Please advise me regarding the legal fees for refinancing of Leasehold apartment RM112,000 . Is this reasonable or still can ask for some reduction?

Prop sale agreement 1,120
Prop purchase agreemn. 200
Charge annexure 200
6% Govt tax 92

Stamp duty on charge 40
stamp duty on Prop purchase agreement 40
Stamp duty on statutory declaration + affirm. 50
OA Search 15
Winding up search 15
Pre contract title search (strata & Master title) 60
Land search upon registration (strata & Master title) 120
Documentation fee 200
Printing & Photocopy 100
Transport 200
Telephone & fax charges 80
Miscll. 50

Stamp duty on sale agreement + duplicate 466
Filing fee -- charge annexure (+PA) 140

Deed of receipt and reassignment 300
6% Govt tax 18
Stamp duty on Deed of receipt and reassignment 40
Filing Fee - Deed of receipt and reassignment 50

Consent to charge 300
6% Govt tax 18
CTC Title 50
Application for consent to charge 50
Filing fee 30

Total RM4044 , Thank you in advance

This post has been edited by kaifahalas: Jan 13 2011, 10:11 PM

This authority is really helping the people. Really great.

I just got a letter from my vendor's solicitor saying that if we were to follow the loan agreement clause and the SPA will be void and the 10% we have paid will be forfeited. Now i'm still waiting for the reply from both my lawyer and the loan lawyer, so frustrating...
When we signed the loan agreement, how come the loan lawyer didn't inform us about this clause, if we have known it then maybe we wouldn't proceed to sign the loan agreement with them. I believe they have read through my SPA before preparing for the loan agreement right.
So if the bank still doesn't compromise with the SPA clause, can i launch a case against them by saying they didn't inform us on such term?

gee.. thx for the speedy reply as I just found out you'd replied..

Well, they assured me it's standard procedure mambo jumbo and can be extended being human not machine bla bla... My only concern is "what if" to safe guard my interest in the event that it is not my fault but rather the banker's fault to cause delay la. If such scenario does happens, i.e. delay from bank, can this be reflected somewhere under some sort of provision so the owner cannot enforce the clause without first taking into consideration the cause of delay, and allow for reasonable extension?

kaifahalas:


Disbursements for the following:
Printing & Photocopy 100
Transport 200
Telephone & fax charges 80
Miscll. 50

Total up to RM430 which is high. Filing fee of charge annexure and PA of RM140 is quite high too. Which area is this? OA search ought to be only RM12.

What's with the vendor's solicitor? I have a feeling that legal fees have not been paid by vendor so they want the cheque to be in their favour. So that they can bank it in, potong for their fees and then issue balance to vendor. Maybe they are scared that vendor may cabut if cheque in vendor's favour.

For all you know, vendor has no idea what's going on.

Parties can always vary/amend any term of the SPA. Your lawyer ought to know about this. He ought to propose this to the vendor, as a simple amendment to allow the cheque to be issued to the vendor can solve the problem, right?

If vendor's lawyer continue to be difficult then bypass him and go talk to the vendor directly. Surely vendor prefers the cheque to be issued in his favour right?

Don't let this unscrupulous fellows forfeit your 10%. Transaction almost complete, so don't let it go to waste.

You can't 'launch' a case against the bank. They prepared an agreement and you signed it out of your own free will and with knowledge. They will not vary the terms for you. Bank loan documentation are standard documents.

You loan solicitor has the duty to explain to you the terms and conditions of the agreement. However, you signed it in the end. You can't turn around now and say that you didn't understand the contents of the agreement. It'll just make you out to be a fool, if you do that.

The only remedy now, and an easy one at that, is to vary the SPA.

For the moment, be still and see what card your lawyer wants to play first. Keep this info as your trump card. If your lawyer's short on ideas, only then you tell him ya.

Keep us updated.

Good luck.

---

Added on January 14, 2011, 9:05 amNope. When it comes to applying for a loan, most people do not do so until and when they sign the SPA. If their financial status is alright and the price of the property is suitable, there ought to be no problem for the loan to be issued.

Your letter of offer to purchase is subjective and can be prepared and signed by both parties as they wish. However, a lot of people appoint real estate agents, who have their standard format letters.

I seriously do not think the vendor will want to grant you a long extension just to allow you to secure a loan before signing the SPA. I wouldn't if I were in the vendor's shoes. Might as well sell it to someone who can sign the SPA with confidence that a loan will ultimately be given in the end. Put yourself in the vendor's shoes. Perhaps he can sell it to someone with a higher price later on? Value of money depreciates anyway. Any delay is detrimental to the vendor more than to you. Signing the SPA faster will give him the peace of mind as well.



This post has been edited by dariofoo: Jan 14 2011, 09:05 AM

Thank you for your view dariofoo,

This is Ukay Perdana , Ampang area.

TQ dario for your advice...one more thing...i just sign loan aggrement that i said before..now i realize facility period im going to pay is 40 years or 480 months...too long...

can i ask to change from 40 years to 30 years..and to be sure i must sign loan agrement again?

correct me if i wrong

tq

I have been asking my kakis around, some of them have had their houses abandoned too. I think this activitiy that hansel mentioned is in MPS or majlis Perbandaran sepang. The abandoned houses which were taken back by the purchasers themselves are in that area. Any purchasers here can confirm this ?

You only signed the letter of offer right? No issues just tell the bank officer that you want it to be amended to 30 years. Small matter. You better read it properly before you sign. Don't take things for granted ya

question boss:

used to see in 'n' years ago movie where cinema thugs would sell the tickets before show starts 2x/> from the original price.
same tactic has been flooding the prop market nowadays evidenced by my recent encounter.
its been norm in the last 2 years whenever there is a new prop launches, the 1st phase or block always taken up within 1-2 days.
genuine buyers only found out later that "thugs" try to resell their bookings by charging 4 figure sales tax. as all buyers always want to buy their dream homes with their hard earn money, they got stuck whether they should surrender to these thugs, pay up silently or pay more (ph2 alwes increases 10%) for a similar property (30-40K can buy nice furnishing nowadays).

What has the law gotta say about this? Thanks in advance for replying.

Interesting question. Sorry to let you know that the law is powerless against these unethical conduct. I think we can call these people 'touts'. Don't need to talk about cinema. These are happening at our bus terminals everywhere, especially during peak season. All tickets sold out, but somehow these touts have tickets by the dozen!

Let me tell you a secret. Come here.

Closer la.

Don't be shy... I won't bite you.. Come...

*The developer's sale staff are part of the 'scam'. They get a commission from the subsequent 'sale'. If they are genuine, they won't sell to all this touts. *

he he pardon my PCK manglish.. ya ya "touts" but they feel more like thugs..
guess I've my answer in mind d. Thanks Dariofoo!

Am still waiting for Hansel to revert with the particulars.

Jigsaw, you might want to read up on the history of this discussion between Hansel and I from the start of this thread. Then you'll get a better picture of what we've been talking about.

Cheers.

ya letter of offer again..hehe

i already tell the bank officer..they will change it to 30 years...i will sign letter of offer again


thank dariofoo...

Dario,.. yoooou,.. and Jigsaw,

Dario is right - the particulars are in the beginning of this thread, but you need to search around a bit because there are quite some intermediate postings too. But I can say our discussion forms the backbone of this great thread which has progressed till today - thanks mostly to Dario, of course.


I was informed this initiative was performed at some place called Lestari Perdana, near to the Equine Park. which involved some great semi-detached houses built inside some hilly areas. The good local authority that Jigsaw mentioned could be Majlis Perbandaran Sepang, if this Majlis Perbanddaran Sepang is in-charge of that area.

Bro Dario - what further particulars would you like to have please ? Is this matter really that interesting in Malaysia ? I sense that it's just you and I talking about this and Jigsaw recently joined in. No one else seemed to be interested

Need Help...

Can i ask is that normal that law firm to request for 7% down payment to be paid to legal firm after the SPA is signed by both buyer & seller, but will not give to owner due to the consent of title has not been obtained??

many thanks

Hi sifus,

I have a joint property with my mum. My mum want to let go her name in the property. Can you advise us the fastest way to transfer the title from joint name to single name?

Thanks,
Puvan

Shall answer all queries on Monday ya

Today's my

PS: Shall get back to you too Hansel!

Yeah .. HaPpy Birthday to you