Frequently Asked Questions and Answers
When browsing the register of transactions provided by the vendor for a residential development, prospective purchasers should pay attention to the followings:
- Prospective purchasers should be cautious if the agreements for sale and purchase (ASP) have not been entered into for many residential properties in a development after the preliminary agreements for sale and purchase (PASP) are signed.
- Prospective purchasers should be cautious if the purchasers of the majority of the transactions shown in the register of transactions are related parties to the vendors.
When reading the sales arrangements for a residential development provided by the vendor, prospective purchasers should pay attention to the following:
- the date, time and the place when the residential properties will be offered to be sold;
- the residential properties to be offered to be sold on that date; and
- the method to be used by the vendor to determine the order of priority for prospective purchasers to purchase the residential properties, including whether purchasers are required to register with the vendor and provide a cashier order to the vendor, and the date, time and place for accepting registration and the cashier order.