Aug 6 2021, 10:55 AM
QUOTE(patrickthissen @ Aug 6 2021, 10:14 AM)
Hi all, I bought a condo and got the key on Oct 2019.
Recently speaking with my brother and we talk about MOT.
Usually when we need to pay the MOT? (Miss out this unexpected money
)
I knew it cost quite a lot depending on SPA value.
Once the developer issued notice, owners are advise to execute the transfer soonest possible.Recently speaking with my brother and we talk about MOT.
Usually when we need to pay the MOT? (Miss out this unexpected money
)I knew it cost quite a lot depending on SPA value.
The disadvantage is you do not 'legally' own the property under your name. You need to proof ownership via SnP when in normal circumstances, a title in your name suffice. Some may not 'trust' the SnP and lawyers and or bankers will normally seek written confirmation from the developer.
If you do not execute together with other owners, you may face delay or 'complications' when you decide to do it later. The lawyer handling it or the developer may not be around anymore and nobody knows what is happening.
Without the title and if the developer is no more in business, you will face complications to sell the property. Selling a property with title ready for execution and not done by the seller normally takes longer time to be completed.
If you have not budgeted for it, maybe you can consider taking a PL to cover it ....a suggestion.
The options are for you to decide. Is what level of inconvenience you want to handle later.
This post has been edited by mini orchard: Aug 6 2021, 11:10 AM
Quote
0.0181sec
0.43
6 queries
GZIP Disabled