welcome...^^ glad that can share something here...

yeap agreed... but my S & P lawyer is better than my loan lawyer.. they will keep me update instead my loan lawyer need me to call them for updates...

Down payment will pay to vendor through lawyer... btw can i know have u pay any deposit to vendor and to secure the house already?? coz im quite confuse about ur Q... normally the step is ... 1. Go to see the house, 2. I like the house, 3. Nego the price, 4. both party - vendor and purchaser agree the price, 5. Purchaser pay some deposit / down payment (some vendor request to get down payment directly) to secure the purchase, 6. Find lawyer and banker, 7. Lawyer will follow up for down payment / other things

this is my experience... maybe there are different situation ??

booking fee of 2-3% is usually payable to the property agent (never pay to the owner directly, because you might not noe the owner is under bankruptcy)

the remaining 10% deposit (after minusing the booking fee) is payable to your s&p lawyer

Thanks again to all of you who replied in this topic. I'm indeed excited
Hopefully I don't have to chase the lawyers after signing of the S&PA but they are updating me so far on needed documents.

Many things on my head right now .
Renovations and I'm also thinking of taking advantage of Account 2 in EPF to recover some money I'm paying for this purchase (10% payment to seller, 4.1K to lawyer). I need to wait for S&PA and loan agreement to be signed, I believe.
Also the MLTA or MRTA. Not sure which to get yet.

joey85, your procedure is the exact procedure I am doing or was asked to do. Booking fee is made to the lawyer then the rest of the deposit is to be paid during signing the S&PA. That's what the lawyer told me to do. Paid and will pay by cheque too so it's black and white, they said.

This post has been edited by dmatthews: Apr 2 2010, 10:38 AM

Now u need to monitor the process makesure they don pay your developer or seller late otherwise you will be charge interest of 10% per annum. Remember to protect yourself by writing them a letter stating you will not bear to pay the interest in the events of late disbursement due to their mistake - bank & lawyer.

no use la...i could not argue for my "rights" at the end of my property transaction and i got to pay the late penalties despite their faults (both seller's and buyer's lawyers)

u didn't try hard enough! why u didn't enforce your right according to your S & P ?

This post has been edited by Tohsan: Apr 2 2010, 01:53 PM

give up on them! treat it as a lesson of my life! thanks anyway

but i wun make them go easily; contemplating of reporting them to the bank and BNM....

u r most welcome.... yes issueing cheque is better coz u can track ur own statement and as u mentioned black and white, for me i even photocopy and let them acknowledge receipt hehe...

yes agree... btw.. sometimes when comes to worst... still need to pay the penalty so that the process wont delay more due to not paying penalty being experience before that even not my fault is both party lawyer (S&P lawyer) fault - his license couldnt renew, bla bla bla.. make our case delay... bank force us to pay penalty bla bla bla...

same with leongal

me too~~

maybe ur word not "LOUD" enough tats why they get away

maybe... aikssss.... no choice liao $$ already paid... so this 2nd round (2nd purchase) will learn to be smarter...

Noted that, Tohsan. Thank you again for the very useful advise
I will make a letter today and will give it to lawyer and bank on Monday. Monday is the day of signing of S&PA.

Sorry to hear this, leongal. Now, I will make sure the letter that Tohsan has suggested will be done today and received by them on Monday (in case, something is screwed by them or error/mistake at their end). Will give the seller a copy of the letter as well (just copy).

It makes sense. I am used to paying anything online or online transfer and seldom use my cheque book but now, there is a usage (legal matters)
Good idea to photocopy and make them sign a receipt of it

yes... this is what i learn from my working hehehe

Just an update
S&PA has been signed. Waiting now for the lawyer to do the stamping on documents so I can get a copy then proceed to EPF office for Account 2 withdrawal.
The seller got the cheque already and was photocopied by the lawyer to acknowledged receipt of the checque. My bank account shows the seller have encash the cheque already LOL.
Hopefully the lawyer will do their job without delay so the bank will release the rest of the money to the seller. I paid the lawyer already via cheque too but they have not encash it. Got the apartment key also (yay!).

Thanks again for helping me on all these stuff especially the amount in the S&PA

wow so fast...congrats ya

Thanks again to you and everyone!
It's indeed fast. The solicitor said I will need to wait for 2 days for the S&PA to be stamped. I hope to proceed next week with EPF withdrawal so I can get some cash without any interest. Was thinking of applying for renovation loan but realized money in EPF should be enough for little renovation only.