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 Lawyer's Corner v2, One-stop centre for any legal queries

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TSdariofoo
post May 2 2012, 10:47 AM

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QUOTE(tiger3555 @ Apr 27 2012, 07:57 PM)
doh.gif just check completion date:"The date when the final balance purchase price together with any late payment interest (if any) is paid under clause shall be known as “the Completion Date”.  doh.gif , dario,3 days VP already passed, my lawyer already talk to owner seem like he still argue with my lawyer regarding the LPI....any way to solve it?
*
No choice but to instruct your lawyer to issue a letter of demand to him to surrender VP to you.
TSdariofoo
post May 2 2012, 10:51 AM

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QUOTE(thistle @ Apr 28 2012, 06:34 PM)
I need advice on responding to a threat of taking "legal action" against me made by a real estate agent on Facebook.

*
It's an empty threat which is baseless and has no merit. It's an open forum and anyone is entitled to give opinions and information. Misrepresentation does not arise in this case. Neither does defamation as you have not defamed her in any way. I would not worry about it. icon_rolleyes.gif
TSdariofoo
post May 2 2012, 11:01 AM

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QUOTE(ahmadpintu @ Apr 29 2012, 09:17 PM)
Hi dariofoo,

I bought a house in 2010. the house should be handed over to me on March 2012, but progress is now only 60%. The s&p signed on march 2010. Currently did not paid anything to bank cause no progress claim from the developer.
Today i got a call from bank said that i need to top up additional rm1400 for the insurans. And if i not pay, they will not release the payment to the developer. This is their 1st claim.
Should i pay the additional amount? Can i claim to developer via tribunal later?

Tq
*
This 'insurans' payment is between you and the bank. Nothing to do with developer. You can only claim agreed liquidated damages from the developer, the calculation of which will be in your SPA. You can't claim this payment from them. icon_rolleyes.gif
TSdariofoo
post May 2 2012, 11:11 AM

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QUOTE(it.fusion @ Apr 30 2012, 01:28 PM)
dariofoo... its going to be 3 months since SPA had been signed... but till now my SPA lawyer are just telling that title are still pending from vendor's bank.. one more month and it would be 4th month...i already ask lawyer to push/chase the bank.. but till now no news....what will happen if the bank failed to deliver the title then? my bank are ready to pay.. but title still with vendor's bank...
*
Completion date is extended in your favour.
TSdariofoo
post May 2 2012, 11:11 AM

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QUOTE(Ninjitsu @ Apr 30 2012, 01:51 PM)
For it.fusion case, can his lawyer get a VP for him to move in pending delivery of title?
*
Subject to agreement of the vendor, of course.
TSdariofoo
post May 2 2012, 11:12 AM

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QUOTE(nagflar @ May 2 2012, 10:53 AM)
hi all

i want to ask if i selling my house ( purchase less than 5 years ) will kena GOV tax ?

is that true ? if yes how many % GOV tax ?

thx
*
If within:

1-2 yrs - 10%
3-5 yrs - 5%
TSdariofoo
post May 2 2012, 12:53 PM

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QUOTE(nagflar @ May 2 2012, 12:00 PM)
5/10% form Selling price now ?

or 5/10% from the price i buy few year ago ?

thx
*
Gross gain is Purchase Price (when you bought) less Selling Price (current selling price). However, what is calculated is nett gain.

Thus, it is 10% or 5% of your nett gain, not from the price of the property at either time.

So, whatever costs/expenses which you spent on the property, like legal fees , renovation and upkeep costs, agent fees, can be deducted.

You can download a copy of Form CKHT 1A from the net to see what the allowable deductions are.

There's a detailed sample and calculation in v1 of this thread which may be useful to you.

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This post has been edited by dariofoo: May 2 2012, 12:55 PM
TSdariofoo
post May 2 2012, 05:17 PM

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QUOTE(thistle @ May 2 2012, 02:44 PM)
How do I defend myself without making matters worse? She is painting me to be the bad guy. It's very unprofessional for her the so-called registered real-estate agent who provides misleading information and threatening to take legal action on people who give out the real facts.
*
Why are you worried if you know that you are on the right side? All you need to do is to report what is right. That's it. Let others read and judge for themselves. She has made an empty baseless threat against you. Why aggravate things further by replying to her? Do you think she will let you have the last word anyway? Of course it will go on and on and then, everyone will assume that you have a hidden and personal agenda against that particular agent, hence your act of posting in her thread/wall.

I'd advise you to just let it be.


QUOTE(thistle @ May 2 2012, 02:44 PM)
She thinks she has lost a few potential tenants due to the contract terms explained.
*
Mission accomplished for you then. cheers.gif

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TSdariofoo
post May 3 2012, 11:46 AM

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QUOTE(nagflar @ May 3 2012, 10:05 AM)
Thanks for the detail reply.

one last question , My hire purchase date is on MAR 2007 . loan with bank date is JAN 2008.

so the 5 years GOV tax start form the hire purchase date ? am i right ?

thanks
*
Hire purchase? You mean Sale & Purchase ? Yes it is from the date of the S&P agreement.
TSdariofoo
post May 4 2012, 01:13 PM

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QUOTE(sani_2020 @ May 3 2012, 07:19 PM)
dear sifus,

i'm new in property here

i'm thinking of buying a low cost flat in wangsa maju (not so low cost since now the price is more than 100k). i have a few questions here:
1. is it true that the stamp duty is free for low cost flat?
2. if i buy this flat, is it true that i cannot buy another low cost flat within 25km radius?

many thanks all.
*
1. Not true. However, if it is your first purchase and the price is below RM350,000.00 - you are entitled to 50% off stamp duty for MOT/DOA and primary loan documentation.
2. Check with your local authority as they may have their own guidelines on this.
TSdariofoo
post May 4 2012, 10:38 PM

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QUOTE(michaelsb @ May 4 2012, 07:45 PM)
hi guys, i intend to buy a new house. but i tied with 2 loans currently and one of loan is a joint borrower with my family. hence, i decide to transfer that loan to my family so that i can buy a new house with 90% loan capacity instead of 70% controlled by government. so, what is the best way to do this and any legal feel incurred for this transfer of loan borrower?thanks.
*
You would need to refinance that loan. Legal fees would be for the loan documentation which would be borne by the new borrower. It is scaled according to the loan sum. Best to approach a banker for further info on the application process.

Added on May 4, 2012, 10:39 pm
QUOTE(echoesian @ May 4 2012, 08:02 PM)
The offer letter stated the legal fee is financed into the loan. Can I know is it possible to nego with the lawyer to get some refund back?
*
The rules of this thread are very clear in the first page of this thread - no questions on discounts are allowed here. Please ask in the open forum.

Added on May 4, 2012, 10:48 pm
QUOTE(andylim7 @ May 4 2012, 09:51 PM)
Is there a way to by passed the developer to get the state consent transfer letter?
Please HELP!!
*
You mean that individual title is out but it is still under the developer's name?

Have u tried obtaining a copy from the land office? They ought to keep proper records. Another way is to trigger a transfer to a third party. In such case the dev has to give an undertaking to do a transfer of the title, either to ur dad or direct transfer to the third party. If they refuse, your dad has the right to sue them for breach of contract. Fraud, even. The dev has a fiduciary duty to effect the transfer. Seek legal advice from a lawyer and proceed further.

This post has been edited by dariofoo: May 4 2012, 10:48 PM
TSdariofoo
post May 7 2012, 11:10 AM

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QUOTE(AridEyes @ May 6 2012, 12:24 AM)
dear sifus,

I'm purchasing my first house... pretty new at this, so need some help. i have a few questions:

1. I've signed snp with vendor, but there was some problem getting consent. I've already paid the 10% dp. at that time when viewing the house, the condition of the house was good, only 1 person staying there. however, since its been almost 8 months since that period, the landlord decided to rent it out to bunch of african students. what can i do about this? I'm afraid the condition of the house will get bad.. since many people staying there. Also i have a feeling the vender purposely stalling this deal.

2. I think the lawyer that i hire is not doing his job well. lately, he's been avoiding my calls. its been 6/7  months since i signed snp but i don't have anything other than the papers (snp), I've lost around 40k (dp + lawyer fees... which i already paid in full... ). I know its a mistake to pay in full, but I'm still new at this, so its a lesson for me. every time if i can call him, he say nothing he can do, since its the land office that is slow. any advice on this? I'm actually thinking of changing lawyer.. but I've already paid him full amount. i don't know what to do...

sorry for long post, but I'm having so much trouble purchasing this property. i dunno how many months more i have to wait. now I'm renting a place, but this money should have been used to pay the house monthly installment.

appreciate all the help. Thanks!
*
1. You can still inspect the house before accepting the keys , but note what is stated in your SPA. Normally, ''fair wear and tear' is accepted. If there are serious defects, then the vendor has to rectify it. Of course, this is only applicable if it is stated in your SPA,so do check.

2. It is normal for fees to be paid in full upfront. Does the vendor have his own lawyer? Consent is for the vendor to obtain, not the purchaser. So, if there is a lawyer for the vendor, then the delay is coming from there, not your lawyer. If your lawyer is the one who is handling the consent, then ask for correspondence to show that he has indeed put in the application and if he has followed up from time to time with reminders to the land office.
TSdariofoo
post May 7 2012, 11:14 AM

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QUOTE(yehlai @ May 6 2012, 09:23 PM)
Hi  Dario, im in the process of buying a subsale unit. Vendor verbally agree to sale the house to me (no deposit given and no agreement signed), my loan is also approved. 2 weeks ago my lawyer have collect all the documents required to prepare a draft and send to vendor's lawyer, but until now there is still no reply from vendor's lawyer.

Im still waiting to sign the S&P.

Is it normal to take this long? Should i contact with the vendor to speed up the process ?
*
2 weeks is not a long delay. You should not contact the vendor directly as both parties are represented by solicitors, so let them sort it out. Probably the vendor's lawyers could be waiting for some documents from the vendor's side as well.

NOTE: Next time, put in an earnest deposit and get something in writing.

As it stands, this verbal agreement with no exchange of consideration is not a binding contract. However, since he has appointed a lawyer, I suppose his intent is to proceed with the sale.

A promise to sell without any consideration moving from the other side to the promisor is not a contract and is thus enforceable. Even if you give him RM1 and he accepts it as deposit, then there is a binding contract.

There are exceptions to the above rule but I doubt if it applies in your case.
TSdariofoo
post May 7 2012, 11:16 AM

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QUOTE(exkaizen @ May 7 2012, 09:32 AM)
Hi Dariofoo,

I'm buying a new house at Rawang.

The Developer asked me to sign a cover letter/S&P at the developer show house. He's mentioned the S&P that I'll be signed is standard S&P from Home Ministry. He asked me to signed first since the S&P from lawyer will take sometime and I won't require to sign again once the lawyer has the S&P.

Is it ok for me to sign the S&P? or request only sign S&P from the lawyer?

thanks.
*
What document is this? Cover letter? S&P? How can it be an S&P if it is not the official one from the lawyer.

Or is it a signing page ? hmm.gif

TSdariofoo
post May 7 2012, 11:30 AM

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QUOTE(exkaizen @ May 7 2012, 11:20 AM)
maybe what the developer means is the signing page?
if signing page.... still safe to sign? or better wait for official one...
sorry since this my first house purchase...
*
The prudent way to do it is to sign the whole SPA and initial on every page. nod.gif
TSdariofoo
post May 7 2012, 11:33 AM

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QUOTE(k3v1n @ May 7 2012, 11:27 AM)
Hi Dario, since the bank has released first payment for my apartment, now I have to pay the interest, I wanna ask you that this interest that I pay got deduct from the house loan? Or this interest I pay for nothing? Thanks
*
Sorry mate I'm not 100% sure on this so I'll refrain from giving an answer. Perhaps your banker can advise you more on this.
TSdariofoo
post May 7 2012, 05:08 PM

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Ltash:
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First things first, you should not address your solicitor as Lousy. Even if you think they have not performed up to your expectations, you ought to refrain from doing so. Two wrongs does not make a right.

Why is interest calculated up to 3 May only, if the cheque for the balance purchase price is not out yet? Should it not be calculated from the day the cheque is presented to the vendor? Or has the vendor agreed to cap it at 3 May?

Anyway, since you have both sides of lawyers who are playing the blame game with each other, the only sure way to find out and locate the source of the delay (or sources - both sides may be guilty), you would need to request for a copy of all the correspondence between all the parties from the date of execution of your loan documents, i.e. from the date your loan lawyer came on board.

1.Request it from the loan lawyer and your SPA lawyer
2. Do it in writing and use separate letters to each of them. Don't let them find out that you're requesting from the other party as well.

3. In your letter, you must state your dissatisfaction with the delay.
4. Put on record all the teleconversations and smses sent/received to the lawyers and what was spoken in the said teleconversations.

5. Give them 7 days to provide you with the correspondence, and state that if they fail to do so, you will report them to the Advocate & Solicitors Disciplinary Board [see page 1 for the link to their site and to get more info].

6. Serve the letter by hand at their office and get an acknowledgement with their official stamp and date of receipt.

7. Wait for the documents.

8. Study the documents and locate the delay. See how many days lapse between letters.

9. If you think that there is a party who is negligent, you would need to appoint a lawyer of your own to demand that the law firm in charge be responsible for the late penalty interest (or even both firms).

10. Alternatively, you can directly file a complaint and lodge it with the ASDB as stated above. However, I would advise you to appoint a lawyer to do so as that lawyer would be in a better position to articulate the complaint in a proper and organised way.

* You would need to seek a lawyer who not only does litigation, but who has experience in ASDB matters. Not all litigation-based law firms do these cases.

Good luck

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TSdariofoo
post May 7 2012, 05:11 PM

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QUOTE(it.fusion @ May 7 2012, 04:49 PM)
how long the date can be extended ? 1 month ? 3 month or 6 month ?
since the SPA lawyer just keep silence on this.. i call her up every week and she saying the same thing.. pending bank.. i ask her to chase.. she said already..
just wondering if i got the wrong SPA lawyer for my first house purchase  sad.gif
*
It is extended according to the number of days of delay from the vendor.

If pending bank, you can also call your banker and ask for his assistance to chase it too. icon_rolleyes.gif
TSdariofoo
post May 7 2012, 05:15 PM

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QUOTE(Ltash @ May 7 2012, 05:12 PM)
Thanks Dariofoo.

about how much will it cost for a lawyer to help me in this case?
*
Fees for litigation matters are not fixed.

Lawyers are like cars - you want a Ferrari, Beemer, Honda or Proton? You get what you pay for (more often than not sweat.gif )

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TSdariofoo
post May 7 2012, 05:27 PM

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QUOTE(Ltash @ May 7 2012, 05:16 PM)
the cheque was written to the lawyers name . . so they had to bank in the cheque, and issue another cheque on the vendors name.

So they stop calculating the interest from the date they received the cheque..
*
Oh ok. I get it. Yes normally it is done that way. nod.gif
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