ok.Thanks anyway.Lawyer said its undivided landof property but each floor different owner .only with master title.thAT y all borrow from same bank.is it possible the first owner ground floor owner who borrow from the bank first is first charge of the land .Thats y when i sell (maybe i am the second charge) need to go through the first charge ?my silly answer

Hello everyone.

I need serious help. My loan is stuck!!

I have bought a house (auction at high court) last June and only left less than a month before the loan should already release (within 120 days).

My problem is the legal that represent the old owner of the house(bank) did not want to issue letter of undertaking. While my lawyer said my bank didn't want to release loan if they didn't have the letter.

WTF!!! So i don't know which one is suppose to do first? If each party is waiting for each other then it is a deadlock. Can u guys explain so i know which party should i push. tqvm

Is it true that the letter is at high court and my lawyer need to get it from high court before loan can be disburse?

Question for S&P

my current situation :

New apartment, getting VP soon. S&P and bank loan signed with me n my fren.
I decided to buy our his shares, meaning to fully own this apartment.

What procedure I need to do/ better option ?
so far I know is sub-sales option, any other opinion ?

Thanks bro for all the advises. Unfortunately i do not have any lawyer contacts thus this lawyer is being introduced to me by the agent. At least i have the black and white email quotation stating on the figure which i am suppose to be paying. Is that good enough?

dario,

is there any discount on stamp duty for facility agreement for natural love and affection?

hi dariofoo,

got my Deed of assignment but my lawyer gave me verified copy which is photocopy and verify by him

before that, he passed me the S&P with true copy which the one i signed and not photocopy...

is ok to get the verified copy of DOA instead of true copy? i asked him, he say ok one coz is verified by them from true copy and they keep the true copy

Just found out that there is another lawyer fees (for bank). .

actually how to calculate?...my loan is RM 280k and the agent said approximately RM 9k
cannot choose somemore. any1 can enlighten me?
I`m a first time house buyer. thanks

Since you're buying out his share it would be safest to go by way of an SPA. You would need to check with your bank as well with regard to the arrangement with the loan as both parties are borrowers. You might need to refinance it solely under your name.

Up to you,boss. You're the customer.

Husb to wife and vice versa - full exemption.
Parent to child - 50% exemption

How much did you pay for copies? If DOA got 4 copies then one goes to bank, developer another is kept by your lawyer. With regard to the extra copy - normally it will be given to purchaser, and a CTC is given to vendor, as the vendor does not really need it anymore. So perhaps your lawyer gave the duplicate one which is stamped to the vendor? Check with him if there's an extra copy. Always good to keep a proper duplicate as opposed to just CTC.

Use the calculator at the first page. It is same scaled fees for SPA. If you purchase from developer it will be less.

For comparison you can check the earlier posts in this thread for samples.

if not mistaken, i signed 4 copies of s&p and 3 copies of DOA...so i think my lawyer keep it.

LAWYER'S CORNER WILL BE TAKING A BREAK

Dear all,

Due to work commitments, I will unavailable from to date until Wed, 28th September 2011.

Humble apologies.

Do seek advice from those in the open forum if it is urgent.

For those who can wait, do post it here and I'll get back to you when possible.

Cheerios

Need advice here. I bought an apartment in year 2003 but still incomplete till this date.
The developer has been suspended and blacklisted, and the project is classified as abandoned project.
I am paying $1k monthly loan to the bank since 2005. Is there anything I can do about it???
Thanks.

My SPA lawyer left 2 week only (before the 3month deadline) to my Loan lawyer for land title registration and advise bank for loan disbursement, due to that limited time, my loan lawyer unable to advise bank to disburse payment within that 3month timeframe and therefore I has been charged for late payment to vendor.

I asked my spa lawyer why took that much of time till left 2 weeks (10 working days) only for loan lawyer to do thing, they just said it is enough for loan lawyer to complete, is that normal for spa lawyer to left 2 weeks for loan lawyer to do thing? According to loan lawyer, should need 1 month and unfair to them to have just 2 week to do thing...

All the necessary documents from me and vendor all ready for spa lawyer in the very early stage, all legal payment also been paid to them promptly, the property title is free-hold, non-bumi, no restriction and vendor not loan from bank too...everything is ok but yet the spa lawyer still delayed very much.

The spa lawyer don't want to responsible for the late charge. They said they asked vendor to give discount already.

Any advice?

Thank you very much!

This post has been edited by jcwy: Sep 26 2011, 05:34 PM

Sorry for the late reply.

Well, your remedy is against the developer - you have to sue them for breach of contract. However, if they don't have any money to pay you, you just get a paper of judgment which you can't enforce against them. So you spend more money on litigation buy you get nothing back in return.

To be honest, 2 weeks is actually enough for the loan lawyer to complete everything and advice for drawdown.

On the other hand, if the property is unencumbered and free from restrictions, it ought to have been completed much earlier.

However, that is just the general way things work and in conveyancing practice, no one file is the same and each file has its different nature.

Was the vendor also represented? When did you obtain your loan? How soon after the SPA date did the loan lawyer write to the purchaser and vendor requesting for the relevant confirmation, undertakings and documents? All those factors must be considered also.

If you feel aggrieved your remedy is to file an official complaint to the A&S Discip Board [see page one of this thread for more details]

But most complaints to the Board gets dismissed summarily. So, you need to back it up with lots of evidence, like documents, correspondence, etc. If truly there was a long, inordinate delay by the SPA lawyer, then perhaps your complaint will have some merit. Afraid of being penalised, the lawyer would surely offer to reimburse you the late penalty interest.

Why SPA lawyer take up most of the time (2 months+2 weeks) and left 2 weeks for loan lawyer only? According to loan lawyer it is unfair to them to have 2 weeks only to rush. At the end, bank drawdown was delayed around 1 week and I have to pay 1week interest charge to vendor. Therefore, i assumed that SPA lawyer who use most of the time should be held responsible...

Hi,

Thanks for the advise. I guess I have to wait till another developer take over as the current developer already 'pk'. If not, I ended up with more money and time wasted. Sigh...