The legal fee quoted by the bank is based on what the lawyer quoted to the bank. Same thing.

Discounts are illegal and we don't discuss it in this thread as it is between you and your lawyer to talk it over and make the necessary arrangements.

iriseyoufall:


Hey there,

Yes, I remember you previous queries on your lawyer who was somehow related to the vendor or something like that - and about back-to-back MOTs.

Sorry to hear about the predicament that you are in.

Answers to your questions:

1) You need to look at your SPA to see what is provided for in the event that the vendor fails to proceed with the completion of the SPA. I hope that specific performance [SP] is not excluded in your SPA. If SP is an option then you'd need to appoint another lawyer to sue the vendor to compel them to specifically perform the contract - i.e. to surrender vacant posession to you. Of course, this will only come into play at the end of the transaction.

In fact, I'd say the transaction is almost complete as the second MOT has already been adjudicated. Am assuming you're taking a loan right? As such, the only thing that needs to be done now is to present the MOT for registration together with the charge in favour of the financier and the final release of the loan will be done. You're looking at another 2 weeks before you can get your keys.

2) If they want you to agree to abort the SPA of course they have to reimburse you for whatever you have spent on - not only fees but stamp duty as well. What about your loan? Has your bank released the first sum to redeem the vendor's loan? Or is it just one release at the end? In any event, how are you going to back out of your contract with the bank? There would be a penalty involved. Are they willing to bear for it?

3) Then you pursue the option in my answer no.(1) above.

4) CAN you bring this case to Court? I think this is covered in answer (1) above.

SHALL you bring this case to Court can only be answered by you - weigh your options properly before making a decision.

How much do you want the property? How much losses are you going to sustain? Will they reimburse you for everything - including any penalty from your financier? Consider how close you are to completing the transaction. Can you afford another lawyer to sue the vendor for SP? Can you handle the stress of going through the litigation process which can stretch for months and perhaps years if there's an appeal. Can you find another property at the same price you're getting for now?

Make an informed decision once you've considered all the above questions properly.

Good luck.

Don't waste your time. At the end of the day you've discharged her so let that be the end of it. Get recommendations from friends and family for a reliable lawyer and move on with it.

Boss,

Why you call me Mr Foo? I'm just dariofoo la.

Anyway, it looks like you've got a SP clause there so you can compel them to complete the SPA and get vacant posession.

This is where you must understand the difference:

1) If you go for SP, then the costs which you can recover from the vendor would be the legal costs of litigating the matter in Court. That is all. You can't ask the vendor to pay you for legal fees for SPA and other costs related to the SPA as you are seeking that the vendor honours the SPA and completes it.

Don't be confused with legal fees - if you pay your lawyer xxx amount to file the suit in Court, don't expect the Court to award you the same xxx amount as costs. It will surely be less.

2) If you don't go for SP, then you terminate the agreement and the vendor reimburses you 10% plus another 10% as compensation. That compensation is meant to cover your expenses incurred throughout the SPA. You're not supposed to profit from it - the extra 10% is meant as compensation.

Hope that clears it up for you a bit?

There must be a reason. What is stated in the supplementary document? Make sure your lawyer explain the details of it to you before you sign it.

What penalty are you referring to? Time doesn't start to run until the first transfer is completed so there's nothing to worry at this stage.

funnyface:


I'm sorry but I don't follow your story in full. Has parties executed the SPA? Before executing the SPA a title search ought to have been done. All documents ought to have been collected from him. At what stage is the process now? Where is your lawyer in this whole picture?

felixchui80:


First things first - I don't know the nature of the court order which was obtained in 2006. Please elaborate. If a grant of probate which was obtained in 2002, then that ought to be the end of legal proceedings.

Another question - she authorises the purchaser's lawyer to act on her behalf for the SPA, but she doesn't trust him to hand over the original title to him? It's part and parccel of the process when you authorise the purchaser's lawyer. Why is she doing all this on her own? Sorry mate but I can't follow the facts.

This post has been edited by dariofoo: Dec 3 2011, 02:26 AM

Ok clear.

Question 1: Why there is totally no mention of owner B in the title??? Is it safe for me to proceed with the SPA?

Of course, as long as there is sufficient proof that B is the beneficial owner of the property.

Question 2: How long will it takes to transfer the title from auction high court/land office to him?
How long is very subjective. The three month period stipulated by your lawyer is sufficient enough and is the customary time period given to the vendor.

Question 3: Will my SPA valid even by the time we sign, the title is still not under his name?
Of course. The SPA is executed by the vendor in his capacity as the beneficial owner. The completion of the SPA is subject to title to be transferred to him and subsequently to you. There is a condition precedent. So, your rights will still be protected.

You can't hold 9% until title is passed. Once the SPA is executed 10% must have been paid to the vendor, leaving 90% balance purchase price. That is the customary practice.

1. Depends on the land office and in which State.
2. 6%
3. 1st Jan 2011