This is from my previous topic -> Advise on selling house

So i have already a potential buyer (booking fee paid to the lawyer) and want to proceed with loan application.

The thing is my leasehold for the property is only 60 years which is until 2059.

So to do the leasehold extension, i need to settle my MOT from the developer and pay the lawyer around Rm7k.

I understand this MOT must be settled by myself, and also the buyer later to pay his own MOT.

The purpose of this extension also to ease my buyer's loan application from the bank.

Please advise if i am on the right track of selling this house.

Thanks.

Lease extension and transfer of lease interest are two different thing.

If is lease interest, you or your lawyer have to write to the state govt to seek consent for transfer. Once approval is given, then the remaining terms of the SnP can only proceed with the remaining 60 years.

If consent is rejected and also after appeal, the booking money have to be returned to buyer and SnP is aborted or terminated.

You have to pay the mot first and transfer the title to your name b4 applying for consent.

This post has been edited by mini orchard: Apr 27 2022, 09:24 AM