Normally there is no need to wait for the title to be registered.

The normal process will be to redeem the existing loan (if any), get back the title and forward the same (together with the discharge, if applicable) to the purchaser's loan lawyers.

Purchaser's loan lawyers will then present the transfer and charge at the land office for registration and will obtain a presentation receipt. They will then advise the bank to release the loan/balance loan to the seller's lawyer as stakeholder with the presentation receipt.

Keys to be handed over and sellers will then release the monies held by them as stakeholder to the seller (normally upon expiry of 14 days from date of presentation) and not after title registered in the name of the purchaser.

However, do refer to your SPA as it can differ from case to case. If it is stated that the balance monies can only be released to the seller after title is registered in the name of the purchaser, then seller will have to wait lahh.

Depends on land office and type of title.

If selangor for landed properties about 2 weeks to 1 month. If strata about 6 months or more.

If kl for landed about 1 to 2 months, if strata 1 to 2 months also.

Could be slower or faster. Depends on officer also. Last time selangor strata very fast, but one of the heads got transferred to kl, so now terbalik. Kl faster, selangor slower.

This post has been edited by jason1986: Dec 16 2015, 06:04 PM

Yes, purchaser can apply for a loan without spa signed. Normal docs required from seller will be the offer to purchase, copy of title and copy of previous spa. The rest will be their pay slips etc.

Normally, purchaser will be the one to request that the purchase be subject to loan approval because if loan not approved, they will be able to get their earnest deposit back. Seller should ensure that time frame stated if agreeable to purchaser's request. 14 days should be fair and reasonable.

Once loan approved, then proceed to sign spa and pay the balance deposit.

For properties where title is issued, remaining 90% will normally be paid within 3 months from date of spa (no restriction in interest endorsed on the title) or date of consent being obtained (if there is a restriction in interest endorsed on the title). Automatic extension of 1 month subject to payment of interest.

It is advisable to appoint your own lawyers unless you are familiar with the terms and conditions and able to nego on your own.

This post has been edited by jason1986: Dec 16 2015, 08:36 PM

Basically if letter of offer does not state that the offer to purchase made by the purchaser is subject to loan, you have the right to forfeit the earnest deposit paid if he fails to execute the SPA (be it for reason of loan not being approved or otherwise) within time frame given.

If SPA has been executed and you have fulfilled the conditions precedent and yet he fails to pay the balance purchase price within the time frame provided, then you have the right to forfeit the deposit paid.

I will leave it to you to draw your own conclusions and decide whether to have the SPA signed first or not.