Hi Dario

Am new to this tread hope you can advice me on my curret situation.

-Bought a Condo 480k.
-Under 2 name.
-Strata title still not issue yet.
-Free hold
-and this is what i got for the S&P bill,
-offered dis $2395.50

Appreciate your advice, and comment on the amount charge is it resonable.

Beside that we are using the same lawyer for the loan agreement, had requested them to send over the break down,
then mention is around 8k plus.

If we are using them for our loan agreement would they be charging us double on disbursement as well on it,can they do that, ex: telephone,land search and etc. How can we know what are the compulsary charges in the loan agreement.


Fees

1. Sale & purchase Agreement $3810
2. Deed of assignment $381
3. CKHT 2A [2person] $600
Gov Tax 287.46

Total $5078.46

Disbursements

1. Stamp duty on S&P $40
2. Ad valorm stamp duty $8630
3. Land search $30
4. Affirmation Fee $20
5. Developer confirmation fee $50
6. Transportation fee $100
7. Printing,photocopy, courier $80
8. Telephone and miscellaneous $80

Total $9030
Grand Total $14,108.46

Your advice is very much appreciated.

This post has been edited by aero-: Aug 19 2011, 10:37 AM

I'd give it a month at the earliest. Did the lawyer give you a timeframe. Hulu Langat Land Office is not bad. Efficient also

Well, he can transfer/sell his share but who would want an undividided share in a property? That purchaser can't sell off the entire property unless the rest agrees. The transferee/purchaser would also come in as a borrower when the property is refinanced, thus becoming liable in the event the other 4 does not make the necessary repayments. So it's quite complicated, really.

For refinance, all must agree. In fact, if one wants to bail out now, and the bank requests for it to be refinanced, then that one person would surely be requested to pay for the fees and charges applicable. I doubt if the other 4 would want to foot the bill. Furthermore, surely the new purchaser/transferee would be asked to come in as a borrower in the new refinanced loan. So, that person would be liable to pay up as well.

would like to have an advice

owning an apartment, have a court case with the developer about 10years ago for not completing the facility such as swimming pool upon hand-over where it was stated in SPA. Anyway we lose the case because the developer said they will complete it. We talk to the management to reduce the monthly maintenance fees till they complete the swimming pool but they not agreed. As such we didnt pay the maintenance fees at all. Anyway the swimming pool completed in year 2009.

Now, our strata title is ready. The developer asking us to get the title but we need a concern from them and they wants us to pay all the outstanding of the maintenance fees.

Please advice

1) If I didnt get the strata title, what they can do?
2) Can I re-claim them for late handling the swimming pool?

Thanks

1) If you have taken a loan, the bank will compel you to do so as you have agreed to execute the MOT when title is out. If you bought cash, you still have to execute the MOT, faiiling which there would be a penalty which you have to pay.

2) With such basic facts provided, it's hard for me to advise you. You might as well go back to the lawyer who did the previous legal suit to advise all the owners on this.

I'm sure the apartment would have a JMB. So, what is the JMB's position on this?

However, what I can tell you is that you would still have to pay the outstanding maintenance fees. The delay in completion of the swimming pool does not detract from the fact that you still have to pay maintenance.

You can refer to the earlier posts in this thread where there are many samples and comments thereto for you to compare.

Of course they can charge you double, even triple, since you are asking for a discount. The house always wins.

In life, nothing which worth it comes cheap or free.

cheers

I would actually advise you to just appoint a lawyer to act for you in the SPA. Given the fact that you still need to appoint a lawyer and pay 50% legal fees for the MOT, you might as well top up a bit and make sure that your rights are protected in the SPA and throughout the whole transaction.

Of course you can look at it the other way around and say that you save 50%, but if you want the peace of mind, then 50% extra is really not much. That's my opinion.

Thanks for your reply. Anyway the our aparment didnt form the JMB yet coz too many problem between buyer and developer. I will refer back to the lawyer.

Thank you dariofoo!!! ;-)

If developer contractor workers use my house air con when they are not doing defects, can I take legal action for compensation? I went to check my house today after 1pm, the contractor finished work at 1pm on Sat, I noticed the two air cons was ON! Nobody inside. I was so furious, if I didn't go in today and check my defects, the air con will be ON until next Monday, and I have to pay for it?! they were not even doing the defects that I reported so why on my air con?! And previously when they were doing my defects, I caught one of them sleeping in the room, I didn't notice the air con. But after today, I suspect them have been using my place to take nap! Cos my electricity is running even though I haven't moved in. Can anybody advise me? I'm in a dilemma, I still have to wait for them to fix the defects. So I have to worried about my electricity bill and water bill for another 1month, at least! This is not fair.

This post has been edited by sauming: Aug 20 2011, 07:32 PM

Dear Dario,

Thanks again for the reply.
Yes, will keep you updated when we've decided how to proceed.
Your feedback and advice much appreciated.

Legal action might be a bit on the extreme side for the time being. I would suggest putting in a written complaint to the developer for their further action.

Hi Dario & everyone,

I have inherited a piece of land in Banting next to main road. Last valuation by Amanah Raya was that it's worth $100k but I am not the master Title holder. I was made to understand that in order for me to change to my name, I'd need the copy of the master Title holder to be present during the submission for transfer. I dunno where to find him.

Is there alternative?

Thanks all!

Sorry I don't understand the scenario. Inheritence only occurs in the event of the death of the proprietor (owner) of the land. Please elaborate further.

This post has been edited by dariofoo: Aug 22 2011, 11:09 AM

Yes, u r right. So the court has issued the Letter of Administration in which Amanah Raya has divided the properties etc based on the advised of the court and affected family members. Hence i have been awarded the land now but the land id subb owned by abt 18 people in which the Master Title holder is non-related to me and i have difficulty finding him.

What is the best way to transfer/update my name as the new owner of the small piece of land?

When you say Master Title holder are you actually referring to the person who has the biggest share in the property, i.e. the biggest slice of the cake? Perhaps as a layman that is your understanding of the terms. If that is what you meant, that person need not be involved in the transfer. What you need to do is to see a lawyer who will write to Amanah Raya to facilitate to do the transfer of that undivided share in the property to you. This is provided that you have a copy of the sealed Letters of Admin (Surat Kuasa Mentadbir) from the Court.

Hi Dario I need some help and advice here.

Got a apartment, and loan with hsbc.

am 3 months behind payment, and they sent me a sms:



1. what's that mean exactly?
2. am i going to get sued?
3. can i still work something out with the bank now? like pay partion of the amount etc?
4. now they transfered me to the section, how many days does it take for them to auction the house?
5. am i going to get a bankcrupt notice from the bank?
6. can i still go overseas?
7. is my asset overseas going to get effected?
8. if i want to sell the apartment, what can i do?

I hope you can help me out with these.

Thanks!

This post has been edited by nono-chan: Aug 24 2011, 08:15 AM

1. Foreclosure means auction/lelong.
2. Not sued in the sense that they are claiming the full outstanding loan from you, but foreclosure proceedings will be commenced in the High Court to get an order for sale to auction off your property. They have to send a notice/letter of demand to you first.
3. Of course. It's not too late at the moment.
4. Not sure. See how efficient their lawyer and the Court works. A few months, at the minimum.
5. No. They won't go after you personally as they will auction off the property first. If the proceeds from the sale is enough to cover the outstanding amount, then all is good. However, if there is a shortfall, then they have the option to file a civil suit for recovery of the balance sum due and owing. If the sum (plus costs and interest) is RM30K and above, and if they obtain judgment (which they always would as it is a clear debt) - they can then enforce the judgment by way of bankruptcy proceedings.
6. Of course.
7. No.
8. Just put it up for sale as normal. But you might want to do it fast before they instruct their lawyer to commence legal proceedings. Even if you manage to execute the SPA with a buyer, you can forward it to the bank and tell them that you're putting it up for sale and tell them to instruct their lawyer to hold their horses. Once the purchaser obtains a loan, the redemption statement from your bank to the purchaser's bank will reflect all the outstanding sum to be paid to settle your loan. But you need to act fast. If foreclosure proceedings have commenced you can't keep that info away from any prospective purchasers as it is misrepresentation, and they can elect to rescind (cancel) the SPA.

It would be prudent to call the Bank and try to make some part-payment to them to buy time. If you miss the boat by three months, try to at least pay 1 month. This can delay the enforcement on their side (Assuming that the minimum sum due and owing to trigger foreclosure is 3 months' repayment). Can you get what I'm saying?

Once foreclosure proceedings have commenced all legal fees will be passed on to you to pay - so you'll end up paying much more than the missed repayments so far.

Good luck

This post has been edited by dariofoo: Aug 24 2011, 10:06 AM

Thank You Dario for your detailed reply. it's very helpful and now I kinda know what my situation is now.

I will try to talk to the bank and see whether i can pay off this 3 months repayment or less so i can sell the house. after the payment then i'll start selling the house.

i'm sorry i'm completely new into this do i get the bank the evalute my property or the agent can do everything?

thanks again.