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 MOT for Strata Title & Selling Off Property, Query

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SAHM
post Jul 7 2015, 05:26 PM

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QUOTE(1282009 @ Jun 30 2015, 10:16 PM)
Hi all, my condo unit just received strata title recently. I'm also planning to sell my unit if there's an offer.

My question is would it be cheaper to do all this when I sell my unit or I shall do my strata title transfer first since I'm not sure if I managed to sell my unit soon.

Is the cost same if I do now vs when I do it together when I sell my unit within a year (the strata title transfer deadline is within a year)?

Thanks in advance.

Note: The prop is free of loan
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I have recently sold a property and am happy that the developer is willing to do a direct transfer. Not all developers are willing to do direct transfer especially those involve state consent.

Would it be cheaper? Just calculate the stamp duty you need to pay vs the admin charges imposed by the developer.

Note : in the event the developer does not allow direct transfer, you may need more time to do double transfer, when you eventually found a buyer, ie, developer transfer to you and subsequently you transfer to your purchaser. Time is of the essence and it means money, too. So, you may want to check it out with the developer.

Just m2c.
SAHM
post Aug 4 2015, 11:33 PM

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QUOTE(winner @ Aug 3 2015, 11:09 PM)
It is advisable to use your original SPA lawyer to execute the MOT, as the original lawyer can only charge 25% of the lawyer fee for the transfer. If you use other lawyer to do it, the lawyer fee is 50%.
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True... Original SPA lawyer can only charge 25%. In reality, non-SPA lawyer also charge 25%.
SAHM
post Aug 4 2015, 11:50 PM

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QUOTE(1282009 @ Aug 2 2015, 12:36 AM)
Hi all, thanks for all the replies. I've already hired my solicitor to do the transfer last week smile.gif

According to her, this whole process might take up to 5-6 months. I will need to pay the total sum to my solicitor when developer agrees for my solicitor to handle the transfer, probably be 2-3 weeks time. Is it normal or payment should be made only the work is fully completed, ie. ~6 months from now?
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You mentioned no loan, why need 5-6 months?

If no state consent is not required, can be done within 1- 2 months, (registered and collect the title in your name).

If state consent required, depends whether developer has obtained consent to transfer. For developer to obtain state consent, some very straight forward, ie. already obtained or take 1 month or so. For some complicated cases, take ages.
Once state consent obtained, will need another 1-2 month or so to transfer to your name, like stated above.

Payment, the biggest sum, stamp duty, you may wait until the lawyer inform you that they have received notice to pay, or to avoid delay in payment, you may pay after lawyer sent it for adjudication.
SAHM
post Aug 6 2015, 11:28 PM

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QUOTE(1282009 @ Aug 6 2015, 07:17 PM)
Yes, no loan. According to my solicitor, will take longer for Selangor. If KL will be faster. 5-6 months is the longest, she said could be earlier but don't put hope. Anyway, let's see.

Yes, non-SPA lawyer also charged 25% only of the fees which is same for my case.
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Follow up with the lawyer or land office itself.

After one month of application for consent, my lawyer told me the consent has yet to be obtained. My husband went to land office to check it out, the consent was ready for collection 3 weeks ago.

Registration of title and collection of registered title from land office - after submission for registration, the lawyer supposed to collect it within 30 days (If I am not mistaken, anyway it is written and your lawyer should know.) So, make sure your lawyer collect it within 30 days, otherwise, you have to pay penalty for late collection. And yes, I am talking about Selangor. biggrin.gif
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