O..ok..will do..thanx..btw,the agent told me that the whole cost is including the bank legal fees as the current S&P lawyer is one of the banks panel lawyer..can like dat meh?

Can't be. There would be another set of fees for loan documentation.

can i request for a quotation for loan agreement lawyer fee from Bank's panel lawyer to compare with other firm ?

i borrow legal fee on top of housing loan amount from OCBC. the banker told me that OCBC need to redraft the LO , if i want to change the loan agreement lawyer to my developer's lawyer . But as far as i concern , LO doesnt stated down the lawyer firm appointed and LO doesnt not related to OCBC panel lawyer.

I consulted my developer office and they told me that i still can choose my own lawyer even i signed the LO. LO is LO , doesnt related to lawyer appointed. so no need to redraft LO...and the LO never mentioned about the lawyer firm as well.

Yes you can request.

LO depends from bank to bank. Some would state the name and particulars of the law firm appointed to handle the loan documentation with tel no in order for you to contact them. If there is no law firm stated there I see no reason why the bank would want to redraft the LO. You might want to check with another OCBC banker to see if this is common or whether your mortgage consultant is trying to pull a fast one on you in order for him to get his panel law firm to do it and collect some commission.

juz realised LO got stated down the solicitor's address and contact no.

and its written OCBC's solicitor. so i guess i will juz use back their panel . i believe they wont overcharge as there is guideline by bar council to follow right ? and i can dispute them for the amount charge if i found not reasonable isnt it ?

thanks a lot Dario !

You should always get a quotation from the law firm first BEFORE you appoint them. Once work has commenced it's going to be a problem to switch. If you had taken the same solicitor for your SPA, you could've requested for a discount on disbursements (expenses) as this would be given if you take the same solicitor for both. That would be one advantage, plus it would save time as well.

Legal fees follow the scale but disbursements always differ from firm to firm.



This post has been edited by dariofoo: Jul 26 2012, 03:16 PM

the bank appointed the firm without my acknowledge. i have yet to provide sufficient documents to proceed for the loan. they still need some documents frm me ..

This post has been edited by steventan85: Jul 26 2012, 01:37 PM

By right they should let you choose your lawyer. Even for banks who insist on their 'full panel' firm of solicitors, they should give you a list of it and let you choose yourself.

But in practice, some (am not saying all ) want to cari makan so they would automatically push it to their own personal panel firm in order for some to fly their way.

i see. i dont mind about that as long as the fees charge is reasonable. and smooth process

but i cant get quotation to compare d..

This post has been edited by steventan85: Jul 26 2012, 03:24 PM

If you rajin you can browse through the various samples and my comments thereto in v1 of this thread.

yeah.. saw a lot of examples.. but can we dispute on the charges in case they charge unreasonable disbursement fee ?

thanks a lot for ur effort. appreciate it !

Not dispute but ask them to justify. If cannot justify, then ask for it to be slashed or charged accordingly.

Hi Dario

Bought a condo about 3 years ago from the secondary market..
now title is out..

do i have to pay stamp duty to register the title in my name??

tks

Hi Dario,

I intend to purchase a property (a subsale unit).
My doubts are:-

1) The developer has gone bankrupt and now under a Badan Pengurusan (or Liquidator). May you advise in this case, what things should I be careful off?

2) I went to a few banks, some keen to lend me money but some dont. Why? Is it because the developer has gone bankrupt?

3) If the developer has gone bankrupt, will it be very difficult for me to transfer name from the current owner to my name (be it whatever documents). At present, there is only a Master title but no Strata title.

4) Do you know roughly what is the bank checklist (docs required) before the bank will really release the funds to the owner?

Thanks dario.

When you bought it as a subsale you would've paid full stamp duty on the DOA.

Now your MOT would only required nominal stamp duty of RM10 to be paid.

1. This issue/topic has been asked and discussed before earlier in this thread so do read up.

2. Not sure. Perhaps you ought to ask a banker.

3. If the Liquidator has sufficient records and documents, it ought to be ok. If the developer left things in a mess, it may take awhile to reconstruct records from scratch. To get strata title is very hard to say as the Liquidator's job is to save money, not spend it. Furthermore. any money the developer has left would go to the creditors. However, one can transact by way of assignment - Deed of Assignment.

4. It's quite a lengthy list - around 20-25 documents. Any reason in particular as to why you ask?

This post has been edited by dariofoo: Jul 26 2012, 06:22 PM

Hi dario..

Another question..can i change the S&P lawyer if there is another lawyer that quotes a better fee eventhough i've already paid 3% deposit on the property?

Tq

This post has been edited by mizeily: Jul 27 2012, 07:40 AM

As long as your lawyer has not started work, it's ok. Otherwise, you may need to reimburse them for any expenses incurred. If they have drafted the SPA, then you would need to pay more - how much? Subject to nego but not more than half of full scaled fees.

Dario,

First of all, thanks for your advice couple of months ago on my house selling transaction.

Right now i have move in to my new house and is one of the committee member of the residence association.

The new house is located in MP Sepang vicinity and one of my neighbor house is undergo massive renovation and most of the residents here commented that such renovation is definitely against the regulation set by the local authority. Few complaints has been forwarded to MP Sepang and notis saman and notis pemberhentian kerja has been issue to the said house owner.

However, house owner seems to ignore the notices but proceed with the renovation works.

Just want to check with you what can we do as the resident association and as his neighbor to make sure he is adhere to the regulation? FYI, all the house owners did sign the deed of mutual covenant during the house purchase's process.

Thanks!

Deed of mutual convenant with whom? This is landed property right? Or is it a GNG scheme?

Anyway, the RR can't do much. One way is for the neighbour who is directly affected to take legal action under tort for nuisance. An injunction can also be obtained to stop the nuisance. That may work. However, would the said neighbour want to cough up legal fees for it?

Another way is go put more pressure on MPS to take actual action against the owner. If I'm not mistaken they have the right to even destroy the illegal structures and bill the cost of same to the owner. Since things are moving slow, either ask around if any resident knows someone high up in MPS or State govt who can put some pressure on enforcement or you can complaint to our ADUN and highlight it in the media as to MPS' lackdaisical attitude. That ought to shake them up to act.

This post has been edited by dariofoo: Jul 28 2012, 01:43 PM