Hi all, would like to check with you , how usually the process of subsales property take place.
We have engaged a lawyer firm for the sales and purchase stuff for a subsales property since Aug 2009, S&P was signed on Sept 2009.

After 4 months of signing S&P, just got to know from the lawyer firm that it's still pending for seller's bank to issue the redemption from the bank I got the loan. Is this procedure take such a long time for the bank to issue withdrawal from the bank I got the loan?

After this, only the MOT will take place. Just want to know if everything its at the proper way.
And how long do u guys get the key after S&P been signed?

Thanks in advance.

need to follow up alot
would be best IF you know someone in that bank and particularly in the department which issues the redemption voucher to help you out

Isn't after signed S&P its like 3 + 1 month... TS, check ur S&P as there are terms and conditions...

Congratz, your lawyer is pretty much a lazy bunch i guess.
Normally once the redemption have been kautim then you can get the key. Which should be within 3 months after signing SPA, but sometimes it might take longer due to reasons like bank/lawyer screwing up/issues with title etc.

And shouldn't MOT takes place after signing SPA?

This post has been edited by ed0gawa: Jan 22 2010, 11:04 AM

Thanks, lawsh.
Recently I follow up quite a lot with the lawyer's clerk, the way she said like she is following up, but always the same reply as still pending and didn't tell me what is the reason they pending.

I don't know any guy from the bank, should I ask from the lawyer's clerk?

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Added on January 22, 2010, 11:05 amNot sure if I overlooked, I didn't notice about that, will check it again later, thanks.

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Added on January 22, 2010, 11:07 am Now I have to keep bugging them every week. It seems the process going so slow.
For my case, it will be double transfer, which means the developer will change the title to the vendor, and only from there will change to ours.
so I guess it will be another lonnnnnnnnng way to go.... sigh

The clerk told me MOT is after the bank redemption, which is correct ar?

This post has been edited by sweetnovember: Jan 22 2010, 11:07 AM

Ah, the title issue. Well, since it is Developer to Vendor to You, then...

It will normally be slower. Pretty much impossible to finish within 3+1 period. Probably up to 6 months.

btw, if i am not mistaken, MOT need to take place first before the bank will actually RELEASE the money to the seller, thus the delay.

This post has been edited by ed0gawa: Jan 22 2010, 11:14 AM

hmm... sound true. But the clerk told me it's after the redemption only will start the MOT.

Probably it is obtaining the Redemption Sum, then MOT, then Release?
Well, i am no lawyer, so i no know

Whatever it is, it is gonna take sometime. You are in the exact situation as one of my client. Their SPA was also signed around August/Sept, till now still waiting for the Title thingy to be settled.

Called the lawyer and she said the documents all are with the bank, so have to pay bank and so they will release it and only can be proceed.

Now I can see there will be taking ages for the process ( ... the double transfer)

If she is following up with the banks, she should have all the communications cc to you right??? Have you receive any???

i am currently in the process of waiting for my keys too...but i signed my s&p somewhere early Nov.

the lawyer and seller's lawyer explained that - can only get keys after the last loan draw down from your bank to the seller's bank....

yes, it is a lengthy process, that made me go cos of poor follow up....

No news at all, even the clerk said will update me, but so far no update. I have to bug her every now and then for the updates.
Is it the procedure that they will cc those communications to us?

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Added on January 22, 2010, 4:41 pmOther than keep following up with them, I don't know what else can I do. Just hope everything is in place...

This post has been edited by sweetnovember: Jan 22 2010, 04:41 PM

I signed the S&P in 17 Nov 2009 and the bank has released the redemption sum in 12 Jan 2010. Why yours take so long?

Well, yours is a simple sale and buy process. Where the title of the property was under ex-owner name and been transferred to you directly. So it is fast

TS situation is a bit messy with the current title still under developer's name. What they are doing now is Title under developer transfer to ex-owner. Then from title of ex-owner name transfer to NEW ONWER name.
If developer had allowed the title to be transferred from Developer straight to new owner then it would be much faster.

Not all lawyers are bad, some will really update you. Others, forget about calling them. Even lawyer in the office also the clerk said not in, status pending.

No, mine was same. The title just out and need to transfer from developer to seller than to me. But the MOT is executed at the same time and my title is freehold. Laywer said I should be able to get my keys early march.

This post has been edited by jarjar6666: Jan 22 2010, 10:29 PM

true.....and the length oso depends on who is the developer and how fast is the developer responding to your lawyer and bank request for documents....and some officers for the developers can be cranky....and thus delay giving your lawyer the documents (depending on their mood)

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Added on January 22, 2010, 10:43 pmyeah, cos the seller's bank will onli give those documents to your bank after the redemption - therefore, your lawyer can do those transfer by then

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Added on January 22, 2010, 10:48 pmwhen my bank requested more things from the developer through my lawyer, the bank did not cc me anything...

at first when the lawyer requested something from the developer, i.e beginning stage, some letters were cc to me....but not after my bank requested more documents....i din really know what documents are they, but my lawyer told me "some" documents

This post has been edited by leongal: Jan 22 2010, 10:48 PM

That is so good. I hope mine going smooth also.

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Added on January 26, 2010, 7:00 pmIs it due to the MOT? But MOT only take place after bank issue the redemtion voucher to my loan bank.
The process not even reach MOT yet

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Added on January 26, 2010, 7:01 pmSo good... you can got your key soon.

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Added on January 26, 2010, 7:03 pmCan we directly contact the bank or developer for this kind of matters?


This post has been edited by sweetnovember: Jan 26 2010, 07:03 PM

can tumpang thread...

im facing dilema now...bought 2nd hand apartment (leasehold)...at 1st all every thing was ok, down payment given, contract sign (4+1 month) on beginning of june 09...

1st seller promise can get house end of year...on December we just realize is a BUMI lot....zzzzzz....the buyer din even tell us at 1st place...so the process with goverm. etc take longer than we expected...

Now the seller wan to charge us interest on the delay of this thing...until now we haven get the key...bank edi pay the seller cheque last friday...

our lawyer also...haiz, dunwan answer our call....very heart broken...

is it the seller fault that din tell us is it a bumilot at the 1st place? anyone face such problem b4? cry.gif

actually you can contact the developer, to make things faster, can get the contact from your lawyer....i did contact once, but the man in charge was kinda frustrated and thought I was "chasing" him (which was the fact) and he sounded rude - giving him pressure

the bank - only the customer service, which is not much help....

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Added on January 26, 2010, 10:49 pmi think everyone has the blame, but the most blame should be on your lawyer - because he should check everything before you sign the s&p....and given that it is stated as a bumi lot, i think your lawyer should have inform you that this deal is "impossible"

anyway, not time to blame, but to settle this.....try questioning your lawyer and ask for remedy

This post has been edited by leongal: Jan 26 2010, 10:49 PM