Hi Guys,

I book an property after paying 3% booking fee and this sales agent's recommended lawyer called me. He mentioned that he would prepared SnP and get me to sign it in few days. He told upon signing it I need to issue a cheque to the vendor(owner) and not the solicitor firm? He said this would speed up the process.
Is this safe to do so?

No,it doesn't.

I don't understand what you mean. Sorry.


Loan lawyer, unless purchaser is buying in cash.

Thanks for the clarification.

No,bro. As buyer, the completion date will be extended in your favour if there is a delay by the seller.

The completion date will be determined again at the end when keys are handed over.

Any questions relating to any topic in law are welcomed. A breath of fresh air,really.

When it comes to medical negligence, the question which has to be determined is - what losses did you suffer? In other words, what aggravated injury or physical harm occured to you as a result of the alleged negligence? Only then can the damages be quantified.

Sorry but I've never heard of this exemption before.

1. Why not? No conflict. Save costs depends on the bill but I doubt if there's any savings because they are two separate properties.
2. You pay for your own lawyer which you appointed. Simple as that. No sharing.

This depends on the instruction and choice of the vendor. And it will be reflected in the SPA. Check the finalised SPA before proceeding. If it is stated that it is to be paid directly to vendor then so be it. Of course it is safe as the SPA itself provides it. This means the vendor agreed to it.

Who suppose to draft the SPA ?? buyer or seller ?? Who pay ?

Thanks

Good Day,

I would like to check usually how much the cost for legal and loan agreement if we buy a house (RM120K). My banker said they wouldn't include any legal or agreement or valuation cost under loan and I need to pay myself. Please let me know roughly how much i need and what fees will includes? Please help me since I m new to this forum.

Thank you.

Hi Dario,

I come back for further questions and I hope you still remember my case with regard to LoI. I engaged a lawyer to deal with the seller (developer) and already sent few reminders to the seller as well as seller lawyer to request for progress of status of term(land conversion) in LoI. However the seller just did not want to respond to the reminder and I really stuck with the situation here to further to S&P.
When I asked my lawyer to file suit against the seller, my lawyer said it is still pre mature stage to do that. So how long I have to wait because there was no time frame set for the term of land conversion in LoI. If the seller really want to delay the term in LoI because of land price is already increased so much last 2-3years (LoI already passed 2years). What can I do now to enable me to expedite the process to complete the deal?

Thank you.
Regards,

Oh.. kamxia kamxia..

But what if no delay from seller side? Delay from seller bank consider as seller fault?

Hi Dario,

My case:
1) Seller fully settled outstanding loan
2) Loan amt 85%
3) SnP & Loan agreement same lawyer.
4) Free hold Condo, Strate Titled out with the seller

My questions are:
1) When do I pay my lawyer fees, do i pay everthing upfront or in installments?

2) I understand i will need to pay the seller 10% of the selling price upon signing of SnP. My question is that what about the additional 5%? (coz i only borrow 85% loan). When do i pay the 5% and Do I pay it to my lawfirm?

3) Could you share with me the whole process of my case, from signing SnP to getting the keys and in the process, please? what important documents that i will be expecting from the lawfirm throughout the process?

4) After everthing is completed, what are the documents that i need to have in hand to proof that i am the legal owner of the property? will i be getting all of them together with the keys?

5) my friend told me that this is a straight forward case and should be able to be completed faster than the standard 3+1 month period, any comments?

Many thanks for your help!

This post has been edited by dreamadream: Apr 20 2012, 02:54 PM

Why does your lawyer say that is is premature at this stage? He must know more facts of the case than what you have stated here.

Yes

dreamadream:


1. Normally it is upfront. See what your lawyer says.

2. You can pay it now itself (directly in favour of the vendor's solicitor's client's account as stakeholder) but you can pay at any time with the last minute would be before your financier releases the loan sum. They must be assured that the differential sum has been deposited with the vendor's lawyers (or with your lawyers if the vendor is not represented) as stakeholder. Without it, the final release will not take place and things will be at a standstill.

3, Procedure:

1. SPA signed and stamped. In the interim, a caveat ought to be lodged over the property by you (or if you think you want to save costs since the bank will be lodging a caveat as well, then you just wait for the bank to do so via the loan lawyer).
2. You apply for a loan and next step would be to execute the loan documents.
3. Loan lawyer writes to vendor or his lawyer to obtain his confirmation and undertakings.
4. Bank gives an undertaking to the vendor to release the loan.This is for unencumbered properties.
5. Vendor hands over original strata title and other original documents to your lawyer.
6. In the interim, MOT can be sent for adjudication.
7. LHDN will issue notice of stamp duty to be paid upon MOT.
8. Your lawyer pays stamp duty and gets MOT stamped.
9. Your lawyer presents MOT, withdrawal of private caveats forms, and charge in favour of your bank at the land office.
10. With presentation receipt and other ori docs, your loan lawyer advises bank to release final drawdown.
11. Bank release cheque for drawdown of entire loan sum (85%).
12. Your lawyer hands it to vendor or his lawyer, and keys are exchanged together with apportionment of outgoings - end of transaction.

Important documents? SPA, loan agreement and other agreements plus correspondence.

4. Keys has nothing to do with the documents to show ownership. The keys are from vendor. The docs are to be compiled and handed over to you by your lawyer. That can be done later. Copy of geran/title is proof of ownership.

5. Haha. No comments.

Hi Dario

Good day.

I signed s&P on 30/12/11, thus the 3+1 due date should be 30/4.

But my lawyer only able to issue advise to bank on next Monday 23/4 and estimated its will take 5-6 day for bank to issue cheque according to my banker.

My question is :

1. Does my deposit will be forfeit if bank not release cheque on 30/4?

2. checked with my lawyer, he said they will issue a letter to vendor's lawyer to request extend if the cheque not release,
may i know does it work?

Thanks for advise....

Not sure whether this is the correct place to ask...but pls find my current concern as below;

Need your advice...My neigbhour drives 6 wheels trailer and 2 tonnes lorry. He will parked the trailer and lorry out side his house. I am ok with the lorry as he will drive out early in the morning and only come back during late night. But my concern is his 6 wheels big trailer where he will park there from Friday to Monday. The trailer take more than half of the road and i have difficulties to reverse my car out from my house. I talked to him before and previously, he just drive away and come back the next day with the trailer.

What can i do with this situation? My other neighbours are complaining as well. Does this big trailer parking in housing area an offense? Where and who can i lodge an complaint? Police or MPSJ?

Need your advise...as the bigh trailer is physically blocking my outside view from the inside my house...i only can see a big trailer when i open my door.

Hi,

I would like to check whether is any problem if I rejected any housing loan offer from bank? I had applied for housing loan in 3banks and 2 banks already approved my loan, I can choose which one I want right? There is no harm if we reject any loan offer from bank right?

(b) Any notice required to be given under this Agreement shall be in writing and shall be deemed to be sufficiently served on both the Landlord and Tenant if delivered by registered post to their addresses as hereinbefore set out.

Base on the clause above, Notice of Demand send out by registered post deem sufficient even though tenant met accident oversea.Am i right

Hi Dario,

The lawyer said since no time period being set for the land conversion(one of the term) in LoI then the seller did not breach the term in the LoI. We only can file suit against the seller if the land already converted to usage as in LoI but refuse to sell to us or the seller sell the land to other people. Also, the lawyer said this is a waiting game and depend on who is more hungry.
We believe the seller is sitting with the thing without putting any effort to fulfill the terms in the LoI because the land price already increased past 2 years. What should we do now?

Thank you.
Regards,