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jcwy
post Sep 26 2011, 05:33 PM

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My SPA lawyer left 2 week only (before the 3month deadline) to my Loan lawyer for land title registration and advise bank for loan disbursement, due to that limited time, my loan lawyer unable to advise bank to disburse payment within that 3month timeframe and therefore I has been charged for late payment to vendor.

I asked my spa lawyer why took that much of time till left 2 weeks (10 working days) only for loan lawyer to do thing, they just said it is enough for loan lawyer to complete, is that normal for spa lawyer to left 2 weeks for loan lawyer to do thing? According to loan lawyer, should need 1 month and unfair to them to have just 2 week to do thing...

All the necessary documents from me and vendor all ready for spa lawyer in the very early stage, all legal payment also been paid to them promptly, the property title is free-hold, non-bumi, no restriction and vendor not loan from bank too...everything is ok but yet the spa lawyer still delayed very much.

The spa lawyer don't want to responsible for the late charge. They said they asked vendor to give discount already.

Any advice?

Thank you very much!

This post has been edited by jcwy: Sep 26 2011, 05:34 PM
jcwy
post Sep 28 2011, 03:33 PM

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QUOTE(dariofoo @ Sep 28 2011, 02:56 PM)
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.

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Why SPA lawyer take up most of the time (2 months+2 weeks) and left 2 weeks for loan lawyer only? According to loan lawyer it is unfair to them to have 2 weeks only to rush. At the end, bank drawdown was delayed around 1 week and I have to pay 1week interest charge to vendor. Therefore, i assumed that SPA lawyer who use most of the time should be held responsible...

jcwy
post Sep 29 2011, 11:39 AM

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QUOTE(dariofoo @ Sep 28 2011, 09:16 PM)
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.
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Sorry bro, i meant since it is SPA lawyer take up most of the time (in the situation that there is no delay from my side, vendor or loan lawyer for all the necessary docs to SPA lawyer) and loan lawyer got 2 week only, so when happen the case of late penalty charge, i ought to assume that it shall be the SPA lawyer be held responsible...

The loan lawyer sent request letter to SPA lawyer within 2 weeks from the date of SPA signed.

jcwy
post Sep 29 2011, 03:32 PM

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QUOTE(dariofoo @ Sep 29 2011, 03:02 PM)
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.

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First of all, thanks for your help to try sort thing out...

That property never loan from bank before by vendor.
There are no pending doc from me, vendor or loan lawyer when the loan lawyer sent letter of request to SPA lawyer.
The SPA lawyer got tell me once that the Gov valuation is a bit slow...
Now my assumption is the delay till left 2 week is due to the inefficiency of SPA lawyer...
I can't blame loan lawyer or bank because they have 2 weeks only even though they might also delay a bit.
If SPA lawyer be more efficient and allocate just 1 more week for loan lawyer, it will not overdue.
I think SPA lawyer based on their past experience that 2 weeks is enough, but they never consider factor of different bank and different loan lawyer might need different time to process...



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