Hi Dariofoo,
he pays the other half, i pay the other half
thank you very much for your advise.

Dario boss

for loan docs relating to the purchase of a l/h prop under construction is

i) is it necessary for a caveat to be lodged by me (purchaser)?
ii) what is "registration fee for PA/SOD"?
iii) title search ?
iv) winding search?
v) bankruptcy search?

have another query - if there is a discrepancy in S&P and Deed of Mutual covenants with regards to facilities to be provided in a strata
development, which of this 2 docs under the law will be binding?

Dear all,

I have some questions here.

I want to sell off my house about RM700,000.

However, after so long no prospect from all the agents, there is an agent able to get a buyer to buy my house at lower price than my target price which is RM570,000.

So, no choice, I agreed with the price of RM570,000 and signed the agent paper to sell off at that price. However, not yet sign S&P paper.

Then, after that, more offer coming in now. And now it seems like more buyers want my property now with higher offer.

So now, another agent able to get a buyer to buy at RM600,000.

So, if I agreed to the new buyer at RM600,000 but I already signed the previous agent's paper, any problem for me?

Any Penalty?

Is it really still can cancel the previous deal and continue with this new deal with more profit?

Please advise.

Thanks.

Hi dario, my case is like this:-

I'm selling my house to one buyer. We both using own lawyer. However, it has to go through MOT1(trustee to vendor) and MOT2(vendor to purchaser). My lawyer told me both MOT can adjudicate and stamp together. Today, i went for signing S&P(signed by purchaser). While signing i only checked on the purchase price and ic(normal standard checking). My lawyer was holding the 8% of earnest deposit. At the same time i wonder why im not given the balance of 8% of the earnest deposit. (I thought will be given after the S&P was stamped by the purchaser's solicitor)

As i reach home, i go thorugh my S&P(photostat copy) again, i found that

MOT1 will be stamped and adjudicated by vendor solicitor and
MOT2 will be stamped and adjudicated by purchaser solicitor once MOT1 stamped and adjudicated

Q1the lawyer told me will be stamped and adjudicated MOT1 and MOT2 together..why now different?

2.1.2
a sum of $$$$$$$$ paid by the purchaser to vendor's solicitor, as stakeholders, upon the execution of this agreement (hereinafter referred to as "the Balance of Deposit"), the receipt of which the vendor's solicitor hereby acknowledges with instruction to release the same to the Vendor upon the Purchaser's solicitor receipt of the duly executed, adjudicated and stamped MOT1.

Q2the statement above refer to, i will be having my 8% upon MOT1(stamped and adjudicated) received by purchaser's solicitor, am i right?

Q3by right, this 8% shud be given to my upon S&P signing. Is my lawyer protecting me?

and

the remaining if the balance of 90% of the purchase price will be paid to the vendor solicitor, as stakeholders, within THREE MONTHS from the date the Purchaser's solicitor recipt of a copy of the Memorandum of Transfer duly executed by the trustee in favour of the Vendor (MOT1) adjudicated and stamped (hereinafter to as completion period). The actual date the balance purchase is paid to the vendor solicitor within the completion period is hereinafter referred to as "the completion date"

Q4Why is the three month start counting on the date of MOT1 adjudicated? Normally is count from the date S&P stamped. My lawyer wan to makan my fixed deposit?

this is killing me. pls advise

Are bank loan legal fees for Islamic loan higher than Conventional loan?

Hi Dario,

I'm a first time home buyer. I have already signed the SPA, Loan Agreement, etc.

I discovered this week from my loan lawyer that my loan process is stuck as the bank (Public Bank) has to delay the remaining 90% balance release. The reason given was that the landowner has given the Power of Attorney to the developer. I'm not quite familiar with the terms here. However, I understand that this is an unusual process and they will have to check this matter with the High Court.

My worry is that this will result in a delay in the payment release to the seller and violate the SPA. This is a freehold condo unit. The terms were 90 days + 30 days (with 8% p.a. interest). Worse still, if the process drags on longer, I'm worried that the sale may be revoked altogether. I am confused - since I have done nothing wrong, will I be liable to pay all these fees and charges?

As far as I know all the required documents have been submitted in late September. I discovered that the loan lawyer had actually received the documents and that my case lawyer had found out about the Power of Attorney situation back in mid-October. However as my case lawyer has resigned, I believe that due to an inefficient handover process to her colleague, the situation was not followed up appropriately. In fact, I was told that it was only picked up in mid-November.

My question is how long does it normally take for the proceedings to be processed? If there are any delays resulting in my incurring of financial losses, who should be liable for it? It appears to me that the loan lawyer's mishandling of time-sensitive documents has directly caused my current predicament. What is your advise on the next cause of action?

Thanks,
Seeker1

If my family transfer a property to my name, do i still need to pay stamp duty & legal fees?

1. When i'm a chinese buy a bumi quota leasehold apartment unit, do i need to get approval from menteri besar?
2. Or under what circumstance i need the approval of menteri besar?
3. Where can i check from any document that if i require the Menteri Besar approval?

Hi Dario,

can i know how long lawyer will instruct bank once i sign the security document from lawyer? Due to facing long holiday on this week the lawyer site was closed so they will only prepare the document on next week. i had receive letter from bank the due date is end of this month,so do i have to write a letter for my bank to postpone due to lawyer have delay it? i just worry lawyer site will instruct the bank late.

Hi Dario,

I've bought a new condo under construction at the moment. Up to this point I've signed the SnP and loan agreement. Can I appoint another lawyer to handle my MOT in the future when the individual title is ready?

Dear Dario,

I will selling my house soon. May i know if i use back buyer lawyer what good & bad to me????