I recently sold my house and the purchaser appointed her lawyer to prepare the SPA. The agent asked me to appoint the same lawyer since it is faster. Is that advisable?

Thanks. A lot. Will spend time to go through. BTW, I heard we can appeal for the RPGT once in a life time. Is that true?

I sold my 1st property at lost two years ago and this property I sold within 5 years from SPA date. Can I appeal for the 5% RPGT?

Thanks Big Brother.

In such case, is this consider this is my one-time exception from paying RPGT for my second property since I sold my 1st property after 5 years from date of SPA and yet at loss?

Thank you very much

How much is your purchase price?

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Added on September 5, 2012, 10:24 pmI have a doubt. I lately paid a booking for a terrace house (sub sales). The agent told me is fully extend front and back and when I went and viewed the house, it is a decent house and it really like what the agent claimed fully extended front and back.

However, I am applying a bank loan now and some of the bankers asked me if the extension is approved and when I checked with agent, she told me the seller also don't know as the seller bought from previous seller, the house already extended. The agent even email me the valuation report which obtained from the seller. (the valuation report did stated is fully extended but did not stated if the extension is approved)

Due to this, some of the bankers not able to gv high value for this house (they treat it as basic unit) but some of the bankers did nt ask me but straight away gv me the value with extension.

My questions are:

1. Can I ask to cancel the booking due to undisclosu of the info and request for refund?
2. Will the bankers asked for approval plan?
3. Can I submit the extension plan later once I moved in? How and where I can check if the extension is legal?
4. If the bank approved my loan now, later the valuer found out no approved plan and lower the valuation any thus withdraw my loan, can I use this to cancel the spa and asked for full refund?

Thanks a lot.

This post has been edited by brianccg: Sep 5 2012, 10:25 PM

Thanks a lot for helping me on this. In fact, is the agent who told me the approval plan after I paid the deposit and start applying for bank loan.

Brother Dario,

The deadline to sign the SPA is due on 21 Sept as per booking form. However, the landlord requested me to sign the SPA this week which I am not comfortable with as banker just called to informed bank loan approved and I have not really start looking for lawyer to prepare SPA.

Can I not agree to sign SPA this week and should I receive the LO Offer from bank before signing SPA?

Thanks

My banker not allow me to use the same SPA lawyer for loan agreement. As I tot I appoint same lawyer for both SPA and loan agreement will be faster transaction. My point is will it be any potential delay in docs if I using two lawyer for SPA and loan?

Dario Sifu

The seller call off the deal after I paid booking and bank loan approved. Can I asked them to pay me liquidated damages? If they refuse, what should I do?

In addition, can a non bumi buy a property from bumi owner? The property is landed leasehold and I read through the title, did not stated it is bumi lot. From the title can we know if it is bumi lot? I know if Malay reserved land, it will stated in the title but not sure about bumi unit.

If it is non bumi lot, is that difficult to transfer from bumi name to non bumi name? Consent will take how long? It is under DBKL.

Thanks a lot

I also dont know why seller cancel and agent told me they want to sell to relative. I did not miss the deadline to sign SPA in fact is ahead.

Buy a sub sale property but seller lawyer have nt revert to my lawyer on the draft spa and given my lawyer a copy of ic for spa preparation. I buy direct from owner and had prepared a simple form for both party to sign. In the form I stated if spa not sined within 14 working days due to seller not furnish the necessary docs for spa, buyer can call off the deal and asked for deposit refund plus liquidated damages. Next Thursday is due for the spa, if seller still hv nt confirm on spa, can I call off the deal and ask for deposit refund?

Thanks Brother Dario,

The clause as below: -

The formal SPA shall be executed within 14 working days (excluding public holiday and weekend) from the date of receipt of full relevant documents from the vendor(s) and/or vendors' solicitor for the purpose of preparation of the SPA failing which the vendor(s) shall refund the earnest deposit sum to the Purchaser(s) together with a sum equivalent to the earnest deposit as agreed liquidated damages. The purchaser(s) reserve rights to opt for specific performance.


My lawyer had sent the draft SPA to seller's lawyer on last Tuesday for vetting and request for a copy of seller's IC for the preparation of final SPA but the seller's lawyer has not reverted anything till today and even the cheque that I paid he has not bank in yet and not clear. So can I said this deal is not confirm since no earnest deposit paid?

The 14 days is going to due on this coming Thursday and if I decided not to take this house now, will i need to pay him the compensation (there is no clause stated he can forfeited my booking but there is a clause said he has to refund the earnest deposit if I cannot secure a loan amounting to RMXXX.)

Bro,

How we know if the seller's lawyer had applied the consent from land office? Do they have to provide a copy of such letter to the buyer's lawyer as proof?

Thanks