Thanks for the detail reply.

one last question , My hire purchase date is on MAR 2007 . loan with bank date is JAN 2008.

so the 5 years GOV tax start form the hire purchase date ? am i right ?

thanks

Hire purchase? You mean Sale & Purchase ? Yes it is from the date of the S&P agreement.

yes sale & purchase . my bad
thx again dariofoo.

dear sifus,

i'm new in property here

i'm thinking of buying a low cost flat in wangsa maju (not so low cost since now the price is more than 100k). i have a few questions here:
1. is it true that the stamp duty is free for low cost flat?
2. if i buy this flat, is it true that i cannot buy another low cost flat within 25km radius?

many thanks all.

My loan amount is 246k, the legal fee is 4.9k, is this reasonable?

*deleted*

This post has been edited by kw_cheah: May 4 2012, 10:14 PM

It is around there bro.

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Added on May 4, 2012, 10:13 amPartly correct, there is others to involve as well. He should go at the first page.

This post has been edited by Seremban_2: May 4 2012, 10:13 AM

1. Not true. However, if it is your first purchase and the price is below RM350,000.00 - you are entitled to 50% off stamp duty for MOT/DOA and primary loan documentation.
2. Check with your local authority as they may have their own guidelines on this.

hi guys, i intend to buy a new house. but i tied with 2 loans currently and one of loan is a joint borrower with my family. hence, i decide to transfer that loan to my family so that i can buy a new house with 90% loan capacity instead of 70% controlled by government. so, what is the best way to do this and any legal feel incurred for this transfer of loan borrower?thanks.

The offer letter stated the legal fee is financed into the loan. Can I know is it possible to nego with the lawyer to get some refund back?

Hi guys.

I have a problem with the title transfer from the developer to my dad's name. This property was purchased in 1985 and till now, the title is still under the developer's name.

As of now, we only have the S&P and the original title that we re-issue from the land office. We don't have the state consent letter to execute the MOT for the title transfer.

I have tried all means for the passed 3 years by contacting the developer and also the land office asking help or pointers on how to move forward with the title transfer but without success.

All i can say is that the developer just "Wash Hand" by saying "property more then 20 years and we have destroyed all the files for this development.".

I was wondering if anyone from this forum can give some guidance on how to proceed to get the title transferred to my dad's name. We have title but cannot perform transfer.

Is there a way to by passed the developer to get the state consent transfer letter?


Please HELP!!

I have signed the offer letter but not the loan agreement yet, can I still request for the 50% stamp duty waiver from the lawyer?

You would need to refinance that loan. Legal fees would be for the loan documentation which would be borne by the new borrower. It is scaled according to the loan sum. Best to approach a banker for further info on the application process.

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Added on May 4, 2012, 10:39 pmThe rules of this thread are very clear in the first page of this thread - no questions on discounts are allowed here. Please ask in the open forum.

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Added on May 4, 2012, 10:48 pmYou mean that individual title is out but it is still under the developer's name?

Have u tried obtaining a copy from the land office? They ought to keep proper records. Another way is to trigger a transfer to a third party. In such case the dev has to give an undertaking to do a transfer of the title, either to ur dad or direct transfer to the third party. If they refuse, your dad has the right to sue them for breach of contract. Fraud, even. The dev has a fiduciary duty to effect the transfer. Seek legal advice from a lawyer and proceed further.

This post has been edited by dariofoo: May 4 2012, 10:48 PM

How do we calculate legal fees for loan documentation?

dear sifus,

I'm purchasing my first house... pretty new at this, so need some help. i have a few questions:

1. I've signed snp with vendor, but there was some problem getting consent. I've already paid the 10% dp. at that time when viewing the house, the condition of the house was good, only 1 person staying there. however, since its been almost 8 months since that period, the landlord decided to rent it out to bunch of african students. what can i do about this? I'm afraid the condition of the house will get bad.. since many people staying there. Also i have a feeling the vender purposely stalling this deal.

2. I think the lawyer that i hire is not doing his job well. lately, he's been avoiding my calls. its been 6/7 months since i signed snp but i don't have anything other than the papers (snp), I've lost around 40k (dp + lawyer fees... which i already paid in full... ). I know its a mistake to pay in full, but I'm still new at this, so its a lesson for me. every time if i can call him, he say nothing he can do, since its the land office that is slow. any advice on this? I'm actually thinking of changing lawyer.. but I've already paid him full amount. i don't know what to do...

sorry for long post, but I'm having so much trouble purchasing this property. i dunno how many months more i have to wait. now I'm renting a place, but this money should have been used to pay the house monthly installment.

appreciate all the help. Thanks!

many thankss, sifu~

Hi Dario, im in the process of buying a subsale unit. Vendor verbally agree to sale the house to me (no deposit given and no agreement signed), my loan is also approved. 2 weeks ago my lawyer have collect all the documents required to prepare a draft and send to vendor's lawyer, but until now there is still no reply from vendor's lawyer.

Im still waiting to sign the S&P.

Is it normal to take this long? Should i contact with the vendor to speed up the process ?

Hi Dariofoo,

I'm buying a new house at Rawang.

The Developer asked me to sign a cover letter/S&P at the developer show house. He's mentioned the S&P that I'll be signed is standard S&P from Home Ministry. He asked me to signed first since the S&P from lawyer will take sometime and I won't require to sign again once the lawyer has the S&P.

Is it ok for me to sign the S&P? or request only sign S&P from the lawyer?

thanks.

1. You can still inspect the house before accepting the keys , but note what is stated in your SPA. Normally, ''fair wear and tear' is accepted. If there are serious defects, then the vendor has to rectify it. Of course, this is only applicable if it is stated in your SPA,so do check.

2. It is normal for fees to be paid in full upfront. Does the vendor have his own lawyer? Consent is for the vendor to obtain, not the purchaser. So, if there is a lawyer for the vendor, then the delay is coming from there, not your lawyer. If your lawyer is the one who is handling the consent, then ask for correspondence to show that he has indeed put in the application and if he has followed up from time to time with reminders to the land office.

2 weeks is not a long delay. You should not contact the vendor directly as both parties are represented by solicitors, so let them sort it out. Probably the vendor's lawyers could be waiting for some documents from the vendor's side as well.

NOTE: Next time, put in an earnest deposit and get something in writing.

As it stands, this verbal agreement with no exchange of consideration is not a binding contract. However, since he has appointed a lawyer, I suppose his intent is to proceed with the sale.

A promise to sell without any consideration moving from the other side to the promisor is not a contract and is thus enforceable. Even if you give him RM1 and he accepts it as deposit, then there is a binding contract.

There are exceptions to the above rule but I doubt if it applies in your case.