Thank you for the advice!

Hi Yeoh, I signed my SPA around early of April, but the bank has not release the loan to the developer. I asked the agent and he said that the letter of instruction has been sent, just pending the bank to release it. Is it normal to take this long (3 months)? Thanks!

The right person to contact is the bank loan officer whom you have dealt with during the application and aprroval.

hi..

it depends on when they send the letter of instruction.

not new property
house for sale up to 8months now
current tenant still living in the house

my question is, why would the owner put it up for sale but still live in it, and living in it up to 8months (at least). If they have another place, why are they not in the new place instead?

So I am curious as to why would one put place for sale for so long, yet still lives in it, and not their "new" place?

There could be many reasons. This is something only the owner can answer. Some might be sad and touching stories too.

yea but what could be the most reasonable?

If its financial...they could still afford the last 8months + the multiple vehicles in it

each vehicle could be half the cost of the house (1mil+), multiply by 4 vehicles that i saw....

and 1 of those vehicle yearly roadtax is total price of my ONLY vehicle

As long the offer from a buyer doesnt meet seller's requirement, the property will not be sold. Doesnt mean that the seller must sell just because he put it up for sale.

In shorter explaination ....willing buyer seller.

This post has been edited by mini orchard: Jul 13 2021, 08:05 AM

Well.. I met a client who selling because they want to downgrade to a smaller property for retirement. They knew that their current property not easily sold due to the higher market value, and since they do not have any intention to sell too low, they just wait until the right offer came. Once they manage to sell it, then they will buy another with cash.

This is just one example. There are a lot more different story too.

But like what Sifu Mini orchard say, willing buyer willing seller…

Hi Yeoh, would like to know can we submit for LAD, if the developer issued the letter of VP, but not giving us the keys?

Hello all sifus,
Im planning to buy my first new landed house, just wanna ask if you guys think the HOC will be extended this year? Or really confirm going to end by looking at how the economy starts to recover?
I don't wanna rush into things, but also quite gan jeong because HOC saves a lot of $$$$.

Hi. How long has it been since they issue the VP?

There has been some speculations about this. Some said will extended to June 2022, while so,e said will not. U til then, I think we can just hope for the best for now

We got notified by bank the loan reimbursed to developer on 24 September, after reminding them that they have 7 days, according to SPA, to hand over the unit, they issued a VP LETTER on 30 September, and starts charging us the security fee, maintenance charges starting from 30 September itself. Now, the question is what does VP mean in real? IF the developer issued a written VP, but unable to deliver the keys, giving all sorts of nonsense excuses, does that considered as they are free from LAD?

Ok. VP basically means that your property is ready for collection. The CCC has been issued, water and electricity ready for application to connect and all outstanding payments due to developer are paid for.

May I know what type of property you bought? Residential or commercial titled? Individual or strata titled?

And you mentioned developer giving all sorts of reasons.. what.I know what reason they gave you? Did you check with the SPA lawyer on this matter?

It's landed terrace, residential titled, strata free hold.

OK, now we have got our keys last Saturday. I was informed by the key handing personnel, the actual, real reason was they misplaced 2 of the main glass door keys to the house, 1 glass door in front, 1 glass door from the back yard. in order for us to get into the house now is via the wooden door from the front, or, via the grill door from the back. Until today, the keys are still missing, we had been chasing after the developer for the keys, again, they are giving excuses like, they can't locate the keys, so they are going to change the locks, BUT, they do not have the spare parts, they are lack of man powers, the bosses are at overseas, need all 5 of them to sign for approval of stuff, etc.. I mean, from the day we placed the booking fee on 31st December 2020, until we paid the balance of deposit in February, they have months to get the house prepared for delivery, as it is already built, not under construction. So, for them to unable to deliver the keys, the loose items, like, faucet to the porch, faucet at the back yard, the kitchen sink delivered without any pipe, no faucet/tap, reason being, their contractor do not have the stock, and they can't go to any hardware shop to purchase them for me without the bosses' approval, all of those loose items I mentioned are in the SPA by the way.

The lawyer is under their panel, so they are hopeless in helping the buyers. We tried, trust me. We told them we wanted to take action since developer failed to deliver the keys within 7 days, they informed the developer and we got our said incomplete handing over process.

I just want my house delivered to me in proper, I am not here to look for troubles, I had been telling them that, but regrettably, they just don't care.

Sad to hear that. But as you mentioned, the lawyer are representing the developer hence nothing much you can get the, to do for you. You can either go to consumer tribunal to lodge a report or to the CoB if your property is strata title. If individual titles then to housing board.

However, I’m not too sure if these are applicable to the local practice in your area as I’m sharing based on our practice in Sabah.

Perhaps other individual can help out?

i just bought a subsale landed semi-d

i want to confirm/understand on the paper work process (maybe other related process on buying subsale property)


1. get a lawyer and pay 1k deposit for lawyer start working for you
2. pay 1% deposit to lawyer to book the property
3. pay 10% to lawyer, then lawyer transfer 10% to Seller
4. Buyer sign SPA (sign Facility agreement(FA) aka Loan agreement at the same time)
5. Seller sign SPA
6. Lawyer send the Facility agreement to Bank for bank to sign ( certain bank need Lawyer to key-in into bank's mortgage system as well)
7. Bank return the Facility agreement to Lawyer
8. Lawyer get SPA and FA stamped
9. Lawyer sent FA back to Bank
10. Bank instruct 3rd party Valuator to evaluate the property
11. Evaluation Report (ER) will be prepared and hardcopy will be sent to Buyer and Bank each
12. Bank's insurance company to perform checking on Buyer medical status before proceed to approve the MRTT/MLTT
13. once MRTT and ER comes bank no issue, Bank start release money to Seller's loan bank first to settle outstanding loan and the remaining to Seller's own account
14. Buyer can get key from Seller
15. Buyer need to do name changing for TNB/IWK/Water/Assessment/Quit Rent

do i missed out any steps?

add: if Buyer find own bank to get loan, need prepare 3-4 copies of needed document to apply on different banks
Buyer can find own Lawyer too, some Lawyer gives some discount and do good work

This post has been edited by flyingturtle77: Nov 9 2021, 11:55 AM

it is based on the signing date of your SPA. There should be a clause that states how many months the developer has before they will get issued with LAD.

you mentioned current tenant, is that the owner of the house or someone renting from the owner?

anyways, for most scenarios, owner is allowed to stay. it is their house and they are free to do as they please with it.