Property Auction - Lawyer?, First time Auctioner
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 Dec 24 2016, 08:40 AM, updated 9y ago
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#1
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Junior Member
441 posts Joined: May 2006 From: Selangor   
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Hey Guys,
I just won a property auction and upon winning I was told that I would not require a Property Lawyer for S&P but only the Loan. Is that true? If so, what's the process like? Sorry, first time buying a property from an auction. |
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Jan 4 2017, 01:00 PM
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#2
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Junior Member
195 posts Joined: Nov 2009
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QUOTE(aaronoid @ Dec 24 2016, 08:40 AM) Hey Guys, Did you found out what the process is?I just won a property auction and upon winning I was told that I would not require a Property Lawyer for S&P but only the Loan. Is that true? If so, what's the process like? Sorry, first time buying a property from an auction.  |
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Jan 7 2017, 08:56 PM
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#3
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Senior Member
1,251 posts Joined: Jan 2012
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QUOTE(aaronoid @ Dec 24 2016, 08:40 AM) Hey Guys, You need to do both for transfer of your property (MOT Form-14A). The SPA will be replaced by POS/COSI just won a property auction and upon winning I was told that I would not require a Property Lawyer for S&P but only the Loan. Is that true? If so, what's the process like? Sorry, first time buying a property from an auction. This post has been edited by airtawarian: Jan 7 2017, 08:57 PM |
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Feb 11 2017, 01:01 PM
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#4
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Junior Member
145 posts Joined: May 2013
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QUOTE(airtawarian @ Jan 7 2017, 08:56 PM) You need to do both for transfer of your property (MOT Form-14A). The SPA will be replaced by POS/COS in that case, is it still need to pay stamp duty & legal fees of SPA to lawyer?the total of legal fees for all is same as buying sub-sale? |
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Feb 11 2017, 06:06 PM
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#5
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Senior Member
1,251 posts Joined: Jan 2012
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QUOTE(isonic @ Feb 11 2017, 01:01 PM) in that case, is it still need to pay stamp duty & legal fees of SPA to lawyer? there is no SPA involved. Yes you need pay stamp duty & legal feesthe total of legal fees for all is same as buying sub-sale? |
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Feb 13 2017, 12:45 PM
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#6
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Junior Member
145 posts Joined: May 2013
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QUOTE(airtawarian @ Feb 11 2017, 06:06 PM) there is no SPA involved. Yes you need pay stamp duty & legal fees means the only difference is SPA replace by sales contract,buyer still need to pay the same amount of money  Thanks alot |
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