ya, should be the selling price and not the loan amount/ actual value of the property...therefore 120k
Amount to see in S&PA?
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 Apr 1 2010, 10:36 AM
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#1
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3,188 posts Joined: Jul 2007 From: A place called "home"  
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Apr 1 2010, 01:10 PM
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#2
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as a buyer, you have the right to choose your S&P lawyer; only you got to stick to the bank's panel lawyer for loan agreement
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Apr 1 2010, 10:45 PM
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#3
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QUOTE(dmatthews @ Apr 1 2010, 08:25 PM) Thanks again everyone! The lawyer and the bank agreed to display the selling price in the S&PA. They explained that the reason to put the loan amount is to lower the stamp duty fees and to show the real value of the property. They understood though my concern so all is well now. The lawyer will amend the S&PA before the seller and I will sign Many thanks again! Joey85, glad to know that there is another bank that have lower BLR. I guess, I'll pass now because of the time spent in this purchase has put my energy somewhere already LOL Now planning to do renovation and might apply for Personal Loan to other banks or Home Xtra by OCBC. Will see if Affin will be able to provide such loan with great rate too.   dun be too excited yet; there's still a long way to go; what you need to do - is to monitor your lawyer closely and get them update you on the progress (most of the time, they won't call you, so it is better if you take the initiative to follow up with them) congrats too... |
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Apr 2 2010, 09:24 AM
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#4
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QUOTE(riz50 @ Apr 1 2010, 11:35 PM) Noob Question 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)10k d/p need to pay to vendor or lawyer? looking for housing loan too. i need to pay 10% from 150k n i got 15k rite now. but dunno to whom i need to pay d/p to the remaining 10% deposit (after minusing the booking fee) is payable to your s&p lawyer |
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Apr 2 2010, 01:47 PM
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#5
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QUOTE(Tohsan @ Apr 2 2010, 01:44 PM) 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) |
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Apr 2 2010, 01:57 PM
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#6
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QUOTE(Tohsan @ Apr 2 2010, 01:52 PM) u didn't try hard enough! why u didn't enforce your right according to your S & P ? give up on them! treat it as a lesson of my life! thanks anyway |
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Apr 2 2010, 02:04 PM
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#7
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QUOTE(Tohsan @ Apr 2 2010, 01:59 PM)  |
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Apr 8 2010, 12:42 PM
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#8
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QUOTE(dmatthews @ Apr 8 2010, 12:38 PM) Just an update wow so fast...congrats ya  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 |
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