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Waiting time for Title transfer ?, How long to wait for full payment?
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TSming2020
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  Feb 29 2008, 02:45 PM, updated 18y ago
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Hi Need to hear from people, especially those with personal experience having sold property. What is the average time needed between the signing of S&P, for the Land Office to approve the title transfer, and finally for the full money to be paid out by the bank? Let's assume here that everything goes smoothly e.g. no legal problems with the property being sold, etc. I have heard various opinions. From minimum 3 months, to 6 months till 1 year before the land office finishes their job. (There are also rumours of sellers having to pay significant "duit kopi" in order to speed up the land office process.... but let me stress that this is just rumours  ) Thanks. |
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TSming2020
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Mar 13 2008, 11:38 PM
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QUOTE(airline @ Mar 3 2008, 08:53 AM) Dont forget to chase the lawyer as well!! haha. It's out of the lawyer's hands once we reach the title transfer stage right? All up to the land office...  |
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TSming2020
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Mar 14 2008, 10:43 AM
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QUOTE(GTL @ Mar 14 2008, 10:33 AM) Normally 3 to 6 months, the reason is because the traditional mode of communication, i.e letter and the buyers' financier (assuming you take a loan from bank) to conduct a valuation on property and so on. But it does not mean you can't do anything. You can help to expedite the process by: 1. both seller and buyer using the same solicitor; 2. instruct the solicitor to revert documents by uploaded to email rather than ordinary post; 3. provide adequate documents to banker (if any) to secure a fast letter of offer. 4. (for investor only) negotiate with seller to allow entry to premises before trasfer completed, talk to your lawyer for this, so you can let the premises for rent. OK, assuming the SPA signed, Purchaser's bank loan already secured, and all that's left is the Jabatan Tanah to process the transfer, how can I, as the Seller, then expedite the process? |
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