Can I ask a question on signing SPA?
I basically not married but my gf is asking to include her name when signing the SPA. I have no objection on that, but in terms of the lawyer fees, is there any difference in the lawyer fees with adding additional name to the SPA?

Thanks! That's what I have thought

I remember is something like for the first RM100K, it will be charged 1%, subsequent will be 0.7%. Correct me if I am wrong, guys.

*removed*

This post has been edited by lyt25_1234: Jul 14 2011, 10:08 PM

Hi dariofoo,

I have a question regarding the redeemptions.
I am using purchaser's lawyer, so meaning I have not appointed my own lawyer to sell my house.

From the lawyer, they said my first redeemption cheque will arrive around 1 month to 2 months time after the bank have process the transfer of title or something similar (I am not sure here) and will issue me the first redeemption cheque. So my question is, what is this first redeemption cheque?

dariofoo,

I have just contacted my purchaser's lawyer to enquire about update on the final redeemption, and the lawyer told me that it will be done soon but the process seems slow 'cuz it's already 2 months and I don't see progress. I still have another month to go before reaching 3 months after signing the SPA. So I am worried if anything goes wrong or delayed, I might be charged 8% for the additional 1 month ('cuz the SPA stated 3 + 1 months, and the additional month will be charged 8%).

How is this 8% charged? Is it to me (vendor) or to the purchaser or to the bank (occumbrance)?

Also another question related to submitting the latest Cukai Pintu and also settling other bills (TNB, Water); do I need to personally go to TNB and request to cancel off my TNB and also for the Water from SYABAS myself? Or you would advise me to let the purchaser cancel off my name and register his own name for TNB and SYABAS?

Thanks! For now I just need to give the assessment for the next half the year. Lucky I called and find out, if not I will be the person who delayed the process.

hi dorifoo,

Can I ask usually how long it takes to process the bank loan?
One month? less than a month?

Hi dariofoo,

Right now my bank has finally closed my house loan account, then I proceed to call up my buyer's lawyer for the status and told me that it's better that I call up my bank to ask to expedite the transfer of the title to the new owner. And so I did that and my bank said it will take about 1 week or so to get it done.

So question is, is there a way to push the bank to hurry up on the transfer as the SPA I signed is already late by a week. I am afraid the buyer's lawyer will charge me 8% interest.

Please advise.

Hi Dario,

I have a quick question regarding seller's lawyer withholding my 2% of the purchase price for government tax. How can I find out if that 2% tax is already been filed in the tax?

Hi Dario,

Do you know of any template document for tenant agreement for renting out my house that I can use?

Thanks Dario!
This is something new to me, as I have not done any rental before!
Now that you mention it's all bear by the tenant, I am happy now

Hi Dario,

Question: If the 3 months is up and in the SPA it is stated 3 + 1, then is the purchaser held the LPI if it goes into the additional 1 month period? Is that what the additional 1 month means?

Hi Dario,

How is the late interest being calculated?
Is it 8% upon the purchase price?

Okay,
So if the delay is cause my my occumbrance (my bank), what can I do to ask my bank to absorb the LPI?

'Cuz right now it seems that my lawyer is favoring more towards the vendor side rather than my side. I am the one who hire my lawyer and the vendor is using my lawyer as well.

Hi Dario,

Yes, already bug the mortgage agent, but it was very late already. Reaches my 3 months SPA period.

The reason I say so is because my lawyer didn't help me bug mortgage agent loh....

Thanks Dario!

So given an example, the mortgage loan of RM100K, and the LPI is calculated on daily basis; the delay is 14 days, so the calculation would be:

(100K x 8%)/365 x 14 days?