Hi sifu sifu.. Me as a seller
Is it very not recommended to use purchaser lawyer? We have tight budget therefore thinking of using same lawyer as purchaser.
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Oct 26 2011, 06:35 PM
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Hi sifu sifu.. Me as a seller
Is it very not recommended to use purchaser lawyer? We have tight budget therefore thinking of using same lawyer as purchaser. |
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Oct 28 2011, 02:40 PM
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QUOTE(dariofoo @ Oct 26 2011, 11:50 PM) There are pros and cons. Reading up the first few pages of this thread can help you as this topic has been discussed before. Ultimately, if you are confident that all will go smooth and you don't really need someone to safeguard your interest, then you can 'tumpang' the purchaser's solicitor. Just remember that it is not sharing solicitors, as most people always assume. You are deemed to be unrepresented. Tq dariofoo. Appreciate your contributing here.From the bill from lawyer, there is CKHT which RM300 per pax. We have 3 person, therefore RM300x3=RM900. Lawyer told us that if we have tight budget, we may proceed to submit the form ourselves to reduce of rm900, but lawyer still hold the 2%. Wanna seek your advise, is a straight forward process to fill up CKHT? Go LHDN, fill in the form and submit, thats all? Any fees incurred during our submission of CKHT and lawyer to hold the 2% and submit to LHDN? Thanks. |
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Oct 29 2011, 01:35 AM
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QUOTE(dariofoo @ Oct 28 2011, 11:46 PM) Very honest of the lawyer to say so. Yes he has to hold the 2% as it is the duty of the purchaser to pay the 2% on behalf of the vendor. No fees incurred for submission of 2%. Tq, I'm reading thru the post. It's not that complicated, but you do need to watch out not to make any mistakes, as some LHDN branches are known to turn down forms which are amended or corrected using a correction pen. Check out this thread (perhaps 20 pages back) where there's a member who submitted his own CKHT form. Perhaps you can contact him for further details. Today the document gal in lawyer firm told me that Land Office had upgraded their system might as well as their efficiency. Consent can be settled in 2weeks time. Is that true? If.. There is a clause in SPA stated that as below. QUOTE (b)that the Vendor(s) shall proceed diligently to apply for the State Authority’s Consent to sell and transfer the said Property in favour of the Purchaser(s) (“the said Consent"). In the event that Condition (b) above cannot be complied with and/or the said Consent is refused and/or cannot be obtained within six (6) months from the date of presentation of the application of the said Consent or within such extended time as the Purchaser(s) agreed PROVIDED that the same is not due to the willful default and/or omission of the Vendor(s), this Agreement shall deemed terminated whereupon the Vendor(s) shall forthwith refund the Purchaser(s) all monies received without interest. Is it standard that vendor have to allow for 6months long for this process? This post has been edited by feizaiII: Oct 29 2011, 02:02 AM |
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Oct 29 2011, 03:06 PM
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QUOTE(dariofoo @ Oct 29 2011, 02:25 PM) System may be the best but what if system is down, as it always happens in the govt service sector? Applications can go missing, officers can go on leave/kursus. Talk to anyone who has dealt with the land offices over the years and they will tell you how poor the system is there. You are obsulutely right. We in Boleh land, of cos if thy really improved, thanks God. 6 months is quite standard. Sometimes it can be 6+3 months. Thanks Dariofoo. |
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Oct 31 2011, 07:43 AM
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QUOTE(dariofoo @ Oct 29 2011, 02:25 PM) System may be the best but what if system is down, as it always happens in the govt service sector? Applications can go missing, officers can go on leave/kursus. Talk to anyone who has dealt with the land offices over the years and they will tell you how poor the system is there. Have query on this. Is there any clause that purchaser lawyer had to apply consent within hw many days after signing S&P? Or normally immediately lawyer will apply consent after signing?6 months is quite standard. Sometimes it can be 6+3 months. |
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Oct 31 2011, 04:34 PM
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QUOTE(dariofoo @ Oct 31 2011, 04:27 PM) You can insist on a timeframe to be given to the lawyer if you want to. Any clauses in the SPA is subject to negotiations and approval from both parties. If you think that the purchaser's solicitors would be slacking up to buy more time for the purchaser (like in a scenario where the purchaser is still shopping around for the best loan and needs to buy time), then you can insist for such a clause. TQVM dariofoo. |
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