There is no fixed rule or guideline on this.

It is up to the lawyer whether to accept such arrangements. Normally fees are collected upfront. Or at least half paid upfront. So, do discuss with the lawyer first about this arrangement before any work is started.

Thank you for your reply.

With regard to item 1, shall I to pay stamp duty fee If I do the MOT (treated as love and affection transaction) instead of S&P?

Hi Dario, thanks a lot for the input.

Thanks Dariofoo.

Thanks Dariofoo

---

Added on April 3, 2012, 9:07 amThanks Dariofoo

---

Added on April 3, 2012, 9:07 amThanks Dariofoo

This post has been edited by william1112: Apr 3 2012, 09:07 AM

hi dariofoo,

I've a property still under transfer to new ownership period. The purchaser lawyer require me to sign a power of attorney for purchaser to sign on behalf to transfer the strata title to their name.For now, we still pending for purchaser bank to release first disbursement to my bank loan. As i hardly understand the law jargon in their contract, is this procedure legal necessary? i don't want to end up in trouble.

What is stated in the SPA? It all boils down to that. If you had agreed to execute a PA, then you can't now ask if it's "necessary". If you don't understand the law jargon in their contract, why not appoint your own lawyer to assist you from the get go?

thanks dariofoo,

My own lawyer says this PA contract is to allows them to transfer the strata title of this property without hassle to get my signature after property transferred. This is special request by purchaser. They will not advice bank to release 1st disbursement until i sign this document. That is why i feel unsecured of this procedure.

This post has been edited by mcwong: Apr 3 2012, 11:32 AM

Hi sirs,
I've got some question regarding insurance in Architecute/ constructing biggrin.gif please do help me out here.

1) If there is a construction building starting on the pilling, the company will surely buy insurance against adjoining property right? biggrin.gif so damage done against that building during construction or pilling will surely be insured. But if the adjoining property or neighbour property is a hospital and there are like old people inside or sick patient. What will happen if during piling the vibration/sound/lack of sleep killed some patient or old people? What insurance should be bought? What steps should be taken?

2) Let's say there is a building and there's like 10 floor in the building. Each floor is owned by different company such as ; 10th floor=OCBC; 9th floor=Alliance Bank ; 8th floor=Maybank ; 7th floor=great eastern ; 6th floor=great western ; 5th floor and onwards. Each of them bought insurance against Fire. Erm... Fire Safety Insurance.
Alright? Now all of them bought the same type of insurance that is against fire but all from different insurance company. So there is 10 company/bank bought Fire insurance from 10 different insurance company. What would happen when the building burn down? What would the insurance company do? Would each of them be given new building? How is the compensation givin out?

get too

Hi guys

A lawyer quoted me 4750 for S&P Fee and 2780 for Loan Agreement

This is after a 35% "discount" . Loan amt is 153k, S&P is written 180 000.

Is this a bit high for his service?

u not entitle for 50% discount stamp duty?

No, 2nd property purchase.

That fee above is quoted by the same lawyer i used for my 1st property purchase a year ago. I find that his Misc charges is kinda absurdly high after factoring in his 35% discount on legal fee

Hi,

If I only do the MOT (love and affection transaction), shall I still need to pay the stamp duty fee as below rate:

First RM 100,000.00 = 1%
Next RM 100,000.01 - RM 500,000.00 = 2%
Next RM 500,000.01 - RM 2,0100,000.00 = 3%

Thank you!

This post has been edited by zoesk.sk: Apr 4 2012, 04:47 PM

Dear all sifu's

Need your input on this quotation, first time selling a house

This quotation is quote by Buyer's lawyer to me

Legal Fees

1) Preparation of Receipt & Reassignment - RM300
2) Revocation of Power Attorney - RM100
3) Preparation of CKHT I - RM 600
4) 6% Government Tax - RM 60

Total RM 1,060

Then other disbursement total up to RM 452 so the final total he quote me is RM 1,512

Is the above amount common or being overcharge? My property selling at RM 425k

Thanks for the advise

huhu no one can answer my question?

You can do it yourself.............or do the running for his to save cost................furthermore, only figures without location, type of property and etc etc as lack of information........u r at the disadvantage where property amount is at low side for lawyer to earn base on calculation at 1st page of this thread + stab....

As the seller, you have the right to dictate terms as you want. It is the purchaser who has to agree to your terms, and you have the option to accept or reject his terms. That is common practice. Of course, the terms requested for must be reasonable.

PAs are normally when one party would be overseas during the transaction period. Even so, that party appoints his own proxy to hold the PA, not the purchaser. However, if it is already in the SPA, there is nothing you can do. It would be a condition precedent to the SPA. That could be the reason why the bank is still holding the redemption sum until the condition is complied with by you.

If it is in the SPA you have to comply with it. There's no other way around it. This issue ought to have been tackled during the drafting of the SPA itself. Your lawyer did not forward the draft to you for your approval?

1) Sorry mate am not sure about the type of insurance. But there is no such thing as a claim for compensation for "vibration/sound/lack of sleep killed some patient or old people". For a claim for damages for negligence there must be causation between the act and the result. If the beam fell directly upon the building then of course there is negligence. But for loss suffered merely due to noise emanating from piling works is not claimable. I doubt if there is insurance coverage for such matters too.

2) If I'm not mistaken for fire insurance for such buildings, it would be purchased by the JMB/MC for the whole building and payment would be pro-rated according to the units owned and collected by each owner. I'm not 100% sure on this though.