Inquiry about MOT &MOC (new strata titles 2016)

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Inquiry about MOT &MOC (new strata titles 2016)

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hanhanhan	Apr 23 2018, 01:04 PM Return to original view \| Post #1
(͡ ͡° ͜ つ ͡͡°) Senior Member 1,205 posts Joined: Oct 2006 From: Kuala Lumpur	» Click to show Spoiler - click again to hide... « QUOTE(JASON_01 @ Apr 21 2018, 11:38 AM) Hi all, I would like to inquiry about charge of MOT & MOC. Regarding to THE STRATA TITLES (AMENDMENT) ACT 2016, do i need to pay MOT & MOC after get VP? cause my condo is still under construction and completing by end of this year/ 1st quarter of 2019. based on my simply calculation and MOT & MOC cost around RM18K++... i need sifu help izit must pay MOT fee first after VP even though is still under master titles or it should wait after few year when developer transferred master title to strata title only pay it? Usually how long period to transfer the strata titles? Cause i not understand about the new amended strata titles act 2016. when i ask lawyer and this lawyer seem like junior (Developer lawyer) and quite blur and cant give exactly answer. My estimation calculation as following below: Purchase Price: RM650,000 A.) MOT: Stamp duty 1st (1% X RM100K) = RM1,000 Next (2% X RM400K)= RM 8,000 500K+(3%XRM150K)= RM 4,500 __________________________ MOT Stamp Duty = RM13,500 __________________________ B.) MOT Legal Fees: 1st (1%X RM500K) =RM5,000 Next (0.8%X RM150K) =RM1,200 ___________________________ Total legal fees = RM6,200 (Discount 75%) = RM4,650 ___________________________ Total legal fees = RM1,550 ___________________________ C.) Others Disbursement fees = RM 1,000 (Estimation) ___________________________ Total fees = RM1,000 ___________________________ MOT= A+B+C = RM16,050.00 D.) MOC (Bank charge): 1st (1%X RM500K) = RM 5,000 Next(0.8%XRM150K) = RM 1,200 ___________________________ Total MOC = RM6,072 (Discount 75%) = RM4,650 ___________________________ Total MOC = RM1,550 ___________________________ E.) Others: Disbursement fees = RM500 (Estimation) ___________________________ Total Others = RM500 ___________________________ MOC= D + E= RM2,050.00 TOTAL PAID: A+B+C+D+E= RM18,100.00 you'll only need to pay the MOT & MOC charges only once the title is issued. how long is the period is subjective.. usually between 2-4 years after VP (for cases prior to 2015/2016) for newer projects should be faster.. within 1-2years after VP (or sometimes even upon VP) but this new scenario yet to encounter because it affects residential projects launched approx after 2016 (under the new HDA S&P).
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hanhanhan	Apr 23 2018, 02:23 PM Return to original view \| Post #2
(͡ ͡° ͜ つ ͡͡°) Senior Member 1,205 posts Joined: Oct 2006 From: Kuala Lumpur	» Click to show Spoiler - click again to hide... « QUOTE(hhho @ Apr 21 2018, 03:43 PM) How to qualify for 75% discount of legal fee ? You are sure of no 6% GST? Please share with us. Thank you. if you use the same lawyer who did ur SPA, u will get 75% discount on lawyer fee for MOT & MOC if use diff lawyer then is 50% discount.
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hanhanhan	Apr 23 2018, 05:31 PM Return to original view \| Post #3
(͡ ͡° ͜ つ ͡͡°) Senior Member 1,205 posts Joined: Oct 2006 From: Kuala Lumpur	» Click to show Spoiler - click again to hide... « QUOTE(JASON_01 @ Apr 23 2018, 05:06 PM) If the project is launched on 2015, start selling on 2016, izit consider under new HDA? when i signed on S&P on Mar'18 which under master title and i paid approximately RM4k++ for stamp loan & disbursement fees. if really get titles upon VP then i have to pay MOT immediately? plus i need pay more for MOC even is use same lawyer to get 75% discount (began paid 4K on loan stamp & Disbursement). Sound like not worth to buy undercon as need pay more for hidden cost...if developer did not provide free for S&P agreement during undercon, it will more costly its not hidden cost, it's just that property buyers are not properly informed on the total costs involved. if launch in 2015 it's very likely it'll be under old HDA. so expect the title to be out maybe 2-3years after VP. even if the title is out, by law you're supposed to transfer the title within 30 days the title is issued. however in practice majority of owners will delay until they have enough cash on hand to do the transfer. There is penalty for delaying the MOT transfer but so far i've yet to encounter anyone kena before.
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hanhanhan	Apr 24 2018, 12:52 PM Return to original view \| Post #4
(͡ ͡° ͜ つ ͡͡°) Senior Member 1,205 posts Joined: Oct 2006 From: Kuala Lumpur	» Click to show Spoiler - click again to hide... « QUOTE(JASON_01 @ Apr 24 2018, 09:26 AM) Thx for your info...i think im gonna die cause didn't expect need pay MOT & MOC within 30days when get VP...i think my case is may same as above posted. my lawyer seem like blur when i asking about this issue cause it is developer lawyer and this lawyer is junior (may not experience)... in practical sense, there are 80-90% purchasers delay this. even if u delay more than 30 days.. or 1 year.. so far nobody kena penalty before. so u can just chill and relax, spend ur money on furniture and reno first.. transfer title can come later (but dont wait too long later developer zaplap then u lagi jialat).
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hanhanhan	Apr 25 2018, 10:30 AM Return to original view \| Post #5
(͡ ͡° ͜ つ ͡͡°) Senior Member 1,205 posts Joined: Oct 2006 From: Kuala Lumpur	» Click to show Spoiler - click again to hide... « QUOTE(JASON_01 @ Apr 25 2018, 08:48 AM) Ya... I hope developer will be delay for few year as i purchase for own stay instead of investment. when i sign S&P that lawyer told me is following new strata titles act 2016.. but another lawyer told me is under old act since is launch on 2015. developer gt 2 panel lawyers....confusing check clause 30(4).. does it mention "developer lawyer" and state the lawyer name there. if it does, then it's under new HDA. strata act and HDA is different thing.
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hanhanhan	Apr 25 2018, 03:36 PM Return to original view \| Post #6
(͡ ͡° ͜ つ ͡͡°) Senior Member 1,205 posts Joined: Oct 2006 From: Kuala Lumpur	» Click to show Spoiler - click again to hide... « QUOTE(JASON_01 @ Apr 25 2018, 02:18 PM) what is mean by New HDA? seem like many things have to learn it cause im newbie and first time buy it >< HDA means "housing developers act" All residential property under construction in malaysia will have to use a standard HDA contract fixed by government. Most common ones are Schedule H (for strata) and Schedule G (for landed). Old HDA allows developer to build and sell first, then submit the strata plans to land office for subdivision later on. Contracts under the old HDA usually allow developer to 'give X amount of parking to a unit' but let u know the location upon VP. Another example would be allowing selected customers to purchase extra car parks for their unit. Reason being is that they can still do this as the strata plans need not be submitted so early. New HDA forces developer to come up with a schedule of parcels and allocated share units (these are rather technical terms so i'll just refer it as strata plans) even before they can sell the unit. Means properties under new HDA they'll have to fix car park lots (means car park bay XXX is for unit XXX and cannot be changed) and finalized before they can start selling. Since contracts under new HDA forces developer to submit these strata plans at an early stage, it's logical that the strata title could be issued faster than contracts under old HDA (whereby they can submit those plans later on). Therefore contracts under new HDA will never have "switch car park", "exact car park lot will let u know later" or "buy extra car park" situations. Although new HDA came into force in 2015, there are several exceptions that allow a developer to use old HDA for their projects (usually latest is until 2016/2017).
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hanhanhan	Jun 4 2019, 12:28 AM Return to original view \| IPv6 \| Post #7
(͡ ͡° ͜ つ ͡͡°) Senior Member 1,205 posts Joined: Oct 2006 From: Kuala Lumpur	» Click to show Spoiler - click again to hide... « QUOTE(Bobby988 @ May 31 2019, 04:30 PM) Hi sifu, I would like to know, am I entitle MOT waiver or MOT 50% discount? Which date should I refer to? My first property : SnP date on Dec'16 / VP on Jul'18 SPA is under schedule H of the HDA SPA value : RM644,500.00 Loan amount : RM580,050.00 A.) MOT: Stamp duty 1st (1% X RM100K) = RM1,000.00 Next (2% X RM400K)= RM8,000.00 500K+(3%XRM144.5K)= RM4,335.00 MOT Stamp Duty = RM13,335.00 B.) MOT Legal Fees: 1st (1%X RM500K) = RM5,000.00 Next (0.8%X RM144.5K) = RM1,156.00 Total legal fees = RM6,156.00 (Discount 75%) = RM4,617.00 Total legal fees = RM1,539.00 C.) Others Disbursement fees =Estimation RM1,000.00 Total fees = RM1,000.00 MOT= A+B+C = RM15,874.00 D.) MOC (Bank charge): 1st (1%X RM500K) = RM5,000.00 Next(0.8%XRM80.05K) = RM640.40 Total MOC = RM5,640.40 (Discount 75%) = RM4,230.30 Total MOC = RM1,410.10 E.) Others: Disbursement fees = Estimation RM500.00 Total Others = RM500.00 MOC= D + E= RM1,910.10 TOTAL PAID: A+B+C+D+E= RM17,784.10 follow SPA date. As your SPA date is in 2016, there are no discount/waivers for you, as if i'm not mistaken the maximum S&P price to be qualified for MOT discount is RM500k.
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