Remember to tell your lawyer that the developer confirmation is RM50 and not RM25. Under Bill la.

Ask him/her to add.

Good. Life is all about learning


Negotiated. Depends which side of the fence you're on. Vendor will of course insist on a longer date, perhaps 9-15 months, just to play safe. Purchaser will want to move fast, and would insist on 6 months min, 9 months max.

An undertaking is always contingent or subject to the occurence of a pre-condition.

For example, an undertaking in writing from the vendor to refund the balance purchase price to the purchaser's financiers in the event the charge in favour of the purchaser's financiers cannot be registered for any reason whatsoever.

Another example, the purchaser's solicitors undertake to forward the original title and any other documents to the purchaser's financier's solicitors within 10 business days from the date of receipt of same from the vendor.

The purchaser's solicitors can only act upon receipt of same from the vendor. It is contingent upon the vendor's act of handing over the documents to the purcheser's solicitors.

The reason why I say that even lawyers misuse the term is because they sometimes undertake for matters which ought to be undertaken by their client - either the vendor or the purchaser, as the case may be.

A solicitor cannot and ought not undertake for a matter which is ought of their control. That undertaking can be held against them and disciplinary action can be taken for making an undertaking which was subsequently failed to be acted upon.

For example, the vendor's solicitors undertake to hand over the original documents to the purchaser's financier's solicitors upon receipt of the purchaser's financier's letter of undertaking to release the loan sum to the vendor.

A mere undertaking like that is dangerous. A phrase somewhat like these words ought to be inserted at the end, "provided always or subject always that the vendor has given the original documents to the vendor's solicitors".

So the solicitors won't be caught if the vendor somehow did not hand over the documents to them.

You think he will dig own grave,bro?

The vendor actually can go to the malaysia ambassador and sign infront of the official in charge. This will fasten the process of transaction.

Correct if I am wrong, Dariofoo.

This post has been edited by Seremban_2: Jan 23 2011, 12:08 AM

You're right. Attend at the embassy/consulate and execute it before the officer who is a qualified Notary Public

yup. one house is more than 5 years, and another one is about 4 years.

Sorry, one more question, is the penalty charge by bank (last time is Zero moving cost when refinance) due to early settlement can be included in the tax deduction?

Thanks.

My lawyer asked me to pay stamp duty for 5 copies of S&P, is it a normal practise for 5 copies ?

One copy for seller and one copy for buyer so why need 5 copies ?

Wow, that's rather odd... Usually 4 copies would suffice... Maybe it's the normal practice for your lawyer's firm?

Why 4 copies when only 2 is enough ?

Well, the other 2 is to be kept by the SPA lawyer as a 'Backup' of sorts... say for example, if by a miracle, both the seller and the purchaser 'misplaced' their copies, there is still 2 original duplicates kept with the lawyer.

I think there is actually another reason why the lawyers would keep extra... but i just can't seem to remember it

I'm asking about the one you're currently selling. Anyway, if it's > 5 years, you're automatically exempted. You still need to fill up CKHT 1A and CKHT3 as well. CKHT3 will indicate
that your declaration that you've owned it for > 5 years, so the purchaser's solicitors will not retain 2% from the deposit.

As far as I know, it can't. But you can try to include it. At the end of the day LHDN will decide whether to allow it.

4 copies - 1 original and 3 copies. Original is for purchaser, one copy each for vendor, purchaser's financier and purchaser's solicitor file copy.

Yup. I am selling 2 houses at the same time. One more than 5 years and another one not (actually I bought over from my sister more than 5 years but I only did the s&p only on 2007 when refinancing )

So if I 'tumpang' the lawyer from the 2 different buyers, then need to pay rm300 x 2 x 2.......Therefore thinking to do it myself.....hopefully is not so hard.

Thanks bro, you help me a lot. ^.^

You're welcome. Are you going to do the discharge of charge/deed of R&R yourself too?

Think discharge part will let the lawyer to handle it, they quote me 900 to 1k. Can do it ourself meh? Haih....really hope just can ask one party to handle it for me....but heard ppl said if I ask my own lawyer to do it will charge even more expensive. Any Idea? Or u can help ppl to do this all?

Can.


Cannot. I only give advice in this thread

oh...okok...then what is the steps to do the discharge myself? Hard?

By financier, do you mean the bank will keep one copy ?

So the purchaser lawyer will keep one copy ? How about the vendor lawyer ?

Hi Dario,
Happy upcoming CNY!

Sry for the late reply. Quite busy recently.
I have seek advise from my lawyer as well, they also not recommend to do the agreement.
But my lawyer told that they can't process the eviction notice due to my bank loan haven't release payment. |||><
Oh man. My due date is damn near. Will be expired end of January. Now rushing the bank and lawyer.

By the way, regarding the court order. What are the estimate charge for it? Any rough estimation? 4-5k?

1) Apply to Bank for redemption statement (RS);
2) Chase Bank for RS;
3) Pass RS to purchaser's sol;
4) Collect cheque for redemption from purchaser's financier;
5) Prepare discharge of charge (DOC) documents;
6) Pass cheque to Bank together with DOC;
6) Chase Bank for original title and other docs;
7) Pass original title and other docs with cheque for payment of filing discharge of charge to purchaser's sol.

Hard or soft for you?