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 Strata title, how much it could cost?

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Noregrets
post Apr 26 2013, 05:02 PM

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Cost me about RM 1500 in total using the same lawyer as for my S&P.
I also redeemed a property recently and cost me RM550 from the same lawyer.
Noregrets
post Apr 26 2013, 11:25 PM

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S&P is 200 plus, now 400 plus.
Note that I paid the stamp duty to my lawyer when I signed the S&P so,when strata title was issued I don't have to pay again.
Noregrets
post Apr 27 2013, 05:07 PM

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I just checked - there are 2 bills I paid after strata title is issued.
One is for perfecting of charge.
The other for perfecting memorandum of transfer which involves my financier.
Hope this helps.

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Noregrets
post Apr 27 2013, 05:21 PM

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There is a penalty is you do not do it on time - cant remember how long you are given.
And when you want to sell the house, it will be messy.

I just bought a strata title property where the owner did not do the transfer. The owner also tried to save money by requesting me to do a direct transfer. It took me 2 months to get the developer to agree to a direct transfer and this is after a lot of threats from me to abandon the purchase. I had a clause inserted by my lawyer in the S&P to state that the owner must get the developer to get the direct transfer out within 1 month otherwise I may abandon the sale without penalty.
Of course I did not exercise the right as I like the house and I got a good price.

Today still no keys, I am losing interest for 40% of the purchase price - 10% paid upon signing of S&P, 30% paid in March. My bank released another 55% early April for vendor to redeem the loan and I just got charged interest by my bank for the redemption amount released.

Frustrating.

 

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