Practical questions on buying property in HK



ORIGINAL POST
Posted by dizzyhytes 17 yrs ago
I am thinking of buying a property but have a few practical questions as I am not familiar with the way things are done here and would be keen to have advice/pitfalls. The following are some questions I have:


1. Re identifying an illegal structure on a rooftop. Would it be sufficient to ask to see a permit and/or can I have a professional look at it before I agree to buy, and if so, where would I find someone like that?


2. I may buy from a direct owner and not use an agent. If so, how can I do a land/title search or can my lawyers handle it?


3. Will the land search reflect the gross and net size of the flat. It seems the owners often inflate the sq footage, esp on older flats.


4. I would buy in my own name for now as this is to live in. If later I want to set up a company in HK and transfer the property, will I have to pay stamp duty again as there is a change of beneficiary? Is there any exemption if I were the 100% owner of the company?


Many thanks

D


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COMMENTS
ldavy 17 yrs ago
A land search doesn't show the square footage of a property at all. You need to get the relevant form from the Ratings and Valuation Department.

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