Hi. You may ask me anything related to property (real estate), estate planning and family matters

Hey there

With regards to estate planning, can a will be written up by a lay person, signed, witnessed and still be legally binding when it comes time to execute?

Also, what would be the key points to be considered when it comes to estate planning?

Cheers!

If I want buy a 275k subsale house , how much cash I need prepare ? Assuming I will loan 90%

This post has been edited by MrBaba: Aug 26 2022, 12:34 AM

can, make sure you mention all the essential personal details, including name, address correctly. Key in the full name and relationship of beneficiaries and mention the assets precisely. you can either refer to your assets generally but it is advisable to state the particulars of all your existing properties. Please ensure you have it done in the presence of two witnesses.

subject to encumbrances and the restriction on the property. you may contact me at 010-2967181 for further details

want to ask for strata title subsale
usually how long from
SnP stamp to
MOT stamp to
first disbursement to
second disbursement

Please check your SPA. Normally subsale SPA- the completion period will be 3+1. Pls be reminded not all cases are same.. for some cases, the completion period only commence after fulfillment of conditions if there is any restrictions. So all depends on the circumstances of the case.

Recently I placed 2% booking fee for a property. The seller is foreigner and trying to leave Malaysia for good. Both of us engaged our own lawyer on the spa draft. Going through 1 month+ discuss between both lawyers, both party can't agree on the spa clauses. The seller lawyer refused to agree on paying LHDN 7% when there is profit gain on the property sale.
Seller lawyer sent an email to forfeit the sale.
Currently the agency refuse to give me back my 2% booking fee. Giving different excuses when I chase him. Any way that I can claim back my 2% booking fee? Thank you

In any agreement, if both parties cannot agreed to the terms, then there is no agreement to start with. Both parties have to restore to their original position. Benefits or monies obtained to conclude the agreement have to be 'refunded'.

Instruct your lawyer to write officially to the agency and seller/lawyer stating the reasons to terminate the Letter of Intent to Purchase and request for a refund. Forward a copy to LPPEH that oversee all estate agency practises.

Is the obiligation of the seller to pay his portion on all property taxes from any gain during the disposal. Similarly, the buyer has to pay for his portion on all property taxes arising from the acquisition.

Any refund of earnest monies by estate agencies have to be in writing for record purpose and to avoid later disputes. Consent from seller is norm in agency practise for a refund, otherwise the agency will be liable for any losses suffered by the seller.

This post has been edited by mini orchard: Sep 8 2022, 09:24 AM

since lawyer is appointed, the advice of lawyer is more relevant.

just curious, why not counter suit back the seller as they cant full fill the SPA condition? because the seller is try to avoid paying tax, which is unusual .

Below is the term that the seller lawyer didn't want to agree in the SPA. The seller doesn't allow us to retain 7% from the downpayment. The seller lawyer did sent an email saying they wanted to forfeit the purchase.
"
21B(1) RPGT Act clearly imposes statutory duty on the Purchaser to retain 7% from the Deposit and pay that amount to the Director General of Inland Revenue. The Purchaser is required by law to retain the retention sum, ot is not a matter whether your client agrees or disagrees unless section 13 of the RPGT Act is applicable here.
"
There were several discusses between seller & buyer lawyer for 3-4 weeks. The agent told us that owner refused to pay us back our booking fee because we were delayed on the SPA signing. The agent said that the agency released the booking fee to the seller already, so the agency can't pay us back our booking fee, which we found it unfair. The agency wasn't replying our enquiry also. Only the agent said he will help us chase back our booking fee.
We didn't instructed the agency to release our booking fee to the owner, the agency did it on their own will.

The seller didn't want to agree our lawyer draft on the SPA, that's why we unable to finalize the SPA & get it sign. We even prepared the downpayment.
Currently our hard earned money are stuck, no idea how to get it back.

when you paid booking fee, didnt get official receipt from the agent company? if they paid to seller is their problem, the official receipt is under the agency right

sounds like scammer from the agency

Can you upload the booking tnc letter here. Delete personal and property info.

then dont retain it.

put clause to get seller to indemnify buyer & the buyer lawyer for any penalty imposed by LHDN for not retaining & paying the retention sum.

thats if ur desperate to go thru with the purchase of the house.

otherwise that isn't a valid reason to say that it's the buyer's default for not agreeing to a statutory practice

Vacant Possession but house is unfinished by my developer
currently the issues is with the tiling of the house.
they want me to take VP and claim DLP.
should i or must i take keys or should i reject and claim LAD ?

also they are also claiming some miscellaneous charges from owners before VP
is this normal or allowable ? if its normal what is the charges normally for ? the miscellaneous charges is deduct from booking fee & cashbacks

Hi,

I am a foreigner (not Malaysian resident). The property I plan to purchase is a mixed development, strata title. My confusion is that the developer is putting the SPA selling price as 980k, the bank accessed the market price to be 740k (for loan purpose), and the agreed purchase price is 730k. The agent said 980k will be mentioned on the booking form and the SPA form. My questions are:

1. Why would the developer put such a high SPA selling price when the purchase price and market price are much lower than that? The developer does not plan to change the SPA selling price.

2. Because there is huge difference between the SPA price and market price, does that raise a red flag in terms of the property? Is there something wrong with the property, is no one buying the property? The property was constructed in 2015 and has been vacant since (for 7 years). The agent said the unit was initially allocated for bumi but is now released to non-bumi and foreigners which is why it was vacant so long.

3. The booking form I have been asked to sign indicates 980k as purchase price. And a separate calculation form showing the discounts and rebates showing 740k purchase price. Since my SPA form will not show the actual purchase price, is the calculation form considered a legal form for future purposes, if needed?

Being a foreigner I am not able to find much resources online, so any advice or help will be very much appreciated!

Thanks.

1. Depending on which state you purchase the property, a foreigner buying any property in malaysia shall be subjected to tnc of each state. Each state has their minimum purchase price for foreigners, the type of property etc.

In order for the developer to sell it to you, he must meet those conditions, hence MAYBE the 980k.

2 If you are worried about the property in terms of the two below ....

i) Legality ... engage a lawyer to check on those matters before signing the SPA.

ii) Condition .... engage a property inspector to prepare a report. You need the permission of the developer to access the unit for an inspection.

3. SPA is the legal document recoginsed in msia for a transaction of sales and purchase of a property. Any terms in the booking form can be included in the SPA subject to both parties agreement. Your purchase is not under the Housing Developer Act rule since it is a subsale of a completed unit albeit from a developer.

For your added info, all legal fees, government duties and valuation fees are based on % of the SPA price and Loan Agreement.

This post has been edited by mini orchard: Oct 9 2022, 06:29 PM

My friend signed her SPA and loan 4 months ago, and he was told that he would receive his key within 3 months.

Every time she calls the lawyer, the lawyer will tell him that they are in the process of stamping loan documents.

It is normal to take such long time to stamp loan documents?

Is difficult to comment with limited info.

I bought an auction unit in April this year and loan fully disbursed in June. I just received the keys from the developer last week.

Some sellers or developers are strict with handover unless documentations are completed.

Visit the lawyer office and ask for latest status and post here. Phone conversation cannot always solve problem

#1. This property is in Melaka and the purchase price of 730k fulfills the minimum foreigner requirement of 500k. I was told that since it is purchased directly from developer they will put their own SPA price and terms where buyer cannot make any ammendments. Is that correct?

#2. I found this about bumi properties "...A purchaser should also keep in mind that a “released” Bumi Lot does not make it a non-Bumi Lot. Meaning that once the non-Bumi owner of the Bumi Lot chooses to sell to a non-Bumi, he will have to reapply for the Land Office’s consent for transfer of ownership...."
But I was told by the developer lawyer that the above only applies to landed properties. The property I am buying is a strata/non-landed property and I will be issued a strata title or Issue Document of Title. According to the lawyer, in Melaka, a strata title will not indicate bumi or non-bumi. Is that true? Does that mean I can sell to non-bumi in the future without any state consent?

Thank you souch for your advice.