Hi.. sorry Mr. moderator, although I have posted this question under "Home Defect Rectification Checklist, After vacant posession", I really think it needs a topic of its own. ( I am hoping some expert and Lowyat can help clarify this matter)


I hope I can get some help and point of view from the forummers. I was just about to sign my S&P Agreement today but because I've been doing some homework (this forum helps me alot), I made it a point to read EVERY single details of the agreement and I found this:



NOW IT IS HEREBY AGREED as follows:-

.........

10. Vacant Posession

10.1 The parties hereto hereby agree, covenant and undertake that the Purchaser has prior to the execution of this agreement inspected and viewed the physical state and the condition of the said Property and the Purchaser is fully satisfied and accepts the same and and that the said Property is sold on "as is and where is" basis with the vacant possession

11. Condition And State Of The said Property

11.1 The said Property has been made available for the inspection of the Purchaser and the Purchaser has inspected the same prior to the execution of this Agreement. The Purchaser hereby declares acceptence of the state and condition of the said Property as the date of this agreement. The Vendor shall not be required and/or liable to carry any additional works whatsoever on the said Property.


I read and re-read and can't find anything related to DLP. My questions are:

1. Isn't the DLP is a must in every SnP?

2. Is the SnP telling me that I will buy a house (still in construction progress) without any DLP?

3.I haven't sign the SnP yet but I've already paid the booking fees, If let say I decide not to proceed with signinig, can I get my money back?

4. The Real Estate Advisor (from the developer) told me to write a letter stating that I want DLP to be included in the SnP and she said they will comply .. Is this a valid/good move?

5. Any advice regarding this matter?

I never made any joint inspection of the house or whatsoever with the developer side. What I've done was just looking around the development area armed with a map with with highlited vacant units and choose which one I want, went back to the office and paid the booking fee. The house is not 100% ready by the way.

Help me please .. I haven't sign the SnP yet but have put down my John Hancock in other documents. The SnP was the last document they hand-out to me...

This post has been edited by Arkadeuz: Dec 20 2010, 01:59 AM

Anybody?

The standard S&P with 18 months DLP is for residential homes sold by developer.

What is the property are you buying commercial, residential (sub-sale), direct from house developer etc?

S&P can have variations esp for commercial and sub-sale property.


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Posted this on the home defect thread, hope the information helps:-

Long time never visit this page...

Transfer of DLP really depends on how the property is sold. This is not legal advice but I'll try to share.

1) Sold by assignment.
Property sold by assignment can continue to enjoy the remaining DLP because the original S&P is still valid. Layman term is tukar nama.
Sauce: HBA read page 8.
Consent charges
When there is no separate title (individual or strata) the developer shall not withhold its consent to any intended sub-sale, transfer or assignment by the buyer to any third party and shall endorse such consent within twenty (21) days from the date of receipt of such assignment. The buyer shall pay to the developer for giving the consent an administration fee of RM500 or 0.5% of the purchase price, whichever is the lower.

2) Sold by direct transfer.
After individual property title is issued and property registered to the original owner name. The new buyer cannot claim DLP because the original S&P lapses. Basically the new owner is considered to have purchased the property on "AS IS" basis. Similar to what "Arkadeuz" posted.

10. Vacant Posession
10.1 The parties hereto hereby agree, covenant and undertake that the Purchaser has prior to the execution of this agreement inspected and viewed the physical state and the condition of the said Property and the Purchaser is fully satisfied and accepts the same and and that the said Property is sold on "as is and where is" basis with the vacant possession
11. Condition And State Of The said Property
11.1 The said Property has been made available for the inspection of the Purchaser and the Purchaser has inspected the same prior to the execution of this Agreement. The Purchaser hereby declares acceptence of the state and condition of the said Property as the date of this agreement. The Vendor shall not be required and/or liable to carry any additional works whatsoever on the said Property.

This post has been edited by aaronpang: Feb 8 2011, 03:02 PM

Can amendment be done to the SNP once it was stamped?

so got DLP? who is the developer?