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 Strata title for subsale, Process?

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AskarPerang
post May 7 2017, 03:03 PM

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QUOTE(ilovestitch @ May 6 2017, 10:40 PM)
I have decided to go for a subsale condo unit. Current owner has made the strata title registration, and is currently in progress (According to the lawyer).

What i heard from lawyer:

1. Strata title registration usually take 2 to 3 months
2. After the strata title successfully transferred to owner's name (probably after i have signed the S & P), they will proceed to make a transfer to be under my name, and this service has been charged as legal fee.

My concern:
After i have signed the S & P, and has paid all the fees to lawyer, will the lawyer still bother to help me transfer the strata title? or will they delay or hanky panky, as payment dy received by them?
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You mean the condo is still under master title and now in the process of getting the strata title?

If yes, then you are in luck. Well, unless you really want to get the unit ASAP.
AskarPerang
post May 8 2017, 02:39 PM

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Bro, you lock in at today pricing. Current price.

I tell you the seller is the one rugi at the moment. Normally property with strata title will get a price jump. You better lock it.

And no. It wont be so easy settle within 2-3 months. Can be 6 months to 1 year long. But as I mention above, you are paying nothing yet on the loan repayment during all those waiting period.

Yes, property not able to change hand at this moment. So all you have to do is wait for the strata title to be issued.

You are buying now but start paying next year with a possible price increase. It's best that you find legal ways so that the owner not able to back up from selling now.
AskarPerang
post May 9 2017, 10:56 PM

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QUOTE(ilovestitch @ May 9 2017, 08:44 PM)
"the obtaining process has to be completed"? From what i know, the seller can cancel the transfer anytime and get the refund to save cost.

I have check with the developer, they indeed allow for direct transfer, my concern is now the owner already found the buyer(me). If he really cancel the transfer of strata title, does the MOT i paid for SNP include the transfer of strata title as well? If this is the case, i dont need to worry even if the current owner cancel the strata transfer?
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Transferring from master to individual strata title is done by one whole group. It is not possible that the owner want to pull out from doing it. If pull out, then what will happen next time? Who gonna do for you?

Sign and lock the unit at current price. The process will take a long time. Do not share lawyer with the owner. As long as you got your lawyer, you will be on the safe side and also to make sure the owner not pulling out from the deal.

There are people out there who actually hunt for this kind of property to buy. Especially on owner not knowing that their property is in the midst of getting the strata title. End up the deal will be stuck for 1 year for example. Let's say 2018 only settle. Buyer happy cos buying in 2018 at 2017 price. Seller unhappy cos selling in 2018 at 2017 price. Haha. laugh.gif
AskarPerang
post Feb 6 2019, 03:54 PM

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QUOTE(areankim @ Oct 8 2018, 09:36 AM)
Exactly my situation where
1) Leasehold, Starta, Developer very alive, Location Selangor
2) Starta issued, owner nv do perfection of transfer(reason: if want to sell no need do laaaaa)

Now I'm stuck to buy or not
1) If allowed direct transfer, higher cost on me
2) Not allwed direct transfer, so have to do double transfer,pocessing time gonna be very loooooong...

Was told, double transfer only applicable to freehold, leasehold has to wait 1 after another
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QUOTE(hanhanhan @ Oct 8 2018, 10:42 PM)
1. direct transfer charges is borne by seller, not buyer
2. yes, double transfer only applicable to property without restriction in interest (sekatan kepentingan). doesn't have anything to do with freehold/leasehold.
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Developer
1st buyer = current owner
2nd buyer = new buyer

As my understanding,
Direct transfer if developer allow, is from developer can transfer name direct to 2nd buyer. So indirectly the 1st buyer save up the MOT cost.
Double transfer (if developer doesnt allow direct transfer), is need to complete the strata title perfection process from developer to 1st buyer. Then after that from 1st buyer to 2nd buyer.

Applicable to freehold and leasehold property. Same scenario as above.

Is that right?
AskarPerang
post Feb 13 2019, 10:15 PM

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QUOTE(hanhanhan @ Feb 8 2019, 12:48 AM)
Yes correct.

The general misconception is freehold = no need consent, leasehold = need consent

What u should look for is restriction in interest /sekatan kepentingan. If there is, then need consent.

Some freehold got sekatan, some leasehold don't have.
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Hi, would like to clarify case scenario as below:

Freehold no restriction unit (medium cost apartment)
Strata issue but owner did not perform perfection yet

This required consent from developer to do direct transfer?
If developer not agree, then have to do double transfer,
from developer to first owner,
and then from first owner to new buyer.
Is that correct? Even for freehold property.

The only different is no need to request consent from the local authority (as compare to if this unit is leasehold).
Wandering is my understanding correct.
Thank you.
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