If the property is currently empty, it makes even more sense that the owner can release it early to you, maybe with you paying a nominal small sum as token for rental while he takes his time to do his transfer of title. VP also carries the meaning of handing over the unit, not just making sure it's not being occupied.

Usually when the unit is tenanted, the vendor/seller may take his own sweet time to do the transfer, while he is still collecting rentals during the delays.

If the unit is empty, the vendor/seller should be in a more sense of urgency because the sooner he can complete the transaction, the sooner he can get his money from the disposal of his property.



So, what Pai has suggested is that you may nego nicely with the vendor to release the unit early to you, so that you can start occupying the unit while waiting, then it's a win-win situation where you will get your unit while vendor continue doing the transfer.

Any refund at this stage, both parties will incur friction cost (legal fees, penalty of exit etc), you wont be getting full 10% anyway. Since you bought the place 6 months ago, surely the entry price you wont be able to get at today's market (assuming it's a good buy), then why not just stick to the waiting if still unable to nego for an early release. Unless it's really a terrible mistake walking into buaya mouth when you bought this unit, then you may want to muscle your way out, but i highly doubt so.

It's OK to be eager and excited to get your first unit handover asap, but it's also entirely OK to wait slightly longer for your first unit to deliver safely to your hand, be it 6mths, 9 mths or a year. As long as it's a good buy, you win, just a slightly longer waiting only.

p.s. my first unit took 9 months for a freehold unit, and I am superbly happy and glad that I waited for the whole transaction to pull thru. =) Property investment, patient gets you a long long way. cheers

This post has been edited by noed18: Jun 18 2010, 11:36 AM

Poor girl, your vendor sendiri a loyar, of course difficult la, but if you can still muscle thru, next time surely you can glide thru many normal transactions.






Thanks for the endorsement

You leave me the impression just like your avatar, super gan jeong, super cannot be calm, and worried that this seller genuinely want to cheat your money.

FYI,
1) if he wants to cancel the deal without your consent, he has to give you full refund plus double of what you have paid for SNP signing.
2) if he wants to sell to others, he will still need to get the title transfered to himself then only he will be able to transfer it out again, same as your case. They why bother to sell to someone else, and kick you out if you are staying in there already.
3) if he really have new buyer, read item 1), he needs to find a buyer that willing to pay so much more than this original selling price, just to break even.
4) if you are so worried he will kick you out, make a tenancy agreement with him before you move in la. dun start your reno till the transfer to your name is complete, anyway, this is supposedly the original timeline that you can get your VP, ngam mou?