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MANUAL FOR BUYERS
MANUAL FOR BUYERS
Legal execution Department
Legal e x ecution Department

situation or gives any other reasons. In both cases, the action need
to be done before the 15-days-due date and the successful bidder
also needs to give verbal explanation to the executing officer. The
executing officer may consider allowing an extension not more than
3 months from the due date, subject to the criteria and conditions
prescribed by the executing officer.
In allowing an extension, the executing officer may consider
whether it is a bona fide case or not before granting an extension.
3) After the successful bidder has made the full payment,
together with stamp duty land tax (0.5% of valuation list), the
executing officer shall issue a letter to the Land Department and give
the title document and other relevant documents to the successful
bidder to be used for the registration of title transfer with the Land
Department.
4) If the successful bidder is a person with an interest in the
property sold, he/she needs to enter into the sale agreement and
pay 5% of the Valuation price of such property on the agreement
date. The executing officer will deduct from the full payment
the amount of which the successful bidder has
interest. If this is still an insufficient amount,
the successful bidder needs to pay the remaining
portion before he/she will be given of the
documents for registration of title transfer.
5) If a bidder is adjudged a bankrupt or
has a receivership order made against him/her,
the executing officer may refuse to enter into
the sale agreement and not return the bid
deposit but forward it to the official receiver.

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