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 Lawyer's Corner v2, One-stop centre for any legal queries

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Shades
post Dec 14 2011, 03:46 PM

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From: Infront Of Any Pc
Hi,

Hopefully you guys can help me. My situation is I've signed a SPA to buy a subsale property. I've already signed the Letter of Offer from my Bank and now just waiting for the proper documentation to released the funds.

The owner just informed me that she has received the keys, VP letter and CCC from the developer (Sime Darby). I instructed my lawyer to start the process of releasing the funds, changing title etc.

Will the bank released the funds with just a CCC letter or do i need to wait for the CFO from the local council?

If bank can released the fund with just the CCC, is it advisable to take possession of the house without the CFO?

A new buyer here .. apologize for the ignorance.

Regards
Shades
post Dec 19 2011, 11:16 AM

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From: Infront Of Any Pc
QUOTE(dariofoo @ Dec 16 2011, 12:35 AM)
If I'm not mistaken, the CCC replaces the need for a CFO. With the CCC, the owner can move into the unit already. I think this came into place sometime in 2007 to eliminate the need for CFO, which was a cumbersome process, full of red tape. However, if i'm not mistaken, it only applies to new properties which are not larger than 2 stories.

If your property fits the description, then the bank ought to be satisfied with proof of a copy of the CCC in order to release the balance loan sum.  icon_rolleyes.gif
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Thanks Dario... have a good one.

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