Dear Dariofoo,

Hope to get your advice for my case.
I bought a apartment last year and signed the S&P December 2011. To date my banker had already released the redemption sum and awaitng some documents from the vendor (R&R). Now, 1 month passed but the vendor seems like sitting on it; no news from vendor's side.

Is there anything I can do? He is still collecting rental from the tenant of the apartment but I have to pay interest to the bank!

Hope to get your advice.

Thanks.
Neo

This post has been edited by shneo70: Mar 12 2012, 05:41 PM

Hi DarioFoo,

If I buy a subsale leasehold property which has only Mastertitle and the property now under a liquidator, is there any name transfer involved for ownership? Or do I have to wait for the strata title to be ready? Lets say if the strata can only be ready only 5 years later, do I have to engage a lawyer to help me with the ownership transfer? By then, will the name be transfered straight to me? Or do I still have to get the current owner to be present for the strata title name transfer, 5 years down the road? For strata title to be ready, who should chase and who to chase?

Any words of advise concerning liquidated leasehold properties? Subsale legal process duration wise and costs incured.

Hopefully my questions are not super rojak to understand as I myself am very

This post has been edited by PowderBug: Mar 12 2012, 09:57 PM

Just wondering normally what is the rate of lawyer fee for S&P & Bank Loan by %?

Normally how much do we save on Bank Loan lawyer fee if we use the same lawyer as the S&P? Do we save much or better to use Bank's Lawyer?

Also how do we check stamp duty fees for both S&P & Loan?

Vendor represented by lawyer? Then get your lawyer to write to them. Perhaps the original documents are still stuck with the bank. Things go missing sometimes and that is why there is a delay with the RnR.

If vendor not represented by lawyer then it most likely has to be your lawyer who has been authorised to follow up with the Deed of RnR. So check with them as to what the status is.

In all probability, the delay is from the bank who has to execute the RnR and return it together with the original docs.

That is Form CKHT 2A, which the lawyer entitled to charge RM200/pax. It is compulsory to file it.

You must also include 6% service tax, and other disbursements like searches, travelling, stamp duty on SPA, postage, courier, and other misc costs.

Best to get a quotation on them with the breakdown of fees. That is how it is commonly done. Then you can compare it with the many samples and comments in v1 of this thread.

You can refer to the calculator at the first page.

For % breakdown, you can download the SRO at the first page as well, which will enlighten you further.

Legal fees would be the same but you can ask for reduction in expenses/disbursements like travelling - which can be saved as you're using only one firm to do the running around for you.

No transfer of title involved as it is still in Master Title. So you derive your legal and beneficial ownership via a Deed of Assignment (DOA) between you and the vendor. You have to wait for the strata to be out but looking at the scenario, I doubt if that will happen as it is expensive to do so and the liquidator's job is to save money, not spend more. Perhaps if a white knight takes over the ownership then perhaps there would be hope in the future. If strata title is out, it will be transferred to you immediately, as the vendor is out of the picture via the DOA. You would have to appoint a lawyer to do it. Most folks appoint their bank lawyer to do it as the bank would require a charge to be prepared over the strata as the DOA in favour of the bank would no longer be applicable by virtue of the strata title. For strata to be ready, it is the developer who has the duty to do so, but since they are already wound up, there's nothing much anyone can do but to wait with hope.

Then the ownership will now belongs to the liquidator? Does this mean the management fees will go to them?

Hi dariofoo,

I have few questions,

When a vendor wants to sell a property, upon signing the S&P:

Will the remaining deposit be kept by the lawyer?
Wouldn't the vendor get the deposit ?
What happens in the scenarios when the buyer prolongs the payment for two months or more and he have not signed paper?
Will the deposit for the lawyer to keep till approved by pejabat tanah?
Would there be any way that the vendor can cancel the agreement as the buyer havent signed yet?

This post has been edited by thilak833: Mar 14 2012, 11:46 AM

Hi Dario, I have asked but they do not have quotation. Very funny indeed.

Anyway. They breakdown to the part of submitting Form CKHT 2A for me and my Wife and charging RM500++ for it.

So I told them I will submit them myself.

Hi dario, i'm not sure if i'm in the right thread to ask this but, i have been renting a room for about 3 months now. there was no contract signed or paper work when i rented this room. mainly it was based on mutual understanding and everything has been fine until now. my predicament is that the utilities bill for this month arrived and apparently i have to pay 1/3 of it. the bill was rm300+. the problem is that the house is being occupied by the landlord and his wife, the brother and his girlfriend, and me. so what i'm asking is, is it right for me to pay 1/3 of the amount when there are 4 other people plus me staying in this house?

i would appreciate your input in this matter. thanks.

p/s: sorry if i'm not in the right thread.

hi dariofoo...

i am in mid of dilema for the appartment which i had signed & stampped SPA a month ago... the loan lawyer stated that the its ready to release the sum..
issue is that my SPA lawyer are telling me that the vendor /seller of the unit are having single loan with her bank for two properties... and told that the vendor will settle the outstanding sum with her own monies...

it had been 3-4 weeks since the SPA lawyer had requested redemption statement from bank and now she still telling that its not given by the bank yet and the vendor are waiting for the statement before paying it off...

will the vendor's bank take such a long time to issue the statment ? and its quite strange that a loan securities document can contain two properties amount of loan... in this case it seems my SPA lawyer are not helpfull to provide whats the status are... it seems like they are planning for stretching the time out...

i am not sure if this is a twist of story to keep the unit which is currently occupied by vendor friend (as claimed)...till a date that the owner wants..


what can i do on this situation ? just worried that i am played off on this ...

@dariofoo,

This Saturday I'm gonna sign the new SnP with the buyer and her lawyer.

I have opted to send the CKHT 2A form myself. From some "intensive" read thru the web, I learn a few stuffs. Need your advise to see if this is true. I have yet to pay 10% or anything to the seller yet.

1) Do I need to hold 2% and pay the remaining 8% to the seller and remit the 2% to IRD?

2) If seller are able to provide Form CKHT 3 to me, do I still need to withhold the 2% money?

Thanks.

In my case I told them I want to submit myself. The lawyer call me to find other lawyer to do the rest, she don't want to represent me. I am the seller. And this is the buyer's lawyer. It is threaten at knife point. And they charged me RM600 for CKHT for 2 persons...

^Yes that's why I tell them to submit those myself.

The lawyer I'm dealing with is the seller's lawyer. Kind of regret a bit of not listening to my parents and look for my own lawyer instead.

Now I need to know if I have the right to hold 2% of the 10% downpayment if there's no CKHT Form 3 provided. Let's wait for dariofoo to come in and reply. Still got sometime till this Saturday.

I wouldn't say OWNERSHIP BELONGS to them. It's just like the ship has a new captain. The captain doesn't own the ship, but just tries to steer it out of shark-infested (read: creditors) waters. Ultimately the company will reach its final port of destination and be wound up and thereafter cease to exist. Management fees would still have to be paid as usual. It will go into the fund for the upkeep and maintenance of the common property and is out of reach of the creditors, so no worries there.



This post has been edited by dariofoo: Mar 14 2012, 11:44 AM

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This post has been edited by thilak833: Mar 14 2012, 12:03 PM

1. Normally the cheque will be paid in favour of the vendor, unless the vendor instructs it to be paid in favour of the lawyer, perhaps to contra with legal fees.
2. As stated above, normally it will go to the vendor.
3. Normally in the Letter of Offer to Purchase, a time frame will be given to the purchaser to sign the SPA. Normally it would be 14 working days. If the purchaser delay, the 2% earnest deposit is forfeited by the vendor as compensation. Alternatively, the vendor can sue the purchaser to compel him to proceed with the SPA and complete the transaction.
4. Depends on what is stated in the SPA. If it is silent, vendor can have the deposit, but he must be vary that if consent is not allowed (I'm assuming that's what you meant by 'approved by pejabat tanah') - then the vendor must refund the deposit.
5. No. Once the vendor has accepted the earnest deposit and executed the letter of offer to purchase, that is consideration moving from the purchaser to the vendor. It is a binding contract. The purchaser can sue the vendor to compel him to proceed with the SPA and complete the transaction.

That is ridiculous. I'm surprised if you go ahead with this firm. It is unprofessional of them to refuse to hand over a breakdown of the fees to you. By the way, CKHT 2A is RM200 per pax. As such, for 2 pax it is RM400, not 500++. God knows how much the other charges are being marked up.

Be wary.

You are in the right thread. This thread is for legal advice for any type of legal topics and not limited to property matters.

If there is no black and white, the landlord cannot compel you to pay 1/3 of the utilities. Whether it is fair or not is not the question - what is important is that you have to agree to it. And put it properly in an agreement.

I think it's better to get something in black and white now before any further complications rises. If you think the landlord is going to be difficult, then perhaps it's time to move out, as these are the type of landlords who will forfeit your deposit for the most flimsy of reasons. Be careful.