Stamp duty upon MOT/DOA in SPA processing?

1. Best if you ask the bankers in the appropriate thread.
2. Yes. 0.5% of loan sum - less another 20% from that sum if Islamic loan.
3. Yes, unless you're purchasing by way of cash.
4. It is easier is is always recommended. No questions on discounts are allowed in this thread. Please adher to the rules and regulations of this thread at page 1.
5. You can use the calculator at the first page to check the professional fees. Add in 6%. For disbursements there are many samples and comments by me in v1 of this thread. Do take a look there.

LAWYER'S CORNER WILL BE TAKING A BREAK

Will be off for an outstation trip and will be back tmr evening (Wednesday, 29th). Do post your questions here if it is not urgent and you can wait for a reply. If it is urgent, do post it in the open forum itself.



This post has been edited by dariofoo: Aug 28 2012, 11:29 AM

Consent from land office should be easily obtained right? Just have to wait long?

hi there, can you please help me with my problem..its like this, my father is a guarantor for my uncle business loan..Then my uncle fail to pay bek his loan, so he has been declared under bankruptcy...my father then gone into trouble as well as he couldn't pay back the debt and was announced bankrupt also....our house got seized and he's unable to transfer the property, but we were still allowed to stay in our home as the house is still under loan repayment period before this...until today, my father had settled off his housing loan, but during the loan repayment period, he has used up the house as an overdraft...which means that, although he had settled off his initial housing loan, but he hasn't paid back the overdraft amount yet...so under this situation, is there possibilites that our house will be taken for auction eventhough we're just the guarantor, not the borrower???? please help me

This post has been edited by barium: Aug 28 2012, 09:50 PM

Recently I have sign an option to purchase an apartment in Johor Bahru. The apartment was advertised on iproperty.com.my by the estate agent and I have called the agent and subsequently view the place. After negotiating the price with the vendor ( via the agent ; since the agent never reveal the owner's contact particular/name) the offer was accepted. However during the signing of the option letter, which bears the agent's company letter head, the agent ask me to sign another letter, which also bears the estate company letter head. However this letter is actually a letter to give the agent commission of 1%. Since the agent said it comes along with the offer letter and I have to sign it and give 1% commission, so I signed, thinking that that was required and was acknowledged by the estate company since it carried the company's letter head.
However later I realised after reading through the Internet that only the vendor is suppose to pay the agent commission and not the buyer. I felt cheated and conned.  I also got to know that the agent also charges the seller 2% commission. I would like to clarify with you on this matter. With the given scenario above, is it true that the agent has misconducted and cheated on me?
And if it's true, can I lodge an official complaint to the board of valuer, appraiser and estate agents of malaysia as well as making a police report indicating that the agent has committed fraud and conned on me?

Any legal implication on me since I have already sign the commission document? Although it clearly stated in the rules n regulation of the MIEA that a registered estate agent shall not accept fees from more that one client in any one transaction. And I have no prior knowledge bout this and being conned into signing the document ?

Many thanks for your answer and my sincere apologies on the question on discount. Will not repeat this mistake.

hi guys,

i would just like to ask some opinions from experienced property buyers here.

i recently bought a condo in damansara perdana and the bank loan has gone through. just waiting for the application to LPHS to be completed.

however, the home address stated in my SPA is different from the actual unit. i asked my lawyer about this and he said its because the first owner made a mistake and they issued a letter stating that the property is the same.

has anyone came across such a situation before? and would this cause problems in the future?

pls advise

thanks!

SPA would normally provide 6 + 3, but consent can be obtained well within that time period, if no glitch.

A guarantor represents to the creditor that he is liable in the alternative against the borrower. The creditor has the right to go against the guarantor as well as the borrower. The remedy to the guarantor is to sue the borrower to claim for reimbursement of the sums paid to the creditor on behalf of the borrower by the guarantor.

If you can prove that the agent has already collected 2% from the vendor, then you can first file a complaint to the real estate agency and demand for a refund of your 1%. If that fails, only then do you file an official complaint against both the agent and his agency.

If there is a supplementary letter to address the error, and previous transactions involving the property has been successful, notwithstanding the error, there should not be a problem.

Hi Dario,

thanks so much for your valuable insight...

with regards to your post #490 on http://forum.lowyat.net/topic/1602849/+480

im about to sell my property and figured out i need to pay rm4000 in rpgt and purchaser's lawyer says that they will need to hold 2%(rm2000) for rpgt purposes.. but i'm intending to submit the chkt 1a myself.

Q1: is it the norm for them to hold? even if i'm doing the submission myself?

Q2: if i were to submit chkt 1a myself, do i need to pay at submission and how much? will lhdn require me to pay rm4000 or rm2000?

Q3: side question, are chkt submission fees charged by the law firm considered as an allowable expenditure for rpgt purpose?

thanks in advance,
Dave

thanks for your reply! yes i do have a letter stating that this was an error from the previous buyer. i was just afraid if i wanted to sell it in the future whether this would be a problem. =(

thanks!

1. Yes, as LHDN imposes the duty upon the purchaser to hold 2% and pay it in advance on your behalf.
2. No need to pay anything as it will be paid by the purchaser as above. You just need to submit in the form as well as all your receipts for the deductions.
3. Yes, it will fall under legal fees incurred at time of disposal.

Thanks dario! Will do just tat.

Hi, Dario & frens,

1) In some landed g&g development, thier SPA signed under Stata Title Act. Can strata title also apply on single storey landed homes/ bungalow?

2) Can SPA under HDA (both schedule G & H) be change by the developer? If it happen, can we challenge the developer & SPA lawyer? Which channel is the best way?

Please advice.

Thanks.
sk

Hi Dario,

I am going to collect the key for my new apartment on Dec. But I will be temporary travel abroad for 6 months start on this OCT. Do I need to inform the developer regarding this matter or what should I do?

Hope to hear from you soon.

Thanks!

Regards,
Felix

Hi Dario and all sifu,

1) Is the ownership transfer (cukai pintu, cukai tanah, TNB, Syabas) done by SPA lawyer or buyer?

2) Is the 50% discount on SPA stamp duty applicable on service apartment which is on the commercial land?

Thanks in advance

thanks Dario! really appreciate it!

1. Yes it can if the developer had applied for the project to be a gng concept under a master title.
2. Appoint your own S&P lawyer, of course.