QUOTE(AskarPerang @ Sep 10 2022, 08:18 PM)
I don’t think this related to property gain tax or better known as RPGT. RPGT only kicks in after the transaction completed. Which is not in your case.
I think is related to stamp duty MOT. Since title already issued out, seller must complete the process first before selling to you.
Some developers allow direct transfer to your name so yes seller able to skip and save this cost. But not this developer. Direct transfer is not allowed.
As long as the title yet to transfer to the seller name, technically you can’t buy from him yet.
Your booking fees is paid to the agency not to the agent. Agency should refund you or you can report them.
Below is the term that the seller lawyer didn't want to agree in the SPA. The seller doesn't allow us to retain 7% from the downpayment. I think is related to stamp duty MOT. Since title already issued out, seller must complete the process first before selling to you.
Some developers allow direct transfer to your name so yes seller able to skip and save this cost. But not this developer. Direct transfer is not allowed.
As long as the title yet to transfer to the seller name, technically you can’t buy from him yet.
Your booking fees is paid to the agency not to the agent. Agency should refund you or you can report them.
"
21B(1) RPGT Act clearly imposes statutory duty on the Purchaser to retain 7% from the Deposit and pay that amount to the Director General of Inland Revenue. The Purchaser is required by law to retain the retention sum, ot is not a matter whether your client agrees or disagrees unless section 13 of the RPGT Act is applicable here.
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We got cheated on the title issue as well. The agent told us seller already obtained the property title. Whereby we only found out after signing the booking form. The seller haven't paid for the perfection lawyer for the title transfer.
There were several discusses between seller & buyer lawyer for 3-4 weeks. The agent told us that owner refused to pay us back our booking fee because we were delayed on the SPA signing. The agent said that the agency released the booking fee to the seller already, so the agency can't pay us back our booking fee, which we found it unfair.
The agency didn't replied our email on this matter. We don't know what to do in order to get back our hard earned money in this case.
Anyone that going to buy that unit please be aware of such issue. Get black n white written before proceeding with the booking form + booking fee.