Hello, would appreciate if someone can tell me what is the lead time before I can officially call the house my own?

Here's the situation, I purchased a leasehold condo unit in April 2012. It does not possess a strata title yet (everything under master title). Subsequently loan was obtained in May 2012 & the 10% purchase price fully paid.

Just to confirm, am I currently waiting for developer's consent to transfer the ownership from the vendor to me only? Is there anything that is holding the process up?

Actually I wish to renovate the condo unit soon but I'm afraid if something backfired, I will be on the losing end. Please advise.

Do let me know if further info is required.

Thank you.

I called up the AUCTION agent 2 days back ..

Those high court called off case (due to 3% ruling) . He said he managed to contact to house owner, said I can settle with the owner ( The price is 15% higher than the reserve PRICE)

He said all maintenance, quit rent etc will be bear the previous owner.

How to I make sure everything is OK ? the transfer is OK ? I mean the previous owner will clear with the bank ?

I m interested in this house... PM forumers to ask, posted here to further hoping more advice.

thanks notworthy.gif

** the 3% ruling - is 14 days b4 the auction date, the bank is required to pay 3% deposit to high court. If the bank do not pay, the auction will not be proceed.

Bought a house with Glomac.

Suppose get the keys by last month but we have some outstanding amount to pay.. RM4k++.

Problem is those amount is late docs payment by bank lawyer but Glomac charge it on us.

Lawyer lambat buat documentation..bank wont release payment to Glomac so its charged by day.

Anyone ever came across this kind of situation..?

Any advises..?

Many thanx

Yeah you won't have the title which states that the property is in your favour until it is extracted from the land office, though I doubt if it will take 4 months (if you're in KL/Selangor)

You can officially call it your own once you have paid 100% of the purchase price to the vendor and the vendor has given you the keys to the property.

If the delay is from the lawyer and you can prove it then you can contact them up personally and ask them to bear it. But first, to get your keys, you need to pay first and then you seek indemnity from them. To do so, you need to gather evidence first from the dev/bank and then you write to the lawyer. If you can't do so, then you need to engage another lawyer to assist you to write the letter to the bank lawyer.

Already clarify with the lawyer..they're on it..but..very slow.

Since my house there's some defect i want to rectify as well..not to mention abit renovation here & there before i move in.

So now juz wait for the lawyer to settle their part of late payment..?

If you want to wait for them to settle their part before you collect the keys then it is up to you. What I am suggesting is that you pay first and claim later so as not to delay obtaining VP.

What is the normal waiting time actually? Is there something that is set in stone which indicates how long usually such consent will be obtained?

I'm already having the keys to the unit as I'm currently renting it from the vendor.

I was told by the lawyer it will take 2-3 months from the date I paid the the 10% purchase price. Loan has already being secured. So actually what is holding release?

Thank you.

Hi Dario, good day to you...I wanna ask you, once I take the key, after I inspect the house and if I found out it got defect, how long time I able to complaint to the ex house owner to fix it? Should I complaint thru lawyer or direct complaint to ex owner? thanks!

I'll be a magician if I can tell you the answer to that,bro

What I can tell you is that there is no such thing as consent from developer in your case. It is just a letter of confirmation. It won't take long as it is not like consent from State Authority which can take months, even up to a year.


It's not just a simple transaction where you secure the loan and the money is just released. There is a flow in procedure which must be followed. Only at the end will be monies be released. The bank must secure their interest first. Your SPA ought to state a timeframe of 3-4 months. That is the normal time period in which the whole process would be completed, bar any delays.

What defects are you referring to? Is it serious?

Normally the SPA would provide that the house is sold on an as-is-where-is basis. That means the condition when you view the house in the first place would be the final condition the house would be, inclusive of usual wear and tear.

you buying subsale house? i also found defect for my subsale house, but luckily ex owner promise to do it for me, i complain to the agent, after he agree to repair for me, i ask my lawyer to follow up .....

My lawyer said I should check the house before I sign snp or pay deposit...now nothing can do by them ...but i heard ppl said is check after i took the key...hopefully there's no defect now..

Hahaha, awesome Dario is awesome. That's why I was wondering. From the outlook, it looks pretty straightforward but when I queried my lawyer further I get no reply. I think I must have made myself look desperate.

Would you actually advise me to renovate it now while waiting?

Hi, normally how long the property will be discharged after R&R signed/paid? I've been waiting for 1.5 months but the law firm is still saying work is in progress

Hi Dario, would appreciate if you can advise on the following matter.

I have used my name as co-borrower for my cousin properties who is working in overseas as required by bank (ocbc) for at least one borrower is staying in Malaysia. the snp and land title is all under my cousin name.

Before this I also own a property and still under financing. Currently I looking to buy one more property but since BNM imposed 70 percent loan for third property, I cannot obtain up to 90 percent loan.

Czn I remove my name from the loan for my cousin? I have checked this with lawyer of the bank(Ocbc) . According to them, the remove of name is not allowed unless we fully settled the loan. In that case, we need to penalty for earlier settlement. Tks if you can advise it is true as the lawyer inform.

It doesn't matter what your lawyer says, or what people say.. What matters is what your SPA says. Time to open it up and read what it states. Is it sold on an as-is-where-is basis or does the vendor give a further guarantee at the end of the transaction? In 99% of cases, it would be the former.

For the latter, it has been done in a scenario where the property was tenanted and the purchaser requested that another inspection be made at the end of the transaction once the tenant has moved out. The vendor agreed and the SPA was drafted to incorporate that.

So, do look up your SPA and your answer would lie therein.

You've paid your lawyer to do the worrying for you, so don't worry. Questions pertaining to "how long would such-and-such be done?" are difficult to answer as it depends on other factors and other parties - like the bank, the vendor, the developer, the land office, etc. If the lawyer gives you an answer and later there is a delay, you will fault the lawyer and bind him to his words.

As long as it is completed before the completion date, there would be nothing to worry.


I would not advise you to do it first. Perhaps the majority would tell you that there's nothing to worry about and that you might as well proceed, you must always bear in mind that the worst case scenario can happen and if the transaction is aborted, you have to fork out cash to undo every renovation works and restore the property to its original position before handing the keys back to the vendor.

A usual SPA would provide for 10-14 working days for the vendor's financier to execute the RnR and return the said RnR together with the original SPA and other documents to the purchaser's financiers.

You've been waiting 1.5 months for the transaction to be completed, or for the vendor's financiers to return the documents? If the latter, such delay could be due to a missing document.