Hehe..you are funny la..haha

Btw - for tenancy agreement, do we need a lawyer to do this? What if we rent out a unit without agent help, can we draft our own tenancy agreement and will the agreement valid in any case there is dispute between tenant and owner?

I got a noob question , I already signed my offer letter with bank, how long usually does it take for the bank's lawyers to prepare the loan agreement doc, is there any intervention or follow up required from the purchaser (me)? Its been nearly a month since my offer signing but its like no news.. is this normal?

Wow ...thanks man... it can be a hell ...let see how it goes.. .

Want to ask regarding 50% tax exemption in 2011. If I have already received 50% for first house in 2008, can I still claim another house in new exemption for 2011 ?

If my s&P is stamped in 2010 but letter of consent from DBKL is 2011, am i still entitled to new scheme under 2011 ?

thanks.

Shall answer all outstanding queries tmr morn. Had a busy day! Cheers

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Added on January 7, 2011, 11:41 amYou can appoint a lawyer. It doesn't cost much - 25% of monthly rent or RM300, whichever is lower. Disbursements won't cost beyond RM200. You can draft your own tenancy agreement as well. I think the agent can do one for you as well. It would be valid as long as it is duly signed by the parties, witnessed and stamped. No issues there.

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Added on January 7, 2011, 11:43 amOne month is a long time. Too long

I would say between 1-2 weeks, the lawyer should call you. Better call the bank/agent to find out more, as time is running and your completion date will creep up on you fast. As purchaser, you must chase time

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Added on January 7, 2011, 11:46 amHave yet to receive any circular on this matter. Shall try to get more info and update you all on this.

@Jalsrix - you would not be applicable as you're not a first time buyer, irregardless whether the S&P is stamped in 2011 or 2010.

This post has been edited by dariofoo: Jan 7 2011, 11:46 AM

It is already 2011 and no circular has been received ?

I thought as long as it property value is below 350 K, all buyers are eligible ?

Probably out but I haven't had sight of it yet.

Stamp Duty for S&P/SPA:
Current (before Budget 2011 announcement)

Stamp Duty for purchase of residential property not exceeding RM250,000 are given stamp duty exemption of 50%, The exemption is granted on one residential property for each individual Malaysian citizen. The exemption is effective for S&P/SPA executed from 8 September 2007 to 31 December 2010.

Proposed in Budget 2011

•50% stamp duty exemption will be given on S&P/SPA with residential property price not exceeding RM350,000.
•The exemption is granted on the first residential property purchased by Malaysian citizen and eligible to be claimed once only within the exemption period.
•Eligible for S&P/SPA executed from 1 January 2011 to 31 December 2012.

If the above proposal is implemented, you would not be eligible.

Stamped as in stamp duty like those S&P and loan agreement? As for witnesssed - anyone will do right?
Aiks..seem like if i just want to rent out for a year, it seem quite troublesem. Though i can draft my own loan agreement, signed by both parties and maybe withnessed will do.

Hi

I recently purchased a completed property from a developer. During the course of signing the S&P, I found that the First Schedule did not contain the buildup of the house, which I requested the developer's lawyer to add it in. I then initialed the new version of the first schedule.

I just received the stamped copy of the S&P and I found that the S&P contained the original, uninitialed First Schedule. This was also highlighted by the bank's lawyer.

A call to the developer's lawyer got me her staff who said that the developer refused to sign with that amendment so they went ahead with the old one. If I insist on having the house buildup stated, I need to talk to the developer and risk paying late and penalty charges since the S&P is already stamped.

What are my options and recourse?

This post has been edited by zenquix: Jan 7 2011, 02:35 PM

Stamp duty very little. Calculation is not the same as for stamp duty.

No problem to draft your own agreement. But the fact that you think it's a loan agreement, as opposed to tenancy agreement, makes me go like ->

Hey there,

The S&P which you signed is a standard type agreement stipulated under the Act - for landed property we call it a Schedule G agreement, like this:

 Schedule_G.pdf ( 52.1k ) Number of downloads: 36


Look at the Schedules at the back - Layout Plan, Building Plan, Schedule of Payment and Building Description.

Only those particulars are compulsory to be stated in the agreement.

So what do you mean by 'did not contain the buildup of the house'?

Hi

It is a completed property (10% deposit and the rest of 90% within 3 months of S&P stamping) and the lawyer did not really follow Schedule G. My First schedule is a table of information about the property, i.e. vendor, purchases, address of property etc.

For a landed property, it is not required to state the size of the property that one is purchasing?



The image is the excerpt from the S&P. I originally requested the lawyer to add on the size of the house after the address (and initialed that version) but the stamped S&P used the original page (without my signature)

Is the current S&P still legal since it was stamped without my initials on the page?

This post has been edited by zenquix: Jan 7 2011, 04:07 PM

If you're buying from Developer, it must follow Schedule G. How come it's different? Did you appoint your own lawyer? What did he say?

Sadly i did not have my own lawyer. The lawyer says that this agreement closely mirrors subsale as it is a Build then Sell. Note: I added a screenshot on the previous post. Just want to know whether the S&P is still legal without my initials on the page...

This post has been edited by zenquix: Jan 7 2011, 04:12 PM

I see. Build and Sell. Yeah I saw the screenshot. So it's blank like that? Weird.

Yes it's still valid even without initials. Initials no big deal. Signature is the most important.

Is there an individual title out for this? What did the title search say? Your individual title ought to state the land area.

oh it's not blank. I censored it for privacy sake.

No individual title yet.

I only have the land area but the house build up is not stated anywhere in the S&P, not even in the building plans.

Wah, if initials not important, the lawyer/developer can just swap pages in the S&P after I signed it then?

This post has been edited by zenquix: Jan 7 2011, 04:37 PM

House built-up info like 20x70 or 22x75 is it? No la bro that is usually not mentioned. Why are you so concerned about that? Can't you tell by the building plans? I think you can, right?

Swap pages? Did you insist on a photocopy of it after you signed just for safekeeping?

I doubt if the developer's lawyer had emailed you a copy of the draft S&P for you to look at before you attended at their office to execute it right?

Plus you wouldn't have thought about it because you weren't represented by a lawyer, and you would have had no prior knowledge of practice and procedure as well.

In normal conveyancing practice, parties will exchange drafts first (nowadays via email) and the final draft will be printed out as the agreement to be executed by both parties.

In the event of any alteration (which is very unlikely in the first place), we can always fall back on the final draft email.

This is why appointing a solicitor to act your behalf is prudent. A good solicitor, of course.

This post has been edited by dariofoo: Jan 7 2011, 04:46 PM

more of the XXXX sqft since house and land is different. The building plans only state some of the measurements and have tons of disclaimers and caveats.



I did see the draft and and I initialed an amended copy. But the one sent for stamping is the uninitialed unamended one. Will be trying to get the initialled amended version that I signed.

This post has been edited by zenquix: Jan 7 2011, 05:24 PM

Then what they did was wrong. I think you should put in your protest in writing. Get it acknowledged by them. I also think if they still play hardball you better consult a lawyer for proper advice.

Good luck.

guys.

pls advise me on this issue.

i have paid the 2% and then 8% for the s&p. in the middle way of completing the memorandum of transfer. i have signed it but the seller not yet sign it for 3 weeks!

now the lawyer asking me for the legal fee.

now can i pay the legal fee after the seller sign the mot ?
is it the right procedure? can i pay half first ? the othe rhalf pay when doing the loan agreement with
the bank?

thanks for the advise.

this is the bill fax by the lawyer. is it reasonable? this is occupied ,freehold house in puchong costs rm645k and
i got a loan from ocbc bank.
the lawyer is
from the bank .


legal fee 律师费：

s&p 买卖合约 rm 4965
caveat rm350
ckht rm200
total 总数 rm 5615

add 5% government tax
5% 政府 tax rm 275

----------------------------------------------------------------------------------


land title search at land office rm60
去土地局查地 geran
bankrupcy search rm24
查卖主有没有破产

stamp duty 印花
s&p rm40
memorandum of transfer rm13, 350
这个印花税应该是给政府的？

registration fee 注册费
entry caveat rm 320
withdraw caveat rm60
memorandum of transfer rm400
注册caveat 是法律保护屋主，
其他人不能动这土地拥有权。

travelling, printing 交通， 印刷 rm 160
courier chrge 2次快寄去美国 rm546
miscellaneous charge 杂费 rm 50

total 总数 rm 15,010
----------------------------------------------------------------------------------------------------------------

final total 最后总数 rm 5615+ 275.75+ rm15010= rm 20,800.75




ng

This post has been edited by setapak: Jan 8 2011, 02:27 PM