approval.

After 7 days, as the bank reply the approval, loan will be processed and an offer letter will be prepared. The buyer needs to sign the offer letter.

Before signing the Sell & Purchase Agreement, both parties can decide the date of settling the rest of the deposit. Normally, the buyer is given three months for settling the rest of the deposit. The buyer can request the seller to extend for one month. However, within this one month, the buyer has to pay the interest that is calculated per day. The amount of the deposit depends on the amount of the loan. For example, if you loan 70%, you are required to settle 30% deposit within three months.

The buyer will hand over the deposit to the lawyer for settling the ransom from the bank or financial company and property tax in order to redeem the property. Then the process of transfer can be carried on.

As the property is being redeem and the seller has settled the property tax, the lawyer will submit the transfer form to the Land Service for registration. If the transfer form is approved, the lawyer will hand over the rest of the deposit to the seller. At the same time, the seller has to pass the right of the property to the buyer as final realize.