I see i see... got a better understanding on this already, May i know what is SRO? so that mean is a must to charge only 65% right? wont mention regarding discount again, and in fact what they give me is actually a must give of 35%, hmm.... Thx a lot!

Is it normal to have loan facilities lodged caveat? I was told by lawyer that certain bank requires caveat...

OTHER CHARGES
1) Preparation of Charge Annexure 341.10
2) Preparation of Entry of Private Caveat 200.00
3) Application for Consent to Charge 541.10

7) Registration of Entry of Private Caveat (2 Titles) 620 00
12) Registration fees for Caveator's Consent (RM50x2) 100 00

Thanks.

Solicitors Remuneration Order 2005. Check out the first page of the thread.

Yes it is.

Hi, just recall am ask to sign a letter like this when place booking fee

i/we confirm that we have been informed by you and that we are aware that the individual documents of title to the property has not been issued by the relevant land office. Pending issuance of individual documents of title to the property, i/we furhter confirm that i/we shall not lodge a private caveat of master land.

Is there anything wrong signing this?

Thanks Dario, you are helpful as always.

Nothing wrong as it is always a requirement by the developer that no individual purchaser lodges a private caveat upon the master title as to avoid any hindrance to the developer/proprietor when applying for subdivision later.

It is also to keep the master title 'clean' - imagine if for a condominium project - every single purchaser, let's say 250 of them - each lodges a private caveat upon the property. A title search would result on a printout of around 50-60 pages then!

So do go ahead. No worries.

Just a quick one, what is "Charge Annexure"?

Under the loan facility agreement there's an entry called: Preparation of Charge Annexure

And under the disbursement there's another called: "Registration of Charge (incl noting fee)"

Charge annexure - Form 16A - a form of security created over the title in favour of the Bank. When there's a charge, you can't transfer the title unless with the consent of the Chargee [the Bank].

HI DARIO

The purchaser has agreed to the extension as he also needed more time to get his bank loan..

Once the loans is in place, can the lawyer go ahead and get us the sign the S&P but date it later ? When would the balance of the 10% deposit be payable then?

Thanks

Hi like to check for my friend

Buying subsale apartment from owner.
Already get bank loan, signed S&P

Usually how long is the process to finish get the house key, bank loan release to owner and house ownership transfer and all settle

The lawyer say need about 3 to 4 month after signed S&P. Is this normal ?

Dario,

Do you think the following charges are reasonable? Before discount for term loan of 423k (2 titles for one house)

Thanks.



This post has been edited by surf-it: Apr 14 2011, 02:17 PM

You must only sign once the purchaser has done so AND forwarded the cheque for the balance deposit to you. Never before.

Is the purchaser objecting to you being handed the balance deposit right now?
If no objections by all means ask for the cheque to be issued directly to you.

Shouldn't be a problem as the SPA, when dated later, would in any event state that the deposit has been 'hereinbefore paid and accepted by the vendor' (or some phrase to that effect)

..Or is he insisting that you can only have it once the 3 month period is up and the SPA is dated?
In that case, make sure the money is deposited in the law firm's client's account (with proof of clearance of cheque) before you execute the SPA.

Freehold? No need consent? Is it encumbered? So many questions, so little info. I also didn't bring my crystal ball or else I can take a look at it for your friend.

Normal would be 3+1 months from date of signing of the SPA.

Alright. But how come no charges for withdrawal of private caveat?

Agree!!!

Surt-it: Remember to remind the lawyer to amend the bill. Don't keep quiet ya.
Service Tax 6% not 5%. Ask him to add.
11) Bankruptcy Search didn't bill you. Remember to ask him to add ya
14) Too Low, Imagine amount of paper use.


This post has been edited by Seremban_2: Apr 14 2011, 03:08 PM

i would like to add to this.

i did some research when a lawyer tried to charge me attestation fees.

the fifth schedule of the Solicitors Remuneration Order of 2006 reads as follows:-

A solicitor is not entitled to witnessing or attestation fee-
(a) in a case where he has prepared, settled or approved the document concerned and he is being remunerated according to this Order; or
(b) in a case where he acts for one party in a transaction and witnesses or attests the signature of another party for whom he is not acting.

when i found out about this, i immediately appointed my own lawyer. if someone is going to try and cheat me out of RM300, how can i trust him with the balance of my purchase price, which will be held by him as stakeholder? clearly a desperado.

you have been warned.

by the way dario, you are doing a great job helping people out. your boss must be pissed

lawyer said withdrawal is after I have ended the loan. requirements by Hong Leong.

I wonder why they want the caveat to remain there if there's already a more 'powerful' charge created in their favour.