This article is specifically written for searchers looking to determine if YY Lee & Associates is the right law firm to assist you in executing your decoupling property transaction.
As consultants specialising in helping our readers initiate and manage the entire end to end process from decoupling property to purchasing your intended 2nd investment property without ABSD. We have often encountered readers and clients looking for recommendations on law firms that they should be working with.
Some of the common challenges you will face when searching for a decoupling lawyer in Singapore
You are unsure what are the factors to look out for when searching for a decoupling lawyer
Unlike sourcing for a lawyer to execute a simple property sale or purchase transaction. Most people would not have prior experience executing a decoupling transaction and would be unsure of what are factors to look out for in a proficient law firm that can assist you in decoupling property.
Multiple ads, wide range of prices
Another factor that makes the process more complex is the fact that there are multiple ads by agents and law firm advertising services on decoupling property.
You could potentially be confused over who is an agent and who is a lawyer, and amongst the law first there is a wide variety of legal fees ranging from as low as $4,500 to $6,500.
Absent of defined criteria evaluating decoupling legal services
As decoupling is still a niche legal service utilised by a small proportion of savvy property owners in Singapore. You would not find many relevant reviews on google highlighting the quality of decoupling property legal services online.
Criterias you should be looking out for when searching for a decoupling lawyer
From our experience the following are some of the key considerations to look out for when searching for a decoupling lawyer.
- Easily reachable via Whatsapp and is responsive
- Willingness to share information prior to engagement
- Experienced in Decoupling and is solution focused
- Organised and efficient
An unbiased review of YY Lee and Associates LLC
We first interacted with YY Lee and Associates LLC when we helped one of our clients find a solution of a complex transfer of property ownership transaction. We reached out to several law firms and YY Lee was the first few who responded to our queries.
We have since had clients completing their decoupling property transactions with YY Lee and Associates. The following review documents both our personal and client first hand experience interacting with the law firm.
Ease of reach and responsiveness
Though not directly related to legal expertise, we rate this as an important criteria in ensuring a smooth and efficient process when decoupling property.
As decoupling property is a more complex transaction, there are bound to be multiple questions at the onset and knowing that most readers will be working on this as a side project outside of their working hours on your mobile.
You wouldn’t want to be emailing your law firms for basic questions and grinding through the wait for information to be communicated.
4.5 out of 5 Star
YY Lee and Associates is extremely responsive. Their whatsapp number is easily found on their website and they will respond promptly within 1 working day.
From our experience, our queries typically get addressed by the Legal counsel herself within a couple of hours from texting. And plus points for attending to urgent queries even on weekends.
Willingness to share information
From our experience, some law firms tend to be more guarded when it comes to sharing opinions and solutions prior to engagement. This makes the initial fact finding process a little more difficult.
4 out of 5 Star
As a firm, the lawyer was very open in sharing solutions and past experience handling different decoupling cases, without any obligation for engagement.
In addition to that, the law firm being run by an entrepreneurial daughter and mother team provides a very personal touch, where you would attend to personally by either one of them.
Experience and Solution focused
Being solution focused instead of rigidly reciting legal guidelines matters to us. As different decoupling cases have their own nuances and challenges, you will need a solution focused lawyer that can help you chart the best path forward.
4 out of 5 Star
Relating back to a case of one of our readers looking to execute a decoupling transaction with minimal loan incurrence. The firm was able to effectively derive viable solutions, while some other firms were placing guidelines and processes first before tailoring solutions.
Cost
As mentioned earlier, the cost of decoupling legal fees ranges from $4,500 to $6,500. Aside from the quantum of spend, transparency without additional cost is a plus point.
4.5 out of 5 Star
YY Lee and Associates decoupling services cost $4.6k net with an additional $300 required for valuation report.
Speed and Efficiency
On most occasions, you are looking to complete your decoupling transactions within a shortest time frame for you to seize the opportunity to purchase your 2nd property.
With this in mind you would be looking to prioritise a law firm that is organised, efficient and is able to complete your decoupling transaction and have all funds flowed back into your bank and CPF account within the shortest time frame.
4 out of 5 Star
The firm is very well organised in terms of client onboarding workflow. A clear whatsapp and email message on next steps is sent out as a guide.
Decoupling sales and purchase agreements are usually ready for signing within 3 business days. And all funds can be reverted to both bank and CPF accounting within 12 to 14 weeks.
Relevant Google Reviews
Extracting snippet of google reviews that is relevant.
Zjj chan
Very professional and straightforward people, i respect and like. Yiyang, i believe is the female boss and first lawyer, responds almost instantly and appointments are very near. Just a few days away. Sometimes even just next day. Very firm yet caring lawyer. Case has a conclusion efficiently. Very fair price and short wait as compared to those big chains, if you need legal service, come and try. You will be pleasantly surprised.
Cassandra Leong
Yiyang is amazing! I’ve been trying to understand estate planning better – not just what’s already available on the Internet through the CPF website but the various scenarios that could happen in the event of calamity, to ensure that my loved ones are well taken care of when I no longer have a say in this world (not by choice), but she took me through the various options and was really warm and patient. I was always comfortable asking questions and never felt belittled or stupid in the aspect of law despite being a lay person
Kalai Vani
I would like to thank YY Lee & Associates for their professional and prompt service standards. Both Mdm Lee and Ms Chen attended to me warmly when i first seeked them in regards to my case. I was feeling very anxious and nervous about meeting a lawyer for a first time, but it all changed with the warm approach towards me. I was able to express my situation without any interruption or rush. Terms and conditions were clearly explained to me before signing any official documents. I felt secured and assured by their service quality. Although my case took longer then it should, due to the opponent party, Ms Chen handled every mediation calmly and professionaly. She also took time to give appropriate advice when i needed them. She was always willing to answer my queries and did her best to expedite my case at all means. Nevetheless, the final judgement turned favourable to my side and i was granted with almost all the proposed terms for my case. I take this time to thank Ms Chen and Ms Lee for taking up my case and relieving me from a difficult situation that i was facing. I strongly recommend YY Lee & Associates LLC genuinely to anyone requiring a solicitor for legal matters.
Quick Introduction – Decoupling Expertise
We are a team of realtors that thrive in complex real estate situations. We pride ourselves in helping our client navigate and derive the best strategies to own their 2nd and 3rd properties in Singapore.
Topics that fall within our niche, comprise the following.
- Decoupling property to minimise ABSD on second property
- Structuring HDB ownership for future ownership of second property
- Property portfolio optimisation for owners planning for retirement
- Property inheritance and next steps consideration
- Alternative property investment – industrial and commercial property investing
- Property consideration in view of divorce
- Reverse equity loan to unlock equity from current asset
