QUOTE(dariofoo @ Mar 12 2011, 01:08 PM)
I read your post well and clear. Did you read my reply? It doesn't matter whether you're first name, second name, third name, second buyer (what kind of terms are those anyway?) OR even if you purchase 1/20000 of an undivided share in the property, you have to fill up the Form CKHT2A and submit it to LHDN.

Your details will be stated in the back of your co-purchaser's CKHT 2A under "maklumat pemeroleh yang lain" and vice versa.

Each purchaser fills up an individual CKHT 2A to be submitted to LHDN.

If your lawyer did not prepare an individual Form CKHT2A for you to sign, then he's a .....

And that's the bottom line, compadre





hi Dario

just wondering if the following can be deducted against the RPGT payable for sale of property ;-

1) renovation cost
2) legal fee
3) Bank interest
4) maintenance
5) interior furnishing ie furniture, electrical items, lightings etc..

as property is sold as fully furnished...

what else if any?

Thanks

Dear Dario,

I would like to know the steps for refinance a property with title. Then i found this, can you please guide me the steps? Thanks alot.

hi Dario

if there is a discrepancy between the S&P and title with regards to the balance of years on a leasehold property, which one should
be taken as the right one? Title ?

If so, Is it then necessary to have the S&P rectified before I sell the prop?

Thanks

Add in: at the same time the parents transfer the property to the daughter. I supposed MOT should have slot in somewhere. ex-bank is HSBC and current bank is PBB.

- renovation cost - must have receipts
- legal fees - must have receipts - both when buying and selling.
- bank interest - debatable - some lawyers do it, some don't. Can just put it in. If LHDN accept, then ok.
- interior furnishing ie furniture, electrical items, lightings etc

* normally only fixtures to the property will be allowed as deductibles (kitchen cabinets, wardrobe, partitions, extensions). Movable items are not allowed. However, I would suggest that you just put every receipt in and if LHDN calls you up to explain, you can say that it is sold fully furnished. It is up to them whether they allow it as a deductible.

Others:
- stamp duty on MOT
- agent commission (when selling)
- maintenance fees, sinking fund, fire insurance, service charge - just put it all in.

Title.


No need, as long as correct information is reflected in the new SPA.

1. Sign letter of offer and loan doc.
2. Ex-bank issue redemption statement on outstanding balance payable.
3. Current bank lodges caveat upon title (varies from bank to bank)
3. Current bank pay redemption sum to ex-bank (and forwards Discharge of Charge for execution)
4. Ex-bank returns original docs to current bank with Discharge of Charge, Original Title and other original docs.
5. Submission of FA for adjudication
7. Payment of stamp duty for FA.
8. Presentation for registration of Withdrawal of Private Caveat, Discharge of Charge, and new Charge with current bank.
9. Lawyer advises bank to drawdown (release balance loan sum) and hands over original title, original docs, and other duly registered docs as in para 9 above for bank's safekeeping.
10. You get $$$ from refinancing.

This post has been edited by dariofoo: Sep 7 2011, 04:47 PM

i sold 1 property .joint name with my bro.and ask for RPGT exemption .next time if my bro want to sell his own property can he apply for RPgt exemption ?

This post has been edited by ken8120: Sep 7 2011, 05:48 PM

thank you so much, Dario..

you have been a great help to us forumers..we all do owe you loads of lunches!

Hi there, can enyone please consult on this refinance legal charges? Thanks.
Loan amount: RM274,579.01

This post has been edited by juneww: Sep 7 2011, 06:22 PM


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No he can't. Exemption can only be used once, even though it is for a half-share.

You're welcome, jessy. Small matter. Do drop by again.

Dear Dario

I have a problems here.i bought a properties subsaleansd just get a key yestersday but as i go into the premises,i notice there are leaking in some area.can i ask the previous owner to repair it as the lawyer not yet release the balanxce sum to him?in the s&p written

"in the event of any material change in the consdition state nature or character of the property between the date of this agreement and the delivery date,the vendors shall forthwith make goosd the same at the vensdors own xcost ansd expense."

Pls asdvise Dario,the previous owner must repair ?or can i abort this deal ands ask him refund to me if he dont want to repair?i just get a key yestersday


Thanks

Hi there Dario , really need info about this ,

I would like to know if I can get back my booking fee in this scenario .

1. I paid the agent , their company is Oriental to book a condo unit
2. They give me time to process my loan
3. Now let say I want to change my mind , it is since around 1 months after booking fees paid , I would like to get my booking back and cancel my interest on the particular unit .

So , I talked with the agent , he said that because the time passed so long , I will not be refunded . Then , he say it will only be refunded if the loan processing failed . Any opinions ?

Yes, of course, but your solicitor cannot withhold the balance purchase price. It still has to be paid out to the vendor. Get your lawyer to write a formal letter informing the vendor or the vendor's lawyer of the defect. Arrange for a time and date, soonest possible, to view the unit and assess the situation.

I'm sure the agent would've prepared a Letter of Offer to Purchase for the vendor and you to sign. Look at the terms and conditions stated there in relation to your situation now. The usual situation would be that the booking fee would be forfeited by the vendor in the event you abort the transaction, unless you fail to obtain a loan within xxx days. Since the agent mentioned something along those lines, I can only assume that same is the scenario in your case.

So keep your fingers crossed that your loan application will be rejected by the bank. Or else, I doubt if the vendor would be willing to just refund to you the booking fee as he has given up a month waiting for you when he could've sold it to another party.

Err.. quite true on this.

but its not written in the agreement that the vendor have to repair

in the agreement said

"fair wear and tear excepted"

if the vendor dont want to repair.what action can i take?can i abort the deal ansd ask the vendor to refund me the deposit ?

Anyway to make the loan rejected ? Or ... how about we discuss if gettig part of the fees back , maybe 60-70% .

Of course there is no direct term that the vendor has to repair, so the part which says so is:

"the vendors shall forthwith make good the same at the vensdors own cost and expense."

Make good = repair.

Leaking is a defect and is not mere 'fair wear and tear'.

Abort the deal? Isn't the transaction completed by the fact that you've collected the keys? Deposit? Wouldn't you have obtained a loan and gone through the whole process?