You mean stamping of the SPA? Or do you mean legal fees?

Stamping is paid by purchaser. Each party bears own legal fees.

Yes he has moved out and chances of meeting him are slim. I will go by the courier route. MAny thanks for the advise, the advise you are providing here for free, helping people is really something not many would do. God bless you and all the best to you.

I can't find it in the website,.

Can u please paste the link here ?

Make sure you get the acknowledgement slip from the courier later.

After that when you make the necessary deductions and payments, record it in writing and send it to him (with photocopy of all receipts included). This is to protect yourself later, in the event he gets some idea to hit back at you. Spend a bit now, but avoid more headache later.

Good luck

Here's another link where you can get all the forms:

http://www.selangorbar.org/content_dtl.php?id=14886

Legal fees for the SPA. So the lawyer who gets the SPA ready get payment from both party?

For buyer portion, is it CKHT 2A ?

Hi

Recently i just bought 1 apartment unit and signed s&p last 2 week (22/12/11), the lawyer's firm staff told me that i entitle to get 50% on S&P even though i'm holding 1 house that bought on 2009.

Just want to clarify the 50% S&p discount is it can apply for my case?

Thanks.

Purchaser has to pay full scaled legal fees to his lawyer as the purchaser would definitely need to appoint his own lawyer.

As for seller, 2 options:

1) Appoint another lawyer to act on seller's behalf - seller has to pay full scaled legal fees to the lawyer. Lawyer would vet the draft SPA prepared by the purchaser's lawyer and would also follow up with redemption of seller's loan, preparation of discharge of charge/deed of RnR, application for consent (if applicable) and filing of CKHT Forms.

2) Do not appoint own lawyer but authorise purchaser's lawyer to assist with redemption of seller's loan, preparation of discharge of charge/deed of RnR, application for consent (if applicable) and filing of CKHT Forms. Seller does not pay full scaled fees but is fixed on the assistance rendered by the purchaser's lawyer, eg applic for consent is RM300, discharge of charge is RM300, plus some disbursements would be payable too.

For option 2, seller is deemed to be unrepresented. You need to check the draft SPA yourself. The purchaser's lawyer does not have the duty to explain to you the contents nor act in your best interest. If there is a delay on your part, for example delay in your bank to issue the redemption statement , the completion date would be extended in favour of the purchaser.

Yes

Are you referring to the 50% rebate on stamp duty upon instrument of transfer for properties below RM350,000.00? If so, you do not qualify as the current purchase is not your first house purchase.

1st time purchase for >rm350k can get 50% discount for stamp duty?

if we buy new house we should paid legal fees for bank's lawyer too?

Yup, Its 50% rebate on stamp duty. But i already paid for lawyer fees which already minus 50% on stamp duty.

So, what should i do for next?

Thx for your kind advise.

Not more than RM350K. There are guidelines.

Check out this topic for more info:

http://forum.lowyat.net/index.php?showtopic=1748580&hl=

New house as in purchase from developer?

Well, it depends if the legal fees for the bank's lawyer is included in the package or otherwise. Some developers just absorb the legal fees for SPA, but not for loan. Some absorb both. So do check with the developer.

If you have purchased another residential property you do not qualify for the rebate. I'm sure you would have affirmed a Statutory Declaration to say that you fall within the guidelines as stipulated by LHDN. If you haven't you would be called up soon to do so, as the SD is required when applying for the rebate.

For the guidelines, you can refer to the following link:

http://forum.lowyat.net/index.php?showtopic=1748580&hl=

Do remember that affirming a false SD is a criminal offence. So do check with the lawyer (not with the clerk or staff) as to whether you qualify or otherwise.

Hi,

I'm in a little bit of conundrum. I'm a first time house buyer, so I don't have a lot of experience. Would appreciate it if someone could advise me.

The seller of the sub sale property that I am buying is still transferring the title to his name (the co owner passed away). I've already been waiting for about 3 months for this. The thing is I've already signed the SNP (pending the title name change) and paid the 10% about a month or two ago. Since it is taking too long, I'm starting to have doubts about the seller. Can I back out of this deal now without losing anything? I really want to buy the property, but it is taking too long. Or is there any way to force the seller to hasten the process? Since he already has the 10%, it would benefit him more to delay the process.

Please advise.

You need to abide by the terms of the SPA which both parties have signed. Look at the time given to the vendor to comply with the transfer of ownership of the other half-share. 6 months? 9? Until then, you can't fault him at all. You ought to be aware when you're buying this particular property that it is not the run-of-the-mill transaction and that it may be delayed. So, do be patient.

With regard to your statement that the owner has 10% and thus, it would benefit him more to delay the process - that is an incorrect statement. The longer the delay, the more detrimental it is to the vendor as the price of the property may appreciate, and he can't do anything about it. Add in inflation and you'll see that the vendor has no reason to delay things. He would definitely want to use the balance 90% for other matters as well.

If you're confused about the whole process then it's time to speak your lawyer directly and find out the latest status and also the flow of proceedings. Some enlightenment would be useful, as you're a first time buyer. Good luck.

Thanks dariofoo.

It seems like in the SNP, there is no stipulated time given to the vendor to transfer the ownership, this worries me. There is however a 6 months period for the vendor to transfer the title to my name, after he successfully transfer the title to his name. The property is a leasehold condo with strata title, do you know the maximum time it would normally take for someone to transfer a property to his name?

I've been speaking to my lawyer, but he seems to be not that well versed with these things. So that is why I'm asking here. Thanks.