Yes you would need to find out the market rate. Legal fees would be based on the market rate and is scaled. You can use the legal calculator at the first page to do a quick check.

Hmmm. Good enough to show intention to create legal relations there. If he still refuses to sell after the LOD, then you have to file a civil suit for an injunction against him and at the same time seek for an order for specific performance. However, your case is not a 100% open-shut case, as they call it, as you have not paid him any consideration. You may come unstuck there. Seek for advice and counsel from your SPA lawyer first before deciding. Am sure there is a way to settle it without having to resort to litigation.

What if you win the case (after a few years perhaps, if it goes on for appeal) - and the vendor totally wrecks the house in spite and anger before moving out? It has happened before. You would then be looking at a bigger bill to make good the damage. Yes you may sue him for causing all that but once he has moved out can you trace him and serve the legal papers on him? Doubt so.

Weigh your options carefully. If you really think that it is worth it, then go for it. If there are alternative choices to buy, you might as well save yourself the headache, and legal fees for the civil suit (which will not be cheap as injunctions are costly).

Good luck

Perhaps your property is purchased from developer (in that case there would be 30% reduction in fees) and is below RM350K (in that case there would be a 50% reduction in stamp duty)

Why don't you get a full invoice rather than just being informed of a lump sum of RM4.8k like that? You can then compare it with the many examples in this thread. There's easily 30-40 samples here for all types of loans/SPA and property types.

Sorry boss missed out your earlier post. Too many criss-cross all of a sudden.

How can the bank suddenly find out that there's a first charge over the property? How did they secure their interest in the first place if they did were not the first to create a charge over the property?

Furthermore, the purchaser's financier would not have released the redemption sum unless their interest is secured. If there is another earlier charge created over the title, they would've been reluctant to redeem a loan with a security which is not lodged as priority in sequence.

Are you represented? Ask for a copy of the title search from your lawyer and take a look at it. You can see if there's another charge which is created over the property.

If there is a first charge over the property, there is no way your financier is holding the original title. It will be with the first chargee. Your financier will be the second chargee.

So probably there's more than meets the eye in your case.

You give notice of your claim via the LOD. If the vendor doesn't want to reply, then you go for a civil suit. Same procedure if you want to go for specific performance, or just damages.

Both via civil suit, but of course if it is for damages it is quite straightforward and in all probability, the vendor might even settle out of court and pay you your claim, as long as it is not excessive and you are merely claiming for reimbursement of costs incurred.

Come out with everything? What do you mean? If an itemised note of charges/invoice it is just a single page of paper. Won't take long. 10-15mins? But if you don't ask you don't get it la. What is quick quotation anyway? For any services provided you must insist for a full and itemised quotation.

Unless you really want to be taken for a ride by this lawyer.

If the lawyer is still dilly-dallying over the matter, might as well move on to the next one who is at least more honest than this one.

This post has been edited by dariofoo: Sep 21 2011, 08:23 PM

Sorry boss this is beyond my limited expertise and knowledge. I fail to understand how a property without an individual title can have a charge registered in favour of a chargee for one chargor, when the other 3 owners/borrowers do not have a charge created in favour of their lender bank. Same land, same scenario, but different security documents?

And if it is the same bank all the way, how can this same bank just "find out" there was an earlier charge created in favour of...their own selves?

Sorry bro I don't think I can help you out in this. I hope you have a lawyer who can help you settle this mess. Good luck.

Humble apologies

You should be dealing direct with the lawyer at this stage, not going through the agent. Your approach is against the flow of how it ought to be - you have to agree on fees first, then appoint the lawyer to start work. If you allow him to start work, even to prepare a draft SPA, you are deemed to have appointed him. So when the invoice comes out and if you don't agree and want to change solicitors, you will still be billed for work done. So my advice to you is to agree the fees first before confirming that you want this particular lawyer to act for you. Surely you must have confidence in the lawyer before anything. Don't take things too lightly and then later regret.

Good luck,mate.

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.

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

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.

Bro, I asked you few questions to help you shed more light on this, so please do answer those questions. No point asking me back again the same thing. I don't know why your SPA lawyer takes up so much time. If you want, you should demand for all the correspondence from your SPA lawyer. That ought to help.

No prob, small matter.

2 weeks from date of SPA is pretty fast. Now, has the property already been reassigned to the vendor or has the discharge of charge already been registered? Sometimes the vendor may have settled the loan but he did not instruct the bank to appoint a lawyer to do the discharge/reassignment so that the original documents are returned to him. In this case, if the vendor already has the ori docs in hand, that ought to save at least 3 weeks.

So now you need to determine, through the correspondence between the vendor, SPA lawyer and loan lawyer, as to where the delay came from. Not fair just point the blame at the SPA lawyer from the outset. Perhaps the other parties replied to his correspondence late. You'll only know til you find out.

So start gathering the correspondence (if any of the lawyers did not cc it to you before) and put the pieces of the jigsaw puzzle togehter. From there you can't tell who's dragging their feet. Oh, don't forget the bank too, There might be a delay there too.

You can't effect transfer of a property, even out of love and affection, without first having it duly stamped by LHDN.

So, perhaps it's a scam going on. Just go straight to the land office again (get someone to accompany the old folks), insist on seeing an officer and inform him/her what has transpired. If it is a scam, the old folks have to lodge a police report immediately. With the police report apply for a registrar's caveat on the property, just to be safe in the meantime.

You need to appoint a lawyer to handle the transaction for you from A to Z. Going straight to the land office to transfer it immediately by filling up a form cannot be done, and can lead to problems, like the current case.

Act fast before it is too late.

1) Not obligated. It is their discretion
2) No. Unless you instruct them in writing and get it acknowledged. Even then, it is not a sure bet that you can nail them for negligence.