usually for a normal sale of a house, how long does that IRB to process the CKHT to see whether how much to tax or to refund the seller?
Do we need to go to IRB to check from time to time?

Hard to tell as the efficiency differs from branch to branch. Fastest I've encountered is 6 months while the longest took around 1 year after much pestering. You must understand that they have a lot of files to process, hence the delay.

If you have a lawyer your lawyer should follow up from time to time.

haha.. okay thanks ... between 6months to 12 months then..
i asked my lawyer many times .. she always says 'I dont know .. go ask the IRB!'

Yeah you can follow up on your own as well.

Q1 My lawyer took about 2-3 months to proceed the S&P agreement draft. I'm not sure my lawyer or purchaser lawyer delaying the process. Just why can't my lawyer proceed MOT1 while wasting time there?

Q2 How long it take to proceed MOT1(trustee to vendor) and MOT2(vendor to purchaser)?

Q3 Since the S&P is signed by both parties, if the S&P stamped, is the purchaser able to apply loan without the MOT1? If is capable, then the loan will be approve within 3 months (at same time MOT1 done), this mean I get my 2% as booking fees before and receiving 98% at the same time regardless of my S&P. What's the point 8% upon MOT1 stamped and adjudicated and 90% from the date of MOT1? Make no sense right. If my lawyer is not honest, they may just told me that the balance of 90% will be received 3 month from the date of MOT1 although my lawyer received it earlier, just to to enjoy 3 months FD. Correct me if I'm wrong. Thank u

This post has been edited by Louiz: Nov 16 2012, 08:19 PM

is refer to instruction to my solicitor to prepare the security documentation for banking facilities

Hi All, please forgive me if this is the wrong section but would like to seek answers for 2 queries regarding sub sale purchases:-

1. How long do I have to pay up the stamp duty and lawyer fees?
2. Any other misc expenses that I should be aware of?

Thanks in advance

Thank you boss!

is it true that offer letter (MBSB) should be signed not later than 3 weeks? I am still waiting on the other banks though..

LAWYER'S CORNER WILL BE TAKING A BREAK

Off for an outstation trip. Will be back tomorrow evening.

All queries will be answered by Wednesday.

Thank you for your patience and sorry for the delay.

Cheers.

Dear Dario,

I recently found a sub-sale property and proceed to make the necessary booking of 3%. However, up until today (2 weeks plus), the owner still refuse to sign on the booking form. Can I take any action against the owner since he is delaying the process? Am I able to seek compensation for the time spent talking with bankers and looking for lawyer?

Thanks

Dear Dario,

In my DEED OF MUTUAL COVENANTS

5.11 Sub-sales

Purchaser shall have paid all monies, service and other charges due and payable by him under the Sale Agreement and this Deed and PROVIDED FUTHER that such transfer or assignment shall be in a form and substance acceptable to the Vendor and subject to an administration fee in the sum of Ringgit Malaysia Five Hundred (RM500.00) Only or zero point five per centum (0.5%) of the purchaser price of the said Parcel whichever shall be lower.

My question are is it this rules still available? I hear from bank officer look already change administration fee RM50 only.

Dear Dario,

Recently I have sold one property

The document signed, our agent's offer to purchases have included " sales included : club menbership'

However the sub -sales SNP ( prepared by Lawyer ) : don't mentioned anything about the "club membership".

Can I now. Not to transfer the membership to buyer? The SNP should prevail right?

I am rather not very happy with our Lawyer slow moving act and always helping buyer rather me ( seller)

I am selling the unit ( landed freehold) and using buyer lawyer.

Thank you.

This post has been edited by suat1971: Nov 20 2012, 11:41 AM

Dear Dario,

I have purchased a leasehold prop with master title and I have instructed my lawyer not to lodge a private caveat. Recently I received the bill for the legal fee and found out that they charge me for private caveat in loan agreement (total rm720). The reply I got is that I can only waive private caveat in SnP but not the loan agreement. I was informed that this is necessary for my bank to release the loan. Is this true?

dear dario lawyer, thanks for spending ur precious times to lend us useful hand.i had bought a condo in kl from a bank.as the owner of the hse is a singaporean who had owed his bank quite big amount of money.The bank didnt take the hse for auction,yet take it as normal subsale to get back the money as the singaporean hasnt bancruptcy and now doing his business in australia.In 1992, when the singaporean asked for the loan,he had signed an authorization letter, the letter signed and choped by notary public in singapore as withness, black and white to show that he had given the right to the bank to sell off his houses anytime if he is not able to pay back the debt,n this authorization letter had been validated at high court malaysia in 1992.

Initially,agent didnt tell me about this issue,agent only told me it is property of bank,hence,i decided to buy and i never expected i have to go thru all these difficulties. I signed and paid the booking fee 3% in early of march 2012. And had assigned a lawyer to run everything for me(he is my friend infact).my nightmare started since march.

The s&p only come back to us on 29th of may 2012,after 2 months+ pending at the bank (the bank is in singapore,but they assign a kl lawyer firm to run the show). Just FYI, the s&p signed by bank officer attached with authorization letter,not by the vendor himself,and i had given 4 months + 2 months to settle the loan. 10% downpayment had been paying to the lawyer of singapore bank.

I signed the bank loan offer letter in june. When we proceed for loan agreement, panel lawyer of loan bank suddenly didnt want to accept the authorization letter,as they claimed that the authorization letter should signed and choped by lawyer,not by notary public. Loan bank lawyer gave us a better option, they wish we can get the owner to sign the s&P. Therefore,the things pending all over again.

Lawyer of singapore bank promised wil settle the issue and chase for the vendor signature. I was waiting patiently at initial phase. In september.my lawyer told me,my s&p is on the way back from australia,asked me to b patient. Until october,i cant even c any pc of black n white,my lawyer claimed he had given lawyer of singapore bank a buzz,they claimed the owner was in china now for business trip,wil b back by end of october,ask me to b patient again. Until end of october,the s&p havent come back to me.i was literally agitated,i got the contact number from my lawyer, and ring the bank officer in order to talk to him personally. The outcome of the conversation literally pissed me off. The bank officer claimed they were doing ntg in singapore actually,the s&p sent to neither any party nor any country,just putting on his table. He claimed my lawyer is too much,they able to sell numerous of houses with the same authorization letter (as the singaporen owner has more than 20 houses in malaysia) except mine. He said all of the notary public in singapore are lawyer, thats mean, the person who signed the authorization letter for sure is a lawyer. He recomfirmed he will never able to get the vendor signature to put into the s&p,asked me to discuss with my lawyer and fix it up. It was so annoying as i was waiting here for couple of months, yet he was telling me he did nothing in singapore. Instantly, i felt that his lawyer was cheating me by telling me the s&p had sent to australia. Who know, the lawyer said she get cheated by bank officer also!!!


Started that day onwards,i no longer hav faith in lawyers,until i read ur forum,u r such a nice lawyer who helping us without asking any return. Then, I told my lawyer everything what had been informed by bank officer. However, my lawyer and loan bank lawyer unable to accept the excuse, as they said the authorization letter didnt have lawyer's chop but notary public chop, despite he/she is a lawyer+notary public, the letter consider invalid also. Worst come to worst, lawyer of singapore bank will do something to make sure the things done as singapore bank said they are waiting for my money. Now is in negotation period between loan panel lawyer and singapore bank lawyer.

What i m concern now is, my case had been procastinated since March because of the delay of singapore bank, who can b considered as vendor. They have been dragging my times since March until today, still havent settled yet. Somehow, if i didnt call the singapore bank, perhaps i have to wait "patiently" again n again until today. Can I ask for the compensation? They put a term 4+2 for my loan matter. Then, can I, as a purchaser protect myself with the same term?



By the way,may i know how to calculate the loan agreement legal fee as i hav a panel lawyer from bank n my own lawyer as middle person to run the show. Infact,my lawyer had told me the total amount legal fee of s&p and loan aggrement at the first place. However,i choose to take commercial loan instead of government loan at the end of the day,and the quotation he calculated for me was based on government loan,without any panel lawyer from bank. When i decided to take the commercial loan offer,i was compulsary to take a panel lawyer from the banklist,n i had seek for his advice to take his friend as panel lawyer. I did seek for his advice again for legal fee as i need to prepare sum amount of budget for legal service purpose but he hasnt told me until today .But i really wish to know,i need to pay double legal fee for 2 lawyer (my lawyer as middle person + loan bank panel lawyer)?he had done a very good job for my s&p,but i hope i no need to pay double for loan agreement, is it possible? Thousand thanks and so sorry for bothering!!

Oh ya, dario lawyer, so sorry, one more question, thankssss in advance! When i asked for temporary VP while waiting the loan to be settled, only i notice that the tenant doesnt want to move out, with the reason, he is paying the rental every month, and had been staying there for very long times, he wana stay put and not plan to move out. (as he is paying 1.5k rental, but the rental nowadays suppose b at least 2.2k) Despite lawyer of singapore bank had given him notice ( they self-proclaimed they had talked to the tenant, i am not so sure as i was not on the spot) chasing him out. Now, the lawyer of singapore bank has issued a suit notice and bring the case to the court. May i know how long its take to settle the court case?I did ask my lawyer, wil singapore bank pay me 8% penalty daily once the loan matter being settled, my lawyer told me,singapore bank wont b that stupid, most probably they will settle everything before the 8% penalty kick off. Hence, i am afraid they keep procastinating my case due to the court case havent settled yet. Crucial point here, what should i do to protect my right? I cant ask my lawyer to do anything anymore cos we hav misunderstanding in between, as he was very disgruntled i direct called the lawyer of singapore bank when he was abroad and not around for 2 weeks. I didnt mean to bypassed him, but i was waiting inpatiently and i wish to talk to everyone personally nowadays, especially wanted to inform the singapore lawyer how to get the tenant, as i have the contact number of the tenant and we met few times before, end up, the singapore bank lawyer also didnt want to talk to me, just hang the call!!!!!!!! Is it a mistake for calling the singapore bank lawyer? Anyway, the contact number of the singapore bank lawyer was given by my lawyer, but he was angry and disgruntled when i called them. Thanks lotsaaaaaaa.

This post has been edited by koohuichin: Nov 21 2012, 08:42 AM

Q1. No comment.

Q2. Depends on the efficiency of the parties, LHDN, etc.

Q3. Yes he can apply for loan even before the SPA is signed. For the letter of offer to be issued, it does not require MOT 1 to be out. Even for cases requiring consent, the bank can issue the LO.

Completion date to run from the date of MOT 1 is correct.

8% shall be paid to you upon receipt of MOT 1. Why do you say that you'll receive 98% at the same time? I think you are confused. 90% will be at the end of the completion period. 8% will be at the date of MOT1.

It is you who would be enjoying the proceeds from the FD, not your lawyer. I've informed that to you earlier.

Ok. I thought you meant a letter informing you to pay your first instalment. That is a letter of instruction and the deadline is not really strict but serves more of a guideline. Even if it is missed, it does not affect the LO.

1. Best would be at the same time as execution of the SPA.
2. You can check the many samples available in version 1 of this thread to compare and check what disbursements normally payable.

The LO should state the validity period.

Whatever rights you have would be stated in the booking form/offer to purchase. Refer to it. If you want to abort and get a refund of the deposit, that would usually be it. You cannot seek compensation for other expenses incurred unless parties had agreed to it in the booking form/offer to purchase.