What document is this? Cover letter? S&P? How can it be an S&P if it is not the official one from the lawyer.

Or is it a signing page ?

maybe what the developer means is the signing page?
if signing page.... still safe to sign? or better wait for official one...
sorry since this my first house purchase...

This post has been edited by exkaizen: May 7 2012, 11:20 AM

Hi Dario, since the bank has released first payment for my apartment, now I have to pay the interest, I wanna ask you that this interest that I pay got deduct from the house loan? Or this interest I pay for nothing? Thanks

The prudent way to do it is to sign the whole SPA and initial on every page.

ok... tq for the advice...

Sorry mate I'm not 100% sure on this so I'll refrain from giving an answer. Perhaps your banker can advise you more on this.

Hi, i have a seriously big problem..

Story goes ..

In March 2011 i bought a property. I paid the 10% but was told by my lawyer, X that we will have to wait.. Cuz the house was under a will, and they had to clear to get the probate.. X said that the estimated time for the court to grant probate & etc will be settled my Nov. True enough, in Aug, they called and said it was clear.

At that time, we hunted for loan, and got the loan in Oct 2011. The owner gave us some time to reapply for the banks loans, and didn't bother much about this delay.
Banks agreement were received on 8 Nov.
Bank hired their lawyers, Lousy, and we received their letter on 29 Nov stating that they were acting for the bank.

We produced every doc that was requested by Lousy so that it could be processed asap, since we have waited for soooo long!


But Lousy was indeed a champion. They forgot my case.


Until end January. This was discovered when X contacted them to check on the status, because the S & P was going to expire on 3rd Feb..
The vendor was nice enough to accept the delay, and extend S&P another 1 week.. Vendor and I agreed that it should be settled by Feb 16th.

That 2 weeks also not enough, cuz the Lousy and X cannot get along at the same pace. Either one sure forget to slip in a important document...
I dont know what was the real story behind, but everyone kept pointing fingers at each other.

We incur further delay...
16 Feb - 24 Feb... we kena charge interest for full amt of loan.


24 Feb we received a redemption sum, and I am now charged interest for the Balance not received until 3 May.


Total payment for interest is RM2847.

One thing i know for sure is that i kept calling them towards end of March , but they keep pointing fingers, and all this delay was because one missing doc by one another, and the submission to High court was rejected, etc.

March can delay to May...even when i keep following up.

Still have to pay even when its not my fault... all lawyers delay...

Now vendor is waiting for her cheque from X (full balance).
As for me, I have to pay interest to vendor in order to get the keys..


HOW AH??? how can I not pay, and demand this bunch of lousy professionals to pay for their mistake?

Is this possible??

I have no clue as this is my first house.. and all the excitement all faded already.. wait more than one year, and then now have to pay extra -__-"


PLEASE HELLLPP ! cry.gif

how long the date can be extended ? 1 month ? 3 month or 6 month ?
since the SPA lawyer just keep silence on this.. i call her up every week and she saying the same thing.. pending bank.. i ask her to chase.. she said already..
just wondering if i got the wrong SPA lawyer for my first house purchase

Ltash:


First things first, you should not address your solicitor as Lousy. Even if you think they have not performed up to your expectations, you ought to refrain from doing so. Two wrongs does not make a right.

Why is interest calculated up to 3 May only, if the cheque for the balance purchase price is not out yet? Should it not be calculated from the day the cheque is presented to the vendor? Or has the vendor agreed to cap it at 3 May?

Anyway, since you have both sides of lawyers who are playing the blame game with each other, the only sure way to find out and locate the source of the delay (or sources - both sides may be guilty), you would need to request for a copy of all the correspondence between all the parties from the date of execution of your loan documents, i.e. from the date your loan lawyer came on board.

1.Request it from the loan lawyer and your SPA lawyer
2. Do it in writing and use separate letters to each of them. Don't let them find out that you're requesting from the other party as well.

3. In your letter, you must state your dissatisfaction with the delay.
4. Put on record all the teleconversations and smses sent/received to the lawyers and what was spoken in the said teleconversations.

5. Give them 7 days to provide you with the correspondence, and state that if they fail to do so, you will report them to the Advocate & Solicitors Disciplinary Board [see page 1 for the link to their site and to get more info].

6. Serve the letter by hand at their office and get an acknowledgement with their official stamp and date of receipt.

7. Wait for the documents.

8. Study the documents and locate the delay. See how many days lapse between letters.

9. If you think that there is a party who is negligent, you would need to appoint a lawyer of your own to demand that the law firm in charge be responsible for the late penalty interest (or even both firms).

10. Alternatively, you can directly file a complaint and lodge it with the ASDB as stated above. However, I would advise you to appoint a lawyer to do so as that lawyer would be in a better position to articulate the complaint in a proper and organised way.

* You would need to seek a lawyer who not only does litigation, but who has experience in ASDB matters. Not all litigation-based law firms do these cases.

Good luck

It is extended according to the number of days of delay from the vendor.

If pending bank, you can also call your banker and ask for his assistance to chase it too.

Thanks Dariofoo.


this cheque was a balance left (after the redemption sum was release in on 25 feb) was written to the lawyers name on 3rd may. . so they had to bank in the cheque, and issue another cheque on the vendors name.

So they stop calculating the interest from the date they received the cheque..

I have 2 different amount of interest..
A) delay - 25 Feb (release of redemption sum)
B) 25 Feb - 3 May (when balance paid)


about how much will it cost for a lawyer to help me in this case?


This post has been edited by Ltash: May 7 2012, 05:20 PM

Fees for litigation matters are not fixed.

Lawyers are like cars - you want a Ferrari, Beemer, Honda or Proton? You get what you pay for (more often than not )

the cheque was written to the lawyers name . . so they had to bank in the cheque, and issue another cheque on the vendors name.

So they stop calculating the interest from the date they received the cheque..

Oh ok. I get it. Yes normally it is done that way.

Hi Dario,
Your advise is sought.
We intend to buy a new landed property from developer but were told the Sales & Purchase Agreement is based on schedule H.

Details of of the property:
1) landed property (under con)
2) gated & guarded
3) strata title
4) leasehold

There are many similar properties as above but mostly is based on Schedule G.

Would like to know what are the differences between Schedule G & H and its implications:

Thanks

Thanks dariofoo.

How long does transfer of consent normally take? Mine is already almost 3 months. Yes, vendor has his own lawyer. Any method to hasten this process? They have submitted application its just waiting for it to be done. I feel like there is no protection for the buyer in this case. This can drag on for years and years... and nothing I can do about it right.

Hi Dario,

I'm interested to buy 2nd-hand low/med cost property, but I'm unable to find any info online about relevant regulations or policies. Can you advise?

Thanks in advance.

its actually pending vendor bank to release the title, vendor informed that she already settle the outstanding, but SPA lawyer keep telling that the vendor bank still not yet release the title....

If I'm not mistaken, G & G always fall under Schedule H although it is landed. With regard to the difference, there is nothing material with regard to content. It's just that Schedule H is more in length as it contains provisions pertaining to the common facilities, service charge statement, etc. I don't think there's anything to worry about.

There's no definite ansywer as to how long it would take.

There's no reason why they would want to drag in on too long. The price is fixed and the vendor will be at a loss if the market value increases and furthermore, with inflation in mind, the longer he waits to receive his money, the more detrimental it is to him.

3 months is still considered ok. If you read the earlier posts there are cases where it stretches to 1 year.