Hi. I already sign s&p with the lawyer last month. Then last friday the lawyer guy called me and tell me that after thorough check, the owner(seller) was a bankruptcy. So, we cannot proceed with the purchase.

I need to know, do i get back all my money? My 10% down payment, and s&p legal fees, bank loan legal fees??

I read before, i will get back all the money, because the lawyer will charge the owner(seller). But i couldnt find back any info just now. Hope you guys can help me..

The property agent keep asking me to just buy another house he got, but far away than the place i wanted. I dont wish to proceed. Will i get back the 10% deposit, and all the legal fees? Its a big amount

you mean the seller is bankrupt be he sells his house?

shouldn't your law firm do some d&d before signing s&p?

how come last stage only know?

Yup the seller is bankrupt. But he try to sell his house. Idiot right?

yeah..seems fishy..possible to sell house when he is already bankrupt in the first place...

They only checked about seller status after i signed the s&p..
Will i get back my money?

hmm..can you? i thought bank will take back the house for lelong?
btw..im not sure..maybe some expert can advise on this...

You pay the down payment to lawyer or seller?

They only checked about seller status after i signed the s&p..
Will i get back my money?

They only checked about seller status after i signed the s&p..
Will i get back my money?

did you ask the agent to refund? you can try to insist u wan your deposit back..

The first step before sign S&P or even start legal procedures is Bankruptcy check which is around RM30-50. This is a must. If your lawyer didn't even do this, sue him or her for malpractice. Get another lawyer on board.

If the money already paid to the seller who is now currently bankrupt then you have to file a claim but as with all other creditors you now have a certain amount of claim toward the properties of this person.

Then a trustee will liquidate his assets for example the house you think you bought but was actually probably still owed to the bank, and then the trustee will distribute the proceeds as evenly as possible.

3% deposit to property agent. Then balance 7% to lawyer.. And paid 8k for s&p legal fee, bank loan legal fee to the lawyer also..

Will i get back my 10% down payment and 8k legal fees?

If not yet issued to the vendor, should be no problem to recover all amounts. You have to be firm and quick with the agent and also the lawyer to return everything. I'd quickly hire another lawyer to sort out.

oh dear...this is a mess

if the money has been passed on to the seller, your chances of getting it back is most likely
going to be tedious ..if at all possible...remember this seller is a bankrupt

Once signed normally the 10% is paid straight to seller..

so my question is whether your lawyer has been negligent in this case? why was this bankruptcy status
only known so late in the process? normally its done right at the beginning after booking fee is paid...
booking fee held by agency...lawyer has 14 days to do the bankruptcy check..if bankrupt, then money held
be agency wl be returned to you and case aborted..

or was the seller made a bankrupt only recently?

go ask your lawyer, when did they check on the bankruptcy case?? why was this not done earlier during the 14 day
period after booking?

Will ask the lawyer. So sad la things happened like this. Ya lo, if they checked earlier and found that the seller was a bankruptcy, no need to prepare all the s&p and wasting my time and annual leave. Idiot

I totally agree.
keep chasing the lawyer & the agent & the seller to return u the money

At the same time
1. Report to Bar Council on the lawyer & lawyer firm
2. Report to BOVEA too. Www.lppeh.gov.my BOVEA is a governing body for registered agent, REN & estate agency. Your agent/REN should not claim his fees. CC to the agent/REN & his agency.

Thanks..

The bankruptcy check / dd should be done by the Lawyer before he prepares the s&p or after i signed the s&p?

And i didnt pay my valuer yet.. I already signed the s&p.. Do i have to pay the valuer? Or they should claimed to the bankruptcy seller?

By the way, someone butthurt and reported airtawarian post. Nothing wrong with the post. Why reported? Must be so butthurt.

Thanks..

So the bankruptcy check / dd should be done by the Lawyer before he prepares the s&p yeah? I dont know whats wrong w my lawyer.

And i didnt pay my valuer yet.. I already signed the s&p.. Do i have to pay the valuer? Or they should claimed with the bankruptcy seller?

I think someone is going to cover & protect somebody in this industry be they as an agent or a lawyer in this particular case. I think the moderator should reveal those who has reported the matter and the right to reply by the messenger. Perhaps whatever i stated is the truth and hence the butthurt

Nothwithstanding the above, Any advocate & solicitor would have done due diligence prior to signing any documents. With regard to valuer, you can charge to the person who is contributorily negligence in the first place.