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TSdariofoo
post Oct 14 2011, 12:38 AM

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QUOTE(leechers @ Oct 13 2011, 05:10 PM)
the apartment that i will buy is rm145k, lawyer quote me rm4500 for the fee. is it expensive?
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Please compare your quotation with the numerous samples in this thread to get a clearer picture.

QUOTE(leechers @ Oct 13 2011, 05:10 PM)
as i mentioned earlier that it is via agent and i did ask the agent about to use my own lawyer but she explain to me that draft has been made and it is not adviceable to switch lawyer at this stage.
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You have the right to select a lawyer of your choice. If you had given the green light to appoint that lawyer and work has already commenced, you would have to pay the legal fees. If you want to discharge that lawyer at this stage and pick another lawyer, you would have to pay 50% of the full scaled fees for work done. That is the norm.
TSdariofoo
post Oct 14 2011, 12:50 AM

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QUOTE(spchon2 @ Oct 13 2011, 09:24 PM)
hi dario,

thanks for ur explanation. this lawyer didnt give any disc. they just simply charge on me. what can i do to it?
*
Get another quotation as this one is quite on the high side, as you would find out if you had compared with the other samples in this thread. nod.gif
TSdariofoo
post Oct 14 2011, 12:26 PM

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QUOTE(ruben7389 @ Oct 14 2011, 07:42 AM)
Hi All, just want to check on 2 things here.  My draft SPA states vendor will need to pay me 2 x 10% should he back out after signing SPA.  What about the legal fee which I pay? can I put 2x10% plus my upfront cost of legal fee since I will still need to pay that if he backs off?
Secondly, since my property was just issued CF, there are some defects that need to be repaired.  I tried to put it in the SPA that vendor should rectify before the end of SPA but vendor says thats not his problem and he should only inform and chase developer.  How do I protect myself against this ? ZThanks in advance
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1) Yes you may, but it is not the norm. The extra 10% as compensation is intended to compensate you, among others, the legal fees incurred.

2) If it is within the defect liability period, the developer will bear the costs of repairs. You can't put the burden on the seller. The normal practice is that unless there are serious structural defects, the property is sold 'as is where is'. Frankly, it is just a small matter. You can sort it out with the developer when you take vacant possession.

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TSdariofoo
post Oct 15 2011, 10:28 AM

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Please feel free to compare with the earlier samples in this thread. There's many to compare with. But since you've already asked for a discount and one was offered to you, I don't think you should worry too much. If you've been reading up on the previous posts in this thread, you'll note the trend that where discounts are offered, the disbursements will be marked up to make up for it.

One thing to note - if there's no individual title - since the security is by way of assignment - why is there a charge for entry of caveat at RM350? In most instances, lodgment of private caveat can be waived by the financier. Just check that one out.

Good luck icon_rolleyes.gif
TSdariofoo
post Oct 15 2011, 11:27 PM

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QUOTE(allancth @ Oct 15 2011, 06:02 PM)
Hi all, I need some guidance on how to deal with this issue.

Recently I found an affordable house and decided to buy the place. The contact of the property agent was displayed on a banner of the place, so I called and arranged a meeting with the property agent.

So we met and he showed us the place and I remembered very clearly he mentioned that the owner is a Malaysian Chinese (to be exact, he just said Chinese though). I paid the deposit and I started to find a lawyer. I found one and I passed all the information and documents to my lawyer.

Moving forward few weeks later, at the very end of the process before signing the S&P, my lawyer informed me that the unit is a bumi lot. I've also signed the letter offer from the bank too that time. My lawyer then helped me to get back the earnest deposit, which the property agent did refund to me.

But still, there is the legal fees and a small sum (for the bank) which total to half a thousand approximately I have to pay. Can anyone advise how I can get the agent to bear these cost?

Thanks in advance.
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Question: If you had collected all the documents, how did you (or your lawyer) not realise that the unit was a bumi lot? Even when you signed the letter of offer to purchase prepared by the agent, wouldn't it not state the particulars of the vendor? Plus, you or your lawyer should've checked with the management office or developer whether the said unit was a bumi lot or otherwise. You can't merely rely on the representations of the agent. Caveat emptor - let the buyer beware.

As such, it is not a clear cut case of negligence on the part of the agent. You and your lawyer (whom ironically is charging you fees for work done) ought to have been more vigilant. As such, you can send a letter of demand to the agent, or an official complaint to the agency, but you may not have an absolute case against the agent to make him liable for your loss.

From another perspective, why was the lawyer not more vigilant on your behalf as well? Perhaps a finger of blame ought to point that way as well. Think about it.

That is my view on that.

With regard to the letter of offer which you signed, there is no binding contract there as the offer is contingent upon signing of the SPA. By right it ought to have been executed after the SPA is executed. Since the SPA is aborted, the letter of offer does not have any legal effect at all. As such, the bank cannot compel you to pay any fees whatsoever to them.

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This post has been edited by dariofoo: Oct 15 2011, 11:31 PM
TSdariofoo
post Oct 17 2011, 10:59 AM

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TSdariofoo
post Oct 17 2011, 02:38 PM

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QUOTE(stormchaser @ Oct 17 2011, 11:14 AM)
Recently i received together two letters from lawyers.

Perfection of Transfer and Perfection of Change

Q1 : Should i pay the above? If not who?
Q2 : It is charging ridiculous charges such as transportion = RM150, printing/postage  = RM 75, telecomunication = RM75 and miscellaneous = RM50.  Not complaining on Profesional charge = RM200 and other stamp duty charges.  All items charged in both letters.
Q3 : What is the letters about?  Understanding a little that it's regarding the strata title stuffs.
Q4 : Understand that professional fees cannot be discounted but is the other ridiculous, can it be reduced?  Since it's an high rise, should that they doing the same thing together? printing RM75? what are they printing?

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1. Yes you have to pay.
2. It's not ridiculous. It's normal charges but perhaps the amount is a bit high. If it is a full SPA then perhaps it would be justified.
3. I think it is regarding the issuance of strata title, so the lawyer is now billing you for it - to register the transfer and to perfect the charge with your financier.
4. Yes you may ask for discount for disbursements. Even the RM50.00 misc can be totally waived.
TSdariofoo
post Oct 18 2011, 09:26 AM

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QUOTE(stormchaser @ Oct 17 2011, 05:24 PM)
is "perfect the charge" meaning add the charges to the loan amount at the bank?
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No,bro. Charge in this sense means mortgage, or gadaian - you charge (gadai) the property to the bank as a security for a loan granted by the bank. When it is without title, the security is a deed of assignment. Now that title is out, it has to be replaced by a charge. The charge is created by you in favour of the bank. The relevant form is Borang 16N.
TSdariofoo
post Oct 18 2011, 09:30 AM

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QUOTE(blueicecube @ Oct 17 2011, 09:08 PM)
I need help & clarification.

An owner of a low cost apartment (in the SPA - this sales and purchase agreement right?, its stated rumah kos rendah) wanted to sell his unit to me & we have agreed on a purchase price. Upon applying for loan, I went to the panel lawyer of the bank to start preparing for SPA.

The office personnel in the lawyer office told me that I should not buy the house because due to the title of the house being low cost, I have to apply for rumah kos rendah from pejabat hartanah (whatnot), which I won't qualify, and this leads to me unable to have the strata title for the house upon the lawyer applied for the strata title from  the land office.

1. Is this true?
2. If this is true, is there any loopholes? i.e owner must live in the house for 5 years before selling to a person not qualified for low cost housing

Help, help.

Thank you very much for your time and thoughts.
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1. Can't say for sure. Don't just take the bank officer's word for it. Check with the developer if there are any restriction-in-interest in the property. Check the SPA as well if there are any restrictions imposed upon the purchaser (the current owner).

2. Legal loopholes, you have to look for it in the SPA. Illegal loopholes = wrong forum nod.gif

TSdariofoo
post Oct 18 2011, 08:57 PM

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QUOTE(spchon2 @ Oct 18 2011, 10:00 AM)
hi, may i ask for partial 10% downpayment, i should write cheaque to my lawyer firm or the seller?
*
Norm is to seller directly. nod.gif
TSdariofoo
post Oct 18 2011, 09:00 PM

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QUOTE(blueicecube @ Oct 18 2011, 05:00 PM)
its confusing. Developer told me can't but when the owner called the Developer they said its possible, but with a little bit nuisance :-P

i guess this ruling is not standardized
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Of course you have to take what the owner says with a pinch of salt as he will say anything to seal the deal. If you have spoken to the right person on behalf of the developer and it's a no, then it's a no.

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TSdariofoo
post Oct 20 2011, 10:43 AM

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QUOTE(jalsrix @ Oct 19 2011, 05:08 PM)
1. I would like to know how to get extra money on my existing loan without resigning/refinancing the bank loan ?

I took bank loan below 70% last time.

2. Can a non-bumi buy apartment from bumi ? The real estate agent said it is possible. But in future, if I want to sell it again, will it become non-bumi unit or bumi unit bcos I bought it already.
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1. Tell your mortgage consultant of your current bank that you want to top-up your loan. They'll explain the rest. nod.gif
2. If it is a bumi lot, you might want to check with the developer first. If was merely bought with bumi discount as it is a bumi purchaser (the current vendor), then it makes no difference. You can buy it.
TSdariofoo
post Oct 20 2011, 10:54 AM

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QUOTE(ken8120 @ Oct 19 2011, 06:31 PM)
Dear Dario

i signed s&p with the buyer on 1 June 2011.according to the S&P completion date shud b 3+1 from 1 june 2011.On 2 sept 2011 ,purchaser financier paid redemption sum to my bank. Balance purchase price to b paid later.  but my bank took 22 days (S&P 10 days) which is 25 sept 2011 to execute the discharge of charge and original document . .today 19 october ,the lawyer stil havent receive the balance from the purchaser's financier.

Wish to ask ,am i be able to get 8% interest perannum from the purchaser?Tq Dario
how to calculate
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Yes you can. You would just need to deduct 12 days from the total number of days of delay to account for the delay on your part. You can calculate the total days of delay once the SPA is completed - normally from the date of receipt of the purchaser's solicitors of the balance purchase price from the purchaser's financier. nod.gif
TSdariofoo
post Oct 21 2011, 12:38 AM

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QUOTE(EvaGal @ Oct 20 2011, 12:14 PM)
Dear all sifus,

  I have a question about the balance sum and 10% deposit authorisation.  This house is under two people's name, but now when this house is being sold, the money value will be divided into two shares.  However, one of the shares is wished to go into that person's father's account.  Is it actually legal to have drafted an agreement between them about authorising the lawyer to disburse that share of money into the father's account instead of that particular house owner.
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A letter of instruction and authorisation from the vendor in question would be sufficient. nod.gif
TSdariofoo
post Oct 21 2011, 12:40 AM

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QUOTE(noien @ Oct 20 2011, 01:16 PM)
b4 this, i went to tribunal court as my developer was late beyond schedule while waiting OC.then i won the case and the developer said that he would pay the money in installment instead of one shot.

that was 2months ago when he said that in court but till date, he havent even pay any cent for the fine.should i write a complaint letter to tribunal again?
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How much is the sum involved?
TSdariofoo
post Oct 21 2011, 12:43 AM

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QUOTE(ken8120 @ Oct 21 2011, 12:21 AM)
thank dario
by the way the 8% interest count including the redemption sum as well (balance loan sum + redemption sum) or just the loan sum?
*
Balance purchase price.

Whatever is left from the loan sum after redemption is the balance purchase price (assuming that it is a 90% loan).

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TSdariofoo
post Oct 21 2011, 11:12 PM

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QUOTE(kennielee @ Oct 21 2011, 04:52 PM)
Hi dario foo:
me bought a house 3 months ago and just right before the vendor collected the final payment today I found out that he owe tenaga around 12000 in arrears. So I quickly informed my lawyer to try to withhold payment but my lawyer said it is better to let the vendor collect the bank cheque and ask for a postdated cheque from the vendor in return for the amount outstanding. So now my lawyer had the vendors cheque dated next friday. Is this a proper way to do it? Shouldnt we withhold payment and force the vendor to clear all debts before final payment? What can i do if the vendor reneges? My lawyer said this is the norms of the practice that we cant withold payment
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What is stated in your SPA is what matters, not the "norms of practice". This is a contract where parties are bound by the terms and conditions, not any norms or customary practices.

What is usually done is that the purchaser's lawyer would insert a clause in the SPA for the vendor to provide a copy of the receipt in relation to utilities, maintenance, quit rent, assessment, etc before the completion date. Some go further and authorises the purchaser's solicitors to deduct any outstanding arrears due and owing by the vendor from the balance purchase price in order for the purchaser to settle same on behalf of the vendor.

As such, ask your lawyer if such clause is there.

Post-dated cheque has no value and is as worthless as an I.O.U note.

You better settle this problem before the cheque reaches the hand of the vendor. Of course, if your vendor is gracious, he can agree to contra the sum from the balance purchase price. Or if he agrees to settle it for you within xxx days after receiving the sum. But you bear the risk if he fails to act on his promise and rides off into the sunset.

Good luck icon_rolleyes.gif
TSdariofoo
post Oct 21 2011, 11:13 PM

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QUOTE(haineyy @ Oct 21 2011, 05:05 PM)
hi dariofoo,

i get the below quote from my lawyer for legal fees purchased price RM215K. Can you pls advise which one is overprice and which one is fair price? Tq smile.gif

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There's a lot of samples throughout this thread which you can kindly refer to and compare. If you still have any doubts on a particular charge, do ask. icon_rolleyes.gif
TSdariofoo
post Oct 21 2011, 11:16 PM

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QUOTE(botaknet @ Oct 21 2011, 08:50 PM)
yours 215k = rm7316

mine is 240k = rm9956.

see? which one more overprice? grrrrrrrrrrrrrrrr
*
That is like comparing apples with oranges. It depends on the type of property in question. Each property has its characteristics which dictates the charges. With title is always more expensive than without title, as costs of caveat is incurred. If consent is needed, it will cost more. Also depends on the number of purchasers, vendors involved, as CKHT and search charges are doubled with each pax added.

Or perhaps you asked for a big fat discount so everything is marked up and then deflated, so that the house still wins. nod.gif

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TSdariofoo
post Oct 22 2011, 11:58 PM

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QUOTE(kennielee @ Oct 22 2011, 01:14 AM)
Hi Dariofoo:
thanks for your reply. Your answer is exactly is what I tot should happen. I look thru the s/p it does state the vendor must clear all utilities bill but did not state I can deduct the amount from the final payment. Anyway it is too late now since the vendor got the banker cheque from my lawyer already...
In the event that vendor refuse to pay the teenaga bill, what can i do now?
*
I'd advise you to confront your lawyer and demand an explanation as to why your interests were not protected via the SPA? Proof of payment of utilities bills are important, so as to avoid messy situations like the one you are currently facing. Tell your lawyer that if he does not sort out the settlement of the payment, you would seek independent advice to pursue a formal complaint against him with the A&S Disciplinary Board (see link at first page of this thread). That ought to shake him up a bit and surely that would spur him to chase the vendor to settle his dues.

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