You mean stamping of the SPA? Or do you mean legal fees?

Stamping is paid by purchaser. Each party bears own legal fees.

Make sure you get the acknowledgement slip from the courier later.

After that when you make the necessary deductions and payments, record it in writing and send it to him (with photocopy of all receipts included). This is to protect yourself later, in the event he gets some idea to hit back at you. Spend a bit now, but avoid more headache later.

Good luck

Here's another link where you can get all the forms:

http://www.selangorbar.org/content_dtl.php?id=14886

Purchaser has to pay full scaled legal fees to his lawyer as the purchaser would definitely need to appoint his own lawyer.

As for seller, 2 options:

1) Appoint another lawyer to act on seller's behalf - seller has to pay full scaled legal fees to the lawyer. Lawyer would vet the draft SPA prepared by the purchaser's lawyer and would also follow up with redemption of seller's loan, preparation of discharge of charge/deed of RnR, application for consent (if applicable) and filing of CKHT Forms.

2) Do not appoint own lawyer but authorise purchaser's lawyer to assist with redemption of seller's loan, preparation of discharge of charge/deed of RnR, application for consent (if applicable) and filing of CKHT Forms. Seller does not pay full scaled fees but is fixed on the assistance rendered by the purchaser's lawyer, eg applic for consent is RM300, discharge of charge is RM300, plus some disbursements would be payable too.

For option 2, seller is deemed to be unrepresented. You need to check the draft SPA yourself. The purchaser's lawyer does not have the duty to explain to you the contents nor act in your best interest. If there is a delay on your part, for example delay in your bank to issue the redemption statement , the completion date would be extended in favour of the purchaser.

Yes

Are you referring to the 50% rebate on stamp duty upon instrument of transfer for properties below RM350,000.00? If so, you do not qualify as the current purchase is not your first house purchase.

Not more than RM350K. There are guidelines.

Check out this topic for more info:

http://forum.lowyat.net/index.php?showtopic=1748580&hl=

New house as in purchase from developer?

Well, it depends if the legal fees for the bank's lawyer is included in the package or otherwise. Some developers just absorb the legal fees for SPA, but not for loan. Some absorb both. So do check with the developer.

If you have purchased another residential property you do not qualify for the rebate. I'm sure you would have affirmed a Statutory Declaration to say that you fall within the guidelines as stipulated by LHDN. If you haven't you would be called up soon to do so, as the SD is required when applying for the rebate.

For the guidelines, you can refer to the following link:

http://forum.lowyat.net/index.php?showtopic=1748580&hl=

Do remember that affirming a false SD is a criminal offence. So do check with the lawyer (not with the clerk or staff) as to whether you qualify or otherwise.

You need to abide by the terms of the SPA which both parties have signed. Look at the time given to the vendor to comply with the transfer of ownership of the other half-share. 6 months? 9? Until then, you can't fault him at all. You ought to be aware when you're buying this particular property that it is not the run-of-the-mill transaction and that it may be delayed. So, do be patient.

With regard to your statement that the owner has 10% and thus, it would benefit him more to delay the process - that is an incorrect statement. The longer the delay, the more detrimental it is to the vendor as the price of the property may appreciate, and he can't do anything about it. Add in inflation and you'll see that the vendor has no reason to delay things. He would definitely want to use the balance 90% for other matters as well.

If you're confused about the whole process then it's time to speak your lawyer directly and find out the latest status and also the flow of proceedings. Some enlightenment would be useful, as you're a first time buyer. Good luck.

Sorry mate I can't understand the time period you're speaking of. Your lawyer does not seem to be well-versed in these things? Are you sure? How can you come to such conclusion? Your lawyer is the one who prepare the SPA for you so surely he must be well-appraised of the implications of the terms and conditions of the SPA..

If you want me to advise you further on the issue of length of time for vendor to complete the transfer, please scan a copy of the relevant pages of the SPA - those clauses which refer to transfer of ownership/completion date and other such terms - and put it here. If any sensitive information, do blank it out.

Cheers.

This post has been edited by dariofoo: Jan 11 2012, 06:58 PM

No other expenses? Legal fees, agent fees also can be included as expenses.

RM380K - 240K - 50K - any further deductions = nett gain

Nett gain x 5% = CKHT/RPGT

1) This is sticky as it is January and surely the request for payment by land office has not been issued yet but it does appear to be outstanding as we are already in 2012. Your lawyer has to check with the bank if they can waive the requirement for it to be produced, subject perhaps to a letter of undertaking by the developer to settle the quit rent for 2012 as and when same is due for payment. Perhaps a verbal explanation by the lawyer would suffice. Depends on the bank's discretion. If verbal don't cut it, a letter ought to be ok.

2) You can have it once it is stamped by your lawyer. No need to wait until final disbursement of loan. With proof of submission of DOA for adjudication of stamp duty, it would be sufficient to advise for drawdown.

Government/land office cannot transfer name directly to owner. Master title is in the name of the developer and strata title would be in the name of the owner/vendor. Looks like the developer insists on a back-to-back transfer and not direct. That seems to be the trend these days.

For the money which the lawyer is asking - tell her to put it in black and white and write to you, explaining the actual cost of the "procedure". If it is legal and can be done, the letter ought to explain it. If she refuses, then you can assume that it is for an illegal cause. Do be cautious.

I think our friend meant "consent" and not "concern".

Thanks for your concern

It depends on the LHDN branch in question who is processing the submission. If all is ok you can get it within a week at the best. Most of the time it takes 2-3 weeks. 1 month is a safe figure. Sometimes if there is an error and document gets rejected OR if the staff in charge is not "aggressive" enough then it can drag longer than 1 month also.

Normally if it is aborted half-way after it has been executed, half of fees would be paid (or refunded back, if paid in full). That is customary practice.

In this case, you need to discuss with the lawyer. If it is your usual lawyer and you're going to use him again in the near future for another property, I'm sure he would not make a big deal out of it.

I don't she meant full refund. The normal scenario would be that all outgoings - maintenance, quit rent (if any), assessment, sinking fund, fire insurance, indah water etc would be pro-rated between you and the vendor.

Example: Maintenance for April 2012 is RM150. SPA completed on 15th. So, you would need to pay maintenance from 16th-30th April (15 days). As such, you would need to refund half of maintenance for April to the vendor (15 out of 30 days). So you would need to pay RM75.

Same goes for all utilities. If for full year - like quit rent, then you pro-rate on daily basis for the whole year. Your lawyer ought to do the necessary calculation for you.

Half of scaled fees. If normal scaled fees is RM2000, you pay RM1000.