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Unutilised sinking fund for subsale condo
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WaCKy-Angel
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 Jan 8 2024, 02:48 PM
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QUOTE(dopamine @ Jan 8 2024, 02:25 PM) Hi guys, my sis bought a subsale condo and now is going to collect the key. But before collecting the key, her lawyer asked her to pay the unutilised sinking fee around rm1.8k to the seller. And I'm wondering why need to pay as this amount should be paid by the seller (maintenance fees + sinking fees). Kindly seek your advice whether this amount need to pay ? Thank you. Ur S&P lawyer should make sure all bills are paid up to date by the seller. Not sure what meaning "unutilised" but if its the seller made advanced payment u can either pay back to seller or ask seller deal with MO for refund. |
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WaCKy-Angel
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Jan 8 2024, 02:50 PM
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QUOTE(pysh @ Jan 8 2024, 02:47 PM) its up to date but un-utilised sinking funds.. from my previous sale, i didnt get back those.. but again, maybe this owner paid in advance a couple years. No such thing lah. Those funds are paid monthly, whether it was used by MO or not during the owner's period is not new buyer problem. If the ex owner didnt pay the bill before this, does that mean new buyer should pay for it? Totally no logic |
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WaCKy-Angel
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Jan 8 2024, 03:07 PM
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QUOTE(dopamine @ Jan 8 2024, 02:52 PM) This is not advance payment . All these while previous owner paid the sinking fees as usual, so until today there are still having balance unutilised around rm1.8k which yet to be used by management. So now lawyer asking my sis to pay this rm1.8k to previous owner. Ur lawyer is taking u for a ride. I'm assuming its the seller's lawyer? Ur sis did not get own lawyer? |
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WaCKy-Angel
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Jan 8 2024, 03:13 PM
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QUOTE(pysh @ Jan 8 2024, 03:07 PM) ya exactly my point.. just trying to point out that this seller is up to date, just that its unutilised amount Sinking fund and maintenance fees are considered burn. The only thing can pro-rafe back is any current monthly bill should be calculated until pass over kes, anything before that is borned by previous owner and anything over the day is payable by new owner That including sinking fund, maintenance fee, cukai pintu, cukai tanah (if any) all shall be pro-rated and these will be calculated by lawyer to perfection. |
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WaCKy-Angel
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Jan 8 2024, 03:15 PM
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I'm impressed how the seller/lawyer able to calculate how much was the "unutilised" sinking fund lol.
Wonder what is the formula used
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WaCKy-Angel
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Jan 9 2024, 11:16 AM
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QUOTE(donald88 @ Jan 9 2024, 11:05 AM) Condo management doesn't care who the money comes from (old or new owner) and usually sinking fund is yearly. If you pay to your seller just make sure condo management don't chase after you for payment for the days before you officially own the property. Sinking fund payment by monthly ler. I dont recalled how much i paid sinking fund monthly but i think its like less than RM50/month. If seller claiming for RM1.8K that is like about 3 years worth of sinking fund. This post has been edited by WaCKy-Angel: Jan 9 2024, 11:19 AM |
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