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Lawyer's Corner v2, One-stop centre for any legal queries
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steventan85
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 Jul 26 2012, 10:41 AM
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can i request for a quotation for loan agreement lawyer fee from Bank's panel lawyer to compare with other firm ?
i borrow legal fee on top of housing loan amount from OCBC. the banker told me that OCBC need to redraft the LO , if i want to change the loan agreement lawyer to my developer's lawyer . But as far as i concern , LO doesnt stated down the lawyer firm appointed and LO doesnt not related to OCBC panel lawyer.
I consulted my developer office and they told me that i still can choose my own lawyer even i signed the LO. LO is LO , doesnt related to lawyer appointed. so no need to redraft LO...and the LO never mentioned about the lawyer firm as well.
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steventan85
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Jul 26 2012, 01:36 PM
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QUOTE(dariofoo @ Jul 26 2012, 01:31 PM) You should always get a quotation from the law firm first BEFORE you appoint them. Once work has commenced it's going to be a problem to switch. If you had taken the same solicitor for your SPA, you could've requested for a discount on disbursements (expenses) as this would be given if you take the same solicitor for both. That would be one advantage, plus it would save time as well. Legal fees follow the scale but disbursements always differ from firm to firm. PS: Warewolf and steventan85 same person?  the bank appointed the firm without my acknowledge. i have yet to provide sufficient documents to proceed for the loan. they still need some documents frm me .. This post has been edited by steventan85: Jul 26 2012, 01:37 PM |
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steventan85
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Jul 26 2012, 03:23 PM
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QUOTE(dariofoo @ Jul 26 2012, 03:19 PM) By right they should let you choose your lawyer. Even for banks who insist on their 'full panel' firm of solicitors, they should give you a list of it and let you choose yourself. But in practice, some (am not saying all  ) want to cari makan so they would automatically push it to their own personal panel firm in order for some  to fly their way. i see. i dont mind about that as long as the fees charge is reasonable. and smooth process but i cant get quotation to compare d..  This post has been edited by steventan85: Jul 26 2012, 03:24 PM |
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steventan85
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Jul 26 2012, 03:40 PM
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QUOTE(dariofoo @ Jul 26 2012, 03:34 PM) If you rajin you can browse through the various samples and my comments thereto in v1 of this thread.  yeah.. saw a lot of examples.. but can we dispute on the charges in case they charge unreasonable disbursement fee ? thanks a lot for ur effort. appreciate it !  |
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steventan85
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Aug 6 2012, 03:29 PM
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hi Dario,
juz received a quotation upon request
noticed that there are few charges the law firm charged me :
Disbursement
Registration fee for :
entry / withdrawal of caveat RM340+RM80
Charge : RM 120
Application and registration fees for consent to charge RM100
Application for consent to charge : RM50
Legal Fees :
Charges annexure : RM200
Entry and withdrawal of Caveat ; RM350
Consent to charge :RM300
It is a freehold condo , with master title , still under construction.
The solicitor insisted that i still need to pay for it even after 2 yrs when my condo unit complete... is it true ? i referred to all quotation samples provided by forumers and non of them get charged for this ....
is it compulsory ? or it is depend on the bank ?
This post has been edited by steventan85: Aug 6 2012, 03:30 PM
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steventan85
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Aug 6 2012, 07:30 PM
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QUOTE(dariofoo @ Aug 6 2012, 04:24 PM) These are the types of lawyers that put the legal profession to shame.  How can they charge you for Charge Annexure when there is a Master Title? The bank cannot create a charge over the master title. And when there is Master Title, the banks would not lodge a caveat over it. They would consent to a waiver. This lawyer is taking you for a ride.  Furthermore, for freehold, why the need for consent to charge? Does the land come with any restrictions in interest?  so meaning to say , the charges are not relevant to me even after the condo complete ? as for restriction in interest , i referred to the brochure by developer , encumbrances : NIL , so it is a NO right ? |
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steventan85
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Aug 7 2012, 10:33 AM
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QUOTE(dariofoo @ Aug 6 2012, 10:32 PM) For charge annexure it is only due when strata title is out. By right they can't bill you now for it. Furthermore, there is no requirement for you to retain them to do the strata title later anyway. Encumbrances refers to a charge over the master title. Restrictions refer to whether consent is needed or otherwise. Ic... so for the private caveat , do i need to do it when i get the strata title later ? or its not relevant to me anymore ? if i appoint other solicitor to do strata title , will i incur additional cost ? i mean if i use the same solicitor , will i save the hassle and cost ? i dont see any restriction in interest mentioned in the brochure .. i only saw "restriction in interest" in leasehold property brochure . This post has been edited by steventan85: Aug 7 2012, 10:37 AM |
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steventan85
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Aug 7 2012, 02:44 PM
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***deleted***
This post has been edited by steventan85: Aug 7 2012, 02:51 PM
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