Hi,

My bank had disburse the money to lawyer and lawyer issued cheque to owner's bank, and now in the process of waiting the documents from owner's bank so that they can do stamping.

I want to know if i can go to apply electricity, water and start to do renovation now?
Or i have to wait anything settle before i can do it?

If I do those things, what are the risks?

Thanks.

if me, I prefer to wait for MOT settle...1st

So long the title is not in your name, officially you are not the owner. legally wise, unforeseen complications could come in.

Just in case it is not transferable, then all the renovation costs would turn to zero.

The choice and money is still yours.

This post has been edited by SKY 1809: Dec 11 2009, 12:08 PM

Thanks for the advise.

If in case it is not transferable as what u mentioned, does it means not only my renovation costs, even I still have to pay my bank loan while the property is not legally mine?

By right , 90% of the balance money cannot be paid to the buyers unless there is a consent given by land office for transfer of Leasehold properties.

If paying to the ( seller ) banker ( existing with a loan ) , then( seller's ) banker would undertake to refund you.

If taking a bank loan ( by a buyer ) like your case, would give you the added advantage and protection ,your bank has the duty to do a proper job on your behalf.

You are protected in the S & P as the buyer.

Now a way, people prefer to pay directly to Banker name ( rather than lawyer ).

Not mean anything here, kinda protection only.

This post has been edited by SKY 1809: Dec 11 2009, 03:36 PM

First makesure your MOT done,before you start your renovation, you should get the approval from majlis for the renovation, you need to hire someone to draw up the plan. The checklist and panel of architects will be provided in the case of MPSJ. Once the plan is approved you can start your renovation. You still can renovate first without applying for approval but you wil risk getting fine 10 times of the "proses plan bangunan". Electric n water you can apply anytime as you wish as long as you have the S & P with you.

This post has been edited by Tohsan: Dec 11 2009, 02:53 PM

you can apply for electricity and water with the SPA. no need to wait.

have u gotten the keys?

Means in laymen term, the buyer bank had do all search to verify the seller and the property is clean before releasing the money to seller's bank?
And if any thing happen with the MOT, the seller's bank will refund me and I'm protected by the S&P as well.

Do we really need to get approval from local council to do renovations even for those renovations that will not change the property structure? Renovations here i'm talking about like wiring, building kitchen, etc.

Is it the only way to make sure MOT is done thru lawyer? Can we check with the land office ourselves?

My property is in Penang anyway.

Yeah, owner had passed me the key since the beginning when we sign the SPA.

Usually its the lawyer that represent you will do all the work of checking not you becos you already paid them so no point doing the "runner" work as this is their part of the job.

As long as there is hacking of wall you are require to apply for permit according to them.

Yes, it is.

1) Seller's bank would undertake to pay back the portion ( the amount still owing to bank by the seller ) , excluding the 10% you paid on signing the S & P, if the transfer failed.

2) Loan lawyer ( from your bank ) would do the necessary to protect the loan bank before the payment is released ( a in way you are protected ). For leasehold property, A CONSENT FOR TRANSFER is needed FROM the LAND OFFICE. Caveats may be needed by the bank to prevent seller transferring the property to another party " illegally "

3) Under S & P , Seller undertakes to pay back whatever amount paid by you such as 10% or more for FAILED DEAL . This one , the protection is not as GOOD as the ones come from the banks. It also depends on the cashflow position of the seller . though legally liable to you. Time may be needed to get back your money. Cannot totally discount the possibility of getting your money back by installments under the not so worst case scenario.

4) Refunds from any payments for part of the purchase cost through the lawyers, though covered under S & P. Not 100% Fail-proof , I would say. Rare cases of dishonesty reported on and off .

Just to give you the flow, maybe NOT be exactly as what I said especially on the default by seller if any.

Explanations are More biased towards the protections for the buyer.

As I say before, the choice and money belonged to you.

Judge your own.

This post has been edited by SKY 1809: Dec 12 2009, 02:27 PM

You need approval plans from Local Council first. If not you will be fined upside down

if not mistaken is about RM1800.

If after i apply for the approval, am I able to start renovation 1st while waiting for the process done?

u must get the approval 1st then only you start the renovation work otherwise where do u get you permit to start the renovation work if they are not yet approve by local council.

1 query here, going to reno my hse soon.

no matter what renovation we do, we must get d approval from the local council?

so wat is d proper procedure if we decide to reno our hse.

If your renovation doesn't modify the house structure then you don't need local council's approval.

i would advise....do not renovation until u got the key and confirm with ur lawyer, u have inspected the property together with all fixtures & fitting (if any) and u satify the condition of the property.....

just wondering, how long does the land title transfer will take? is a freehold, and with MBPJ.

Yes, I want to ask this question too....

I was told that, nowadays it is fast....i understand that the property is considered transferred when your stamped transfer form is submitted/ presented to the land office