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Let's Talk Properties. The Q&As, What would you like to know?
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shaoching
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Nov 5 2020, 04:51 PM
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would like to ask, after the SPA for subsale enforce, I have 3months until the bank fully drawdown to the vendor. however, my lawyer keep on telling me in process and they cant control 3rd party (such as developer/bank/authorities side)
how if the SPA is due and im subjected to penalty even its not my fault? as I keep on pushing the lawyer but he's like tak apa…..
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shaoching
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Nov 5 2020, 10:44 PM
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QUOTE(YeohKW @ Nov 5 2020, 08:40 PM) Hi. sorry for the late reply. Normally we (REN) will help buyer to follow up on the cases. While we cant control all parties, we always ask for the latest updates so we can keep all parties updated. For vendor, what they want to know is that there's no delay from purchaser and should there is any potential of delays due to unforeseen circumstances, we are able to detect it before hand and inform vendor accordingly. If really "touch wood" delay, we will help purchaser to convince vendor not to charge on the penalty. <<< this is when you deal with REN. But in the event you buy directly from vendor, then the person you can rely upon is your lawyer. As they are representing you, they will have to prioritize your best interest. They will have to make sure that they try their best to avoid any penalty. In normal situation, 3 months should be sufficient for drawdown. But sometimes if there's a lot of transactions in land office, there might be some delay. Your lawyer might not able to control them, but they can always check with relevant parties to ensure there's no delay. You mentioned you keep pushing the lawyer, but most of the times, it's the legal clerk or admin clerk who do the job. maybe you can check with your lawyer and ask who is the one in charge of your case? Then instead of pushing your lawyer, you can follow up with the person in charge of your case. Treat he/she nice and ask for help ... Hi. Thanks for kind reply. May i know what mean by REN? Im at the purchaser side. As its almost left 2weeks until the due date, my lawyer juz told me now they are sending the DOA to developer for endorsement. And im the one who always text the lawyer to ask for update. He just keep telling me in process. May i know 2weeks are sufficient until the handover?
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shaoching
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Nov 6 2020, 03:51 PM
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QUOTE(YeohKW @ Nov 6 2020, 02:27 AM) REN = Real Estate Negotiator, a person hired by A real estate agency to represent the agency in works related to real estate transaction such as buy sell or rent. The actual meaning for Real Estate Agent in Malaysia means the license holder of the agency. As I’m based in KK, there might be different in the timeline for process.. may I know if the property your are buying are still under master title or strata/individual title already? Did you ask your lawyer if he can get it done before due date? Or if not, how will he help I’m not getting u to pay any penalty? the only answer that I always get from the lawyer was : Reply from bank, lhdn and developer is not within our control.
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shaoching
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Nov 6 2020, 04:12 PM
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QUOTE(YeohKW @ Nov 6 2020, 04:08 PM) hmm... your lawyer really... you bought it through agency or direct to owner? Who is this lawyer? Someone you know personally? through agent. but the lawyer I seek outside myself from internet.
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shaoching
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Nov 6 2020, 06:17 PM
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QUOTE(mini orchard @ Nov 6 2020, 06:10 PM) Lawyers are cautious when dealing with those three lest he is blacklisted. He still needs to carry on business after your case being 'settled', so offending others is last. If you need something quick, you have to do the work. Otherwise, the lawyers will do a courtesy follow up ...nothing to the extend of how you will talk when you are 'angry'. hi,may I know what kind of work I need to do from myside beside folo up frequently with my lawyer>?
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