irise.ufall:



Your SPA was stamped on 24/05/2011. Assuming that it is freehold and no consent is needed, it should be 3+1 for completion. As such:

Completion date - 24/08/2011, extended completion date 24/09/2011.

There's still a lot of time, so even if you file a complaint, it will not have much of a strong basis and may be dismissed summarily.

The part where it was stamped and dated on 24, although it was signed on 13, is not ethical. It ought to follow the date of execution, not date of stamping. It can be stamped anytime within 30 days from date of signing. Not necessarily date of SPA must follow date of stamping.

If you really want to get her moving, perhaps you can write a letter to her detailing the chronology of events, as how you did earlier. Annexe all the emails you sent to her. In the event that there is a delay from her side and you have to pay late penalty interest to the vendor, you can use this against her now and then, you have a basis for a strong complaint as you have suffered loss.

Until then, just keep pushing her.

..and you're wondering if you can claim compensation for loss of time, headache, stress, transport, paper, etc etc, please kindly note that all those cannot be claimed - unless you have a psychiatric report that states that your illness is due to the delay in completing your SPA - which is of course, almost impossible to obtain (not to mention quite impossible to happen too).

Can you please clarify:

1. Are you paying full scaled fees to this lawyer?
2. On the SPA, she is deemed to be acting for whom? You or vendor?

You must know the difference between appointing the vendor's lawyer AND authorising the vendor's lawyer to act on your behalf. If the lawyer is indeed on record for the vendor, then you are deemed to be unrepresented. If the lawyer is recommended by the vendor, but it is you who are paying the full scaled fees, then she is your lawyer and not the vendor's lawyer. She must act in your best interests.

I edited this because I noted that in you had opened a topic in the open forum and you stated that it was 'vendor's lawyer'.

If she is your lawyer how can she take instructions from the vendor to delay things? How lovely it would be if you can get her to put that down in black and white

Good luck mate. Keep us informed as to the progress.



This post has been edited by dariofoo: Jul 5 2011, 05:07 PM

Here's some topics which I managed to dig up:

http://forum.lowyat.net/index.php?showtopi...enants+to+avoid

and

http://forum.lowyat.net/index.php?showtopi...enants+to+avoid

I think the first one is more relevant.

The second is more of a discussion.

Good luck

This post has been edited by dariofoo: Jul 5 2011, 04:57 PM

That's going to take a long time.

Why didn't the developer consent to do direct transfer in your case? Has an MOT been prepared to transfer from them to vendor? Don't the vendor know that he has to pay stamp duty if it is double transfer? If nothing has been prepared yet I see no reason why the dev does not want to do a direct transfer. If you think that your lawyer is not going the full mile for you, then I suggest that you contact the developer yourself and see what's the actual scenario. If can do a direct transfer, time should run from date of SPA.

Is there any black and white from the developer that they do not consent to do a direct transfer to you? Get it from your lawyer.

Of course if double transfer it will take longer. You would need to keep your fingers crossed also that the registration of the first transfer goes without a glitch. If there's a problem at the first stage, of course things will drag even longer.

1) Make sure you don't repeat the previous mistake. Make sure all terms are covered in the letter of offer to purchase and that the vendor has signed it as well.

2) You can calculate it at the first page of this thread. Alternatively, there's at least 50-60 samples of it thoughout this thread. You can have a fair idea from same.

3) MOT has got nothing to do with handover of keys. It is only applicable upon subdivision of the master title to individual title. So once that is out, you would have to pay stamp duty on it. There's no transfer fee, as you stated.

4) Why cash? Why not bank draft instead? Of course if you're meeting an agent who acts on behalf of the vendor, you pay it to the agent. Unless you can get a receipt on the spot, I'd advise against paying cash.

5) Yes. In the letter of offer to purchase, the vendor will authorise the agent or the agent's principal to hold it as stakeholder.

6) You can put in any clause you wish, as long as the vendor agrees to it as well and signs it.

7) Sorry don't really understand. But if you're asking about the law - there's nothing which says that 1% must be paid as deposit. You can put in 1-3%, as both parties agree. The norm is always 2%.



This post has been edited by dariofoo: Jul 8 2011, 08:10 AM

As long as he can show that he is authorised by his principal to act as an agent. Insist for a letter of appointment or anything of that sort. There must be something whereby the principal holds out (represents) that the agent is authorised by them.

But if you issue payment to the principal, that ought to be safe enough. Just don't pass him cash. If still no choice have to pay by cash, might as well bank it into the principal's bank account (company account).

neooren:


Tell the lawyer to waive this:
statutory declaration for 50% stamp duty waiver :100

And what's this?
registration fee on bpp consent: 30

BPP Consent?

title caveat search (master/strata): 120
* RM30/search.

1- after which stage the bank can disburse the loan money?
* Vendor still got outstanding loan? If yes, then first disbursement will be upon receipt of redemption statement together with relevants undertakings and confirmation. If no loan, the one quick disbursement to settle balance purchase price.

2- if i want to resale this property in the future do i need to provide purchaser solicitor with spa of 1st owner-developer?
* Since got individual title, not necessary, but for record purposes, might as well keep it. Remember, you need to keep the original copy, just to be safe. Vendor can keep duplicate, or CTC.

Done

Sorry for the delay. Been busy these past two days. Heavy is the head that wears the crown

What do you mean put out from this? What was the problem stated by the lawyer while advising you? It's only at draft stage. Just amend the SPA accordingly and get on with it. If you want to purchase it, then a subsequent transfer would be necessary. Of course, it would take a longer time. Is consent required? If so, might as well let the vendor go ahead with the first transfer, while he also sorts out the issue of consent in the interim. Hard to give you a time frame. How good is your lawyer?

Can still draft. Use the particulars of the master title. In the SPA, there will be a clause which must be inserted to cover such circumstances. It will cover situations where developer consents to direct transfer, what happens if they don't , what happens if you need consent, etc etc.

Time to put his/her knowledge to the test then - ask her whether she can draft a clause which can cover for the scenarios above. This clause will protect your interests as purchaser. I'm assuming that you're still interested to proceed with the purchase ya.

I don't dare to guess. If I get it wrong then you'll come after me like this ->



Ask your lawyer's learned opinion first.

But it won't take as long as 12 months.

1) You pay the full scaled fees for your lawyer as the lawyer is deem to represent you. The seller is deemed to be unrepresented. To calculate the fees you can download the SRO at the first page, or use the link to calculate.

2) The seller has to bear the cost of it - RM300/pax. For purchaser it is RM200/pax.

3) The seller has to bear the cost - RM300/discharge of charge OR RM400/deed of receipt and reassignment.

Don't be bullied to pay the cost of the above on behalf of the seller. Know your rights

Discharge of charge - where there is individual title out for the property. If the seller has an outstanding loan with the bank it will be secured by way of a charge created over the property. So discharge of charge simply means to remove the charge.

Deed of RnR - where there is no individual title for the property. If the seller has an outstanding loan with the bank it will be secured by way of a deed of assignment duly executed and stamped. So deed of RnR simply means that the bank re-assigns all its rights over the property back to the vendor. After that, the vendor will assign his rights over the property to you - by way of a fresh deed of assignment. Then you assign your rights over the property to your bank via a deed of assignment as well.

I think what she meant was that she wants you to place a booking. In that case, it would be wise to prepare a letter of offer to purchase and put the deposit of 1% down. Perhaps in the letter of offer to purchase you can state that the 1% is refundable, for example, if you can't obtain a loan. I'm sure your lawyer can (and should) advise you further on what to include, and perhaps even prepare the doc for you.

The normal practice is 2%, especially when you deal with agents.

Don't bank it into her account without anything in writing first. Get the letter of offer to purchase executed by her, pay her the deposit as requested and obtain the documents at one go. Do pay by cheque - more prudent.

You can prepare the letter of offer and ask her to sign. Easier. I don't think she would want to prepare it. Remember not to pay anything unless there's black and white.

Cheers.

Sure. Do come back from time to time should you need advice.

Well, your lawyer ought to know how to draft the SPA accordingly to reflect such a scenario - i.e. a timeframe for the vendor to obtain the MOT between him and the developer, and his undertaking to execute an MOT between himself and purchaser within xxx days. It is the vendor's duty to move things from his side. In fact, the completion date would only start to run upon execution of the second MOT.

Should be ok.

Got individual title or not?

Well, if the title search reveals that it requires state authority consent, then yes, that would be an extra document required by the EPF.

As to how long it would take - it is very subjective. A time frame of 6 months is normally given to the vendor. So it can be anytime between a month to just under 6 months. It really depends from land office to land office.

You mean the MOT from vendor to you? In fact you can submit the title search or title deed in the vendor's name first. The title deed in your name is only applicable if you apply after the transaction is complete, like maybe 6 months down the road.