Dec 7 2011, 07:02 PM
QUOTE(dariofoo @ Dec 2 2011, 12:49 PM)
Boss,
Why you call me Mr Foo?
I'm just dariofoo la. 
Anyway, it looks like you've got a SP clause there so you can compel them to complete the SPA and get vacant posession.
This is where you must understand the difference:
1) If you go for SP, then the costs which you can recover from the vendor would be the legal costs of litigating the matter in Court. That is all. You can't ask the vendor to pay you for legal fees for SPA and other costs related to the SPA as you are seeking that the vendor honours the SPA and completes it.
Don't be confused with legal fees - if you pay your lawyer xxx amount to file the suit in Court, don't expect the Court to award you the same xxx amount as costs. It will surely be less.
2) If you don't go for SP, then you terminate the agreement and the vendor reimburses you 10% plus another 10% as compensation. That compensation is meant to cover your expenses incurred throughout the SPA. You're not supposed to profit from it - the extra 10% is meant as compensation.
Hope that clears it up for you a bit?
Hi Dario, thanks for the clear explanation. Why you call me Mr Foo?
I'm just dariofoo la. Anyway, it looks like you've got a SP clause there so you can compel them to complete the SPA and get vacant posession.
This is where you must understand the difference:
1) If you go for SP, then the costs which you can recover from the vendor would be the legal costs of litigating the matter in Court. That is all. You can't ask the vendor to pay you for legal fees for SPA and other costs related to the SPA as you are seeking that the vendor honours the SPA and completes it.
Don't be confused with legal fees - if you pay your lawyer xxx amount to file the suit in Court, don't expect the Court to award you the same xxx amount as costs. It will surely be less.
2) If you don't go for SP, then you terminate the agreement and the vendor reimburses you 10% plus another 10% as compensation. That compensation is meant to cover your expenses incurred throughout the SPA. You're not supposed to profit from it - the extra 10% is meant as compensation.
Hope that clears it up for you a bit?
But, y u called me 'boss' r? I am not. 
Ok, back to the topic.
I hv told the lawyer i will bring the case to court and the owner was threatened and considering to change her mind.
However, i did not hear anything from the lawyer since then.
I would like to share with you some of my SPA lawyer's problems:
1) According to the SPA, the Completion Date (3+1 mths) shall start when the 2nd MOT is in favor of me.
On 22/09/11, the SPA lawyer advised that the Completion Date & Extended Completion Date shall fall on 12/12/2011 and 12/01/2012 respectively.
I refered to the email & sent her email to ask her for the evidence for the 2nd MOT, she NEVER reply. And she didnt send the original letter to my loan solicitor!
2) On 21/10/2011, the SPA lawyer emailed to me and said:
QUOTE
"We wish to confirm that as follows :-
(a) The First Memorandum of Transfer ("MOT") entered between Developer and the Vendor(s) has submitted for adjudication on 3/10/2011 and the same is pending Notis Taksiran issue by Lembaga Hasil Dalam Negeri;
(b) The completion date for the Sale and Purchase transaction falls on 25/12/2011 and 25/1/2012 respectively;
© We still pending th fresh Redemption Statement Cum Undertaking from the Vendor(s) Financier, HSBC Bank (Malaysia) Berhad upon receiving we will forward the same to your Loan Solicitors to proceed advise for partial loan sum"
(a) The First Memorandum of Transfer ("MOT") entered between Developer and the Vendor(s) has submitted for adjudication on 3/10/2011 and the same is pending Notis Taksiran issue by Lembaga Hasil Dalam Negeri;
(b) The completion date for the Sale and Purchase transaction falls on 25/12/2011 and 25/1/2012 respectively;
© We still pending th fresh Redemption Statement Cum Undertaking from the Vendor(s) Financier, HSBC Bank (Malaysia) Berhad upon receiving we will forward the same to your Loan Solicitors to proceed advise for partial loan sum"
I was pissed-off and sent her email to ask her y she advised 2 different Completion Dates & Extended Completion Dates, AGAIN, SHE NEVER REPLY!! and She dares not to send out the original letter to my loan solicitor.
3) On 1 December 2011, the SPA lawyer said in her email that (fyi, same date at night, the SPA lawyer called me to tell me about the Owner's intention to cancel the deal):
QUOTE
"(a) Original Redemption Statement Cum Undertaking in favour of Malayan Bnking Berhad;
(b) The duly stamped Statutory Declaration by the Vendor(s);
© The duly adjudicated First Memorandum of Transfer dated 7/11/2011 entered between the Developer and the Vendor(s);
(d) The duly adjudicated Second Memorandum of Transfer dated 29/11/2011 entered between the Vendor(s) and the Purchaser(s)
(e) Official receipt issued by Management office"
(b) The duly stamped Statutory Declaration by the Vendor(s);
© The duly adjudicated First Memorandum of Transfer dated 7/11/2011 entered between the Developer and the Vendor(s);
(d) The duly adjudicated Second Memorandum of Transfer dated 29/11/2011 entered between the Vendor(s) and the Purchaser(s)
(e) Official receipt issued by Management office"
My loan solicitor wrote to them officially to ask for all the B&W from her, she has not reply. So my Completion Date is not started yet since my loan solicitor has not received any B&W from the SPA lawyer.
Angel Dario
, pls give me some advices. The SPA lawyer is playing all the tricks and didnt care much about her Client.May i know:
1) Is email an valid evidence for me to lodge a complaint to the Bar Council? (She always CONFIRM many things in the emails but never send over the original cover letters, even my loan solicitor requested for it)
2) My fren asked me to request for a Performance Monitoring from the Bar Council. Does it work?
3) I doubt she has submitted the 2nd MOT for adjudication. Is there any way to check without going thru her?
4) How can she simply advised the Completion Date? and changed the Date at her wish? What can i do?
5) Pls give me some advices on dealing with Lawyer like this. Even my loan solicitor cant stand the SPA lawyer oledi.
Pls
Thanks
This post has been edited by irise.ufall: Dec 7 2011, 07:10 PM
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