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Lawyer's Corner v2, One-stop centre for any legal queries
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excelint
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 Sep 27 2012, 03:39 PM
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Getting Started
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Dear Dario,
i just bought a property, and i got my loan secure, and signed the bank offer letter 3 weeks ago. now, the developer (my sale agent) called me and sent me the S&P, DMC (Deed of Mutual Covenants) for signing.
i thought all these legal thing must be done in the lawyer office, but my sale agent told me, just sign it and then either pass to him or send to the developer office, then they will process the next action. he said every buyer doing the same process.
a) is "the sales agent may acts as a middle man btw the buyer and the lawyer." normally happen process?
another thing, during i sign bank loan offer letter, i have to initial every page of offer letter. but in my s&p and DMC case, he said no need, just sign on the page where ask for my signature.
b) is it a must or just optional to sign initial on every page?
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excelint
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Sep 27 2012, 04:11 PM
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Getting Started
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QUOTE(dariofoo @ Sep 27 2012, 04:07 PM) a. Anyone can be a middle man but if you insist to sign in front of a lawyer, of course the lawyer must oblige and allow you do so. The problem is that Malaysians don't like to waste time and effort so if there's a runner who's willing to collect all the documents, they are more than happy. So, yes, it is a normal process but if you feel that you want to sign in front of a lawyer, by all means go ahead and request for it. b. optional but it is recommended to do so. thank you Dariofoo you enlighten me a lot. |
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excelint
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Sep 28 2012, 03:13 PM
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Getting Started
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Dear Dario,
I bought this unit of property direct from developer, which free the S&P agreement + stamp duty.
a) However, when i read thought S&P, i found this. is this normal??
S&P
32. Stamp duty and registration fee
The stamp duty and registration fee for this Agreement and the subsequent transfer of the said Parcel referred to in subclause 11(2) shall be borne and paid by the Purchaser but each party bear its own solicitor's costs.
Also, in Deed of Mutual Convenant (DMC)
Section 8.15 Costs
The costs for the preparation ofthis Deed including the stamp duty and solicitor’s cost shall be borne and paid by the Purchaser.
b) Also, the developer actually promise 2x aircon, lighting, fan, kitchen cabinet, water heater and etc. but all these not writen in s&p. normal?
This post has been edited by excelint: Sep 28 2012, 03:13 PM
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excelint
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Sep 28 2012, 04:19 PM
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Getting Started
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QUOTE(dariofoo @ Sep 28 2012, 04:03 PM) I think the developer is following the standard Schedule G or H agreement which states that stamp duty and fees are to be paid by purchaser. Same goes for Deed of MC. As long as they are not collecting upfront from you then it should be ok. To confirm - check with the developer and lawyer again. With regard to the other promises, where is it stated? If just in the advertisement or brochure given to you before you sign the SPA, then it is not binding upon them if they don't deliver in the future. It should be included in the schedule to the SPA. You should bring this up with them if you feel that you don't trust them and want it to be in writing. During i pay the booking fees, they gave me a document to sign TYPE S1 SEMI FURNISHED PACKAGE 1) KICHEN CABINET 2) LIGHTING FITTING 3) AIR CON 4) WATER HEATER 5) CEILING FAN 6) DOOR BELL is this valid? is this normal not to state in S&P? how important should i request to add in? thank you. |
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excelint
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Sep 29 2012, 01:26 AM
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Getting Started
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-- deleted --
This post has been edited by excelint: Oct 1 2012, 08:32 PM
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