HI all,

So my husband just booked a subsale condo unit (freehold) and as of now, we are in the midst of applying for loan. However, upon handing over all documents to our banker, he requested for standalone strata title.

When I checked with the agent, she said the owner haven't claimed it yet despite the title is out. The owner merely told the agent that I could claim the title later directly with the developer.

1) So assuming that my bankers would still need to see the strata copy and if the owner/agent couldn't produce it in time, could I simply ask the agent to refund my booking fee?

2) What if later on, the developer do not agree for double transfer? Who's going to bear all the penalties, MOT, stamp duty etc.?

3) What if the developer is no longer around? This property is 20++ years old

Any other things that I should be concerned about? The clock is ticking for me to get the loan approved and now this strata title issue pops out. 

Thanks!

Is NOT purchaser's obilgation to request for title or direct transfer from developer. If seller cannot produce title or has permission for any transfer, then the booking / SnP is void....similar to consent for leasehold title.

Ok noted - thank god I chose my own banker and in worst case scenario, I am going to ask him to give me a loan rejection letter...
In that case, will it affect the loan disbursement process and/or in me getting the keys?
That's assuming that the previous owner is still around and/or helpful enough :/
Ok.

My agent said that the lawyer will deal with developer to find out if the title can be transferred directly/double transfer (and this also means that my loan needs to be approved first since she insisted that the lawyer will deal everything later on)

Same question as I asked above to a different poster - will this title transfer thing affect my loan disbursement and/or getting the keys? Will the loan only be disbursed once the title had been fully transferred to my name?
But who will bear the admin fees then? 

18 months? oh my...
So that also means that the loan disbursement will be delayed to the seller? Else seller will benefit from this and I would have to wait until the title is perfected..
The agent is insisting that the lawyer will deal with all this (she basically wants my loan to be approved!)
However, I did my own R&D and seems that I can't find any info on the developer.. they've been around since 1980 and I doubt they are still around.. that means that the title issue had to be done by a liquidator
Agreed, but as of now, I can't find any info on the developer.. so chances are, they've already went kaput and this title transfer issue had to be done by a liquidator...

Tell the agent the bank insist the strata title copy.