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Investment SETIA ECOHILL (VERSION 16), An Inspiring Eco Township

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samkps
post Nov 27 2015, 10:57 AM

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QUOTE(Jasoncat @ Nov 27 2015, 10:31 AM)
Samkor, loan document need to be stamped ad valorem ie 0.5% of the loan amount.  The copy that the borrower and solicitor received will be stamped nominal ie RM10 per copy.  Also, I make no difference between stamp duty and stamping fee.  Stamping on the SPA is to make the document admissible to court but it's still a valid contractual agreement even not stamped.  MOT is another instrument to register the transfer of title and it attracts ad valorem stamp duty.

Perhaps TKJ can enlighten us wink.gif
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Yeah, can have different legal and technical term. For layman like me, I presume only consider the following:

SPA:

i.) Legal fees
ii.) Stamp Duty @ MOT
iii.) Disbursement

Loan Agreement:

a.) Legal fees
b.) Stamp duty

As a purchaser, I believe we only concern much the fees incur for items (i), (ii), (a), (b). Out of all these costs, item (ii) is the most expensive I presume.

All those stamping fees, bankruptcy/ Winding up search, land search etc, buyer would appreciate if the developer can absorb it. But even it doesn't, it also not the very big concern, as it is the smallest amount among all the fees incur.

If the developer/SA/seller claim stamp duty for SPA is absorbed, for me it means MOT is absorbed, stamping fee is not stamp duty for SPA.

SPA is a legal document meant for name transfer, so its associated stamp duty is "stamp duty of transfer (MOT)", definitely NOT "stamp duty of stamping", because SPA is never a document meant for stamping.. sweat.gif sweat.gif

This post has been edited by samkps: Nov 27 2015, 10:59 AM
samkps
post Nov 27 2015, 11:02 AM

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QUOTE(corleone74 @ Nov 27 2015, 10:23 AM)
the correct legal term is MOT or ad valorem stamp duty on transfer.

yes, there is also stamp duty for loan agreement, and also stamp duty for loan itself 0.5% of loan amount.

when you ask the developer must itemise it clearly. some rookie sales personnel don't even know the differences between the fees payable.

hope this helps and enjoy your new house.
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That's right. SPA is for name transfer, therefore the stamp duty for SPA = ad valorem stamp duty on transfer.

It would be very confusing if say stamp duty for SPA = ad valorem stamp duty on stamping (if got such term lah). sweat.gif sweat.gif
samkps
post Nov 27 2015, 02:13 PM

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QUOTE(BRE @ Nov 27 2015, 11:18 AM)
SPA is the contract between the developer to sell the prop to the buyer with the T&Cs and the MOT is the legal document lodged in land office to transfer the ownership of the prop to the buyer from the developer, so both are different docs.

Ad valorem stamp duty is a type of stamp duty imposed on the docs where the value of the stamp duty depends on the type of docs ie SPA, MOT, loan docs etc.
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I presume different people will have different interpretation in terms of actual "stamp duty" and "stamping fees".

Personally, as a layman, I dun treat stamping fees as "stamp duty" though.

I myself shall follow the info that is published by National Homebuyer Association interpretation as what's call "stamp duty".

http://www.hba.org.my/faq/fees.htm
samkps
post Nov 27 2015, 02:22 PM

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QUOTE(corleone74 @ Nov 27 2015, 02:10 PM)
Wrong, SPA  is a DOCUMENT for outlining an agreement of sales and purchase between buyer and vendor.  There is a SD for this document ie to "legalize" the agreement.

The MOT is ad valorem stamp duty for actual transfer of the said property.

These are two different things.
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Yeah, the "SD" in "legalize" the agreement is the so called stamping fee. So, from your perception, if developer claim they pay for the SPA stamping fees, it means developer absorb the "SPA stamp duty", which is RM 10 per copy.

From my perception, this is "cheating" the customer if the do so. Of course based on your interpretation, it is not.

As I said, for the loan agreement also similiar, developer can claim they absorb the "stamp duty for loan agreement" but can be the stamping fee for the copy, also stamp duty. Lol.. tongue.gif

This post has been edited by samkps: Nov 27 2015, 02:23 PM
samkps
post Nov 27 2015, 10:00 PM

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QUOTE(corleone74 @ Nov 27 2015, 06:05 PM)
No la brudder it's not my perception or whatever, i'm just stating what is the correct term to use. As for when looking at dev freebies, I will ask developer agent directly whether it's for MOT or just the SPA stamping. In a way, you can call it "misinformation marketing" if you like. why? Your SPS house setia should be paying for MOT, am i right?
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Perhaps that's the gimmick of SA.. Yeah, for my unit be stamping fee or stamp duty, all bao ka liao. brows.gif
samkps
post Nov 27 2015, 10:02 PM

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QUOTE(gtfan @ Nov 27 2015, 06:53 PM)
I wonder whether any p2 buyers build their bungalow yet? Already vp for some time.
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Seems like dun have yet. hmm.gif
samkps
post Nov 27 2015, 10:49 PM

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QUOTE(Rabel @ Nov 27 2015, 10:18 PM)
The SA told me some owners oredy submitted plan.
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Wah, good news... rclxms.gif rclxms.gif
samkps
post Dec 1 2015, 11:45 PM

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Merrum unit.. brows.gif brows.gif

https://www.youtube.com/watch?v=I-GYSbGMStA
samkps
post Dec 1 2015, 11:51 PM

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QUOTE(Longshot @ Dec 1 2015, 05:48 PM)
Bro lai,
Me ikan billis oni.. investing oni a quarter million in Semenyih...
Bro Sam, Bro Jason, Bro Lucky all much more confident investing millions in Semenyih SEH and EM.

They got more confident then me...
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Me kicikmiao only... I am in a much lower league if compare to Jason taikor, lucky taikor and longshot taikor ler... sweat.gif sweat.gif
samkps
post Dec 3 2015, 09:29 AM

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QUOTE(sampks @ Dec 2 2015, 12:53 PM)
OMG
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hehehe... brows.gif brows.gif

http://www.fz.com/content/rafizi-pr-hopes-...aste-management

http://www.c-competencies.com/projects.html

This post has been edited by samkps: Dec 3 2015, 09:29 AM


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samkps
post Dec 3 2015, 09:31 AM

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QUOTE(d0j0b @ Dec 2 2015, 09:04 PM)
Very dissapointed with SPS workmanship. Sigh.  cry.gif
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As expected.. Just do the defects rectification... 2+1 years warranty.. brows.gif brows.gif
samkps
post Dec 3 2015, 09:33 AM

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QUOTE(lai_dm @ Dec 2 2015, 01:20 PM)
this is no good

they already fixed the location ka ?

the rubbish truck in and out really annoying
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Pretty sure will be near to the current existing one.. in Sungai Lalang...
samkps
post Dec 3 2015, 09:36 AM

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QUOTE(c_square @ Dec 2 2015, 03:13 PM)
hi all, can i know what is the stakeholder sum? who pay to who? i was told by the developer my unit is pending on the stakeholder sum to be paid. what is this about? thanks.
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Bank pays to lawyer, for warranty purpose.


http://www.hba.org.my/laws/housing_reg/2002/Schedule_G.pdf (page 19)
samkps
post Dec 3 2015, 10:36 AM

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QUOTE(Skyvi @ Dec 3 2015, 09:42 AM)
Pallida, pilosa unit quality acceptable? Seems later one Argentea, angusta a lots of complaint...
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SP Setia's contractor workmanship really so so only. Finishing not tidy for sure, though no major defects for both of my units so far. sweat.gif sweat.gif
samkps
post Dec 3 2015, 10:39 AM

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QUOTE(gtfan @ Dec 3 2015, 10:31 AM)
Oklar....not so bad. It's pretty deep into sg lalang area.

Although i recall there's a bungalow development around that area which you posted many months back. Now this could impact the property if the recycling is nearby to it.
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Mansion 88, Country Garden and the upcoming Sime Darby project shall be affected I suppose.
samkps
post Dec 3 2015, 10:43 AM

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QUOTE(gtfan @ Dec 3 2015, 10:38 AM)
Oklar...2+1 year warranty. Defect is pretty common nowadays among new houses. Some buyer are lucky with minimal defect, some are many (depends also how fussy the owner). I know some even bring those water level ruler to make sure wall is super straight (now that i can assure most wall will fail...hahaha).

As long as the defect rectification is done in proper manner and quick turnaround, it should be good.

By the way, do you guys realise for apartment buyer (Dcassia or Dcerrum), the warranty is only 2 years ? That's what the lawyer told me during the signing of SPA.

One thing about the Merrum house youtube which Sam posted, i must says the stair railings is cheap looking for a semi-d house costing a mill.
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Agree, the staircase railing really looks cheapskate... sweat.gif sweat.gif

First thing to do in the reno list would be this.. sweat.gif sweat.gif
samkps
post Dec 3 2015, 11:04 PM

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Tree of life.... drool.gif drool.gif drool.gif


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samkps
post Dec 3 2015, 11:33 PM

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QUOTE(smudger14 @ Dec 3 2015, 11:29 PM)
I saw big add at mrr2 near pandas indah advertising Floris showhouse. Is it ready? Coz the ad said so
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Sat... rclxms.gif rclxms.gif

I thought only have fragrant perfume, fragrant rice... but now have fragrant show house... sweat.gif sweat.gif

This post has been edited by samkps: Dec 3 2015, 11:36 PM


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samkps
post Dec 3 2015, 11:41 PM

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QUOTE(Jasoncat @ Dec 3 2015, 11:39 PM)
Fragrant show house! Wow!!!
Must spray perfume to get into the show house tongue.gif
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After come out from the show house, you will have a fragrant smell.. tongue.gif tongue.gif
samkps
post Dec 6 2015, 08:21 PM

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QUOTE(tnang @ Dec 6 2015, 04:58 PM)
Finally small kicimau at ecohill, signing today.
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Congrate... rclxms.gif rclxms.gif
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