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Good paperwork saved S’pore property investor from losing $1.6 million
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Put everything down in writing and make sure the critical payment clauses are clearly stated so that nothing is left to chance.
PHOTO: UNSPLASH
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Getting all the paperwork lined up and squared away on a business deal can be a tedious chore, no matter how big or small the stakes are, but it proved to be a financial lifesaver for a local property investor staring at a possible loss of $1.6 million.
The investor had sunk the money into a private real estate project. He took out insurance in the form of an iron-clad agreement that protected his investment.
