If not yet available then it would still be referred to as Master Title. If not yet transferred then the title itself is in the name of the developer. In both cases, it is justifiable for it to be kept by the developer. If title is out, the developer has to surrender the original to the Purchaser's bank. That would be in line with an undertaking which they would have given to the purchaser's bank before the loan sum was disbursed to them.

Seems like vendor does not even want to give a photostat copy to him.

This post has been edited by dariofoo: Feb 29 2012, 11:10 PM

Of course, but I doubt if the vendor would agree to it, as it is something which is out of the vendor's hands. The original documents would be in the possession of the vendor's financier. They would have to dig it out and hand it over. I have never seen such a term in any SPA so far. Nothing can stop the parties from putting in any term as they wish, provided both agree to such terms AND such terms are not contrary to law.

So he pays you rent, although you have not paid the full purchase price to him?

ic
but that 6k is phase one...for high court stuff only
its not a total package...he say this is the fee just for phase one
phase 2..transfer is another fee
i wrote down everything in another thread...the last post
http://forum.lowyat.net/index.php?showtopic=2246732&hl=

so i think overall...might be 10k just to transfer ownership only...and its just a small apartment

I just want my land back...the money is second problem... because now they still do business in my land....

What the step to take back my land?

If i sue him i must pay the lawyer first... so better i get my land is enough...

i guess my mistake on overlook for your reply on another forumer's question..

actually the unit i am purchasing are freehold.. i suppose that does not require any consent then...
cheers & thanks

No Sifu Dario, they ask if i can rent the unit to them after they hv handed over the keys to me.

That's y they keep dragging...

Can the Bar Council do something on this? Like monitor them?

I'll explain again. Now you have allowed the wife to do business on the land in exchange for monthly rental. She has yet to default on the rental right? Is there an agreement between the both of you?

If yes, then you are bound by it. Look and see if there are terms pertaining to termination. Perhaps can be terminated with notice. Perhaps not. Check and see.

If not, then it is merely a monthly tenancy and you can terminate it by giving her one month's notice in writing. After one month, if she refuses, then you need to appoint a lawyer to get a court order to evict them from the premises.

I see. BC would not interfere in this. If you feel that the lawyer has been dragging their feet and not protecting your interest, the only way is to lodge a formal complaint with the ASDB. Link at first page of thread. Before that it would be better for you to raise your issues in a letter addressed to the SPA lawyer and sent by hand to their office with an acknowledgement that they received it. Give them 48 hours to provide you with an explanation as to the delay, etc. Put in all your complaints there and back it up with e-mails or what was said in phone conversations. State that if they fail to reply, you will lodge a complaint with ASDB. That ought to shake them up. Then you see how it goes.

Just get another quotation from another law firm. It's a free world and I'm sure there's many other lawyers in your town/city. Am sure you can get one who can do the work for much less (since your priority is low legal fees). You can keep on going until you find a lawyer who can match your budget.

Good luck.

This post has been edited by dariofoo: Mar 1 2012, 10:49 AM

Hi there, im not sure this is the correct thread to ask this question.

Is bout a under-con(+-70% built) property that i'd bought (loan approved, now waiting to sign SPA), i got another quotation from another law firm, is much cheaper then developer's law firm quotation, developer said is ok to use our own law firm but she wan me to bare in mind that the bank drawndown period is only 21 working days after sign SPA, which she worry that if two law firm working on the submission of relevant documents might lengthen the period.

My concern is, what i know (from banker & fren who work in law firm) said that 21 working days ain't enough for the bank to start giving money to the developer, normally are 3 months (?) but the developer side replied me said that 3 months is for completed property and under-con is only 21 working days for bank drawndown.

If i use their panel lawyer, 21 days still is a very tide period and if over 21 days, developer gonna penalty me anyway either use my own or their lawyer.

But the developer said their SPA stated 21 working days (approx. 1 month) already, thats the facts. If it so, what else can i do? is it really only 21 working days for under-con property? or just this developer? is the drawndown period set by developer them self?

Most appreciate, sorry for the long questions coz first time buying property.

Lucas

This post has been edited by hianboy: Mar 1 2012, 12:40 PM

is there any good to purchaser if seller wants to use purchaser lawyer for SPA?

21 working days is quite standard. It is more than enough time for the bank to issue drawdown. If your loan is approved before signing the SPA itself then there is nothing to worry. There are folks who do not want to use the developer's panel lawyer and insist on being represented by their own law firm, just to get the peace of mind.

That's a good observation.

This post has been edited by dariofoo: Mar 1 2012, 02:20 PM

Better, actually! More faster and eliminates one paper trail.

Much appreciate for your prompt replies dariofoo~

Just back from signing OL with the banker.

Will wait them to arrange sign the SPA and Loan Agreement.

Most appreciate.


Lucas

can't do..its done
that fee that i just typed out...is what hes charging us
my only question he...is he charging us right?...doing the right procedure or not
just want to know...lawyers will charge u 1 go or like my case...got different phase...different phase, different fees

Ok tqvm Sifu Dario. I think i will engage another lawyer to draft the letter for me or issue the letter on behalf of me.

Thanks again~

Hi Dariofoo

I have read through most of your post and you seems to be a knowledgeable lawyer. Thanks for helping layman like us.

I would like to seek your advise pertaining to the following quotation I received. Reasonable and should I accept it?

Deed of Receipt & Reassignment (DRR) RM 400-00
CHKT (2 persons) RM 600-00
S/D – Letter of Undertaking RM 100-00
-----------------
RM1,100-00
Add: Service Tax RM 66-00
-----------------
RM1,166-00
Add: Disbursements:-
Land Searches RM 100-00
Bankruptcy Searches RM 60-00
Winding Up Searches RM 60-00
Stamp Duty on DRR RM 40-00
Confirmation of Developer RM 50-00
Revocation of PA RM 75-00
Transport & Travelling RM 250-00
Photocopy, printing, postage etc RM 100-00
Telephone, fax, courier and other charges RM 100-00
Miscellaneous and other incidentals charges RM 50-00
------------------
RM 885-00
-----------------
RM2,051-00
==========

Hi Dario,

I just in process to purchase a double storey house in Klang.
I already signed Letter of Offer and Acceptance prepared by property agent, and owner had also signed the form.
I had paid 3%(RM9840) as earnest deposit for confirmation buying this house.
I had ask agent to write a statement in SPECIAL EXPRESS CONDITION in the column of the form.
It stated that, "The owner is not allowed to cancel the deal after signing this Letter of Offer and Acceptance. If it is so happens, the owner will pay a double deposit compensation to the buyer."

After 1 week, the owner wanna cancel the deal due to his personal problem.
He agree to pay me double(RM9840 X 2) as he want to cancel the deal.

There is a clause stated in the form, "In the event the transaction is cancelled/aborted by vendor/purchaser before the S&P is executed for any reason whatever, Richland properties shall be entitle to 50% of the earnest deposit as their agency fee together with 6% Service Tax.

Problem start here.....

1) the owner(vendor) does not want to compensate as written cleary in Letter of Offer & Acceptance.
What should i do? Did i need to engage lawyer by myself for this case? or the agent need to engage lawyer for me?

2) Percentage of winning?

3) Normally what is the standard procedure for this case?

4) What is the time frame for the owner to fully paid the compensation to me?


Really need your proffesional consultation on this matter!!
Hope to hear from you soon.

Regards,
Mr. Chien