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Why is the process of buying house takes so long?, need advicesss..
TSxareena
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Jun 13 2008, 02:54 PM, updated 16y ago
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New Member
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bought a condo..the agent said it will take about 3 months to transfer the names. but she recomended me a lawyer that can make the process a bit faster,since im paying it by cash.
do i really need a lawyer for that?
does it take a long time to transfer the names?
is it expensive to enggage a lawyer?
i really want to make the changing names process a bit faster..helppppppppppp!!
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b00n
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Jun 13 2008, 03:22 PM
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delusional
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Bare in mind that buying houses is not lik picking up stuff you want to buy in a supermarket. You need lawyer to help out in changes of name in deed titles. Land office to certified and also maintain their records etc... Buyer and seller would need their own lawyer to protect their own interest in this transactions. Even if you pay in cash, the previous mortgage if not settled; your cash would be paid to redeem the property from the end financier which would again take time. i.e. settling of loans, digging up of the title deeds, settling with land office etc...
All in all, it's not an easy process.
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vaio_me
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Jun 13 2008, 03:27 PM
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Getting Started
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Agreed that buying a house is not buying grocery stuff in supermarket. Serious investor make 100 over calls and visiting 60 over location before making decision to buy a unit. This is just one time job and the money will grow on it's own. No Pain No Gain.
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livingmonolith
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Jun 13 2008, 03:47 PM
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QUOTE(vaio_me @ Jun 13 2008, 03:27 PM) Agreed that buying a house is not buying grocery stuff in supermarket. Serious investor make 100 over calls and visiting 60 over location before making decision to buy a unit. This is just one time job and the money will grow on it's own. No Pain No Gain. um, i think the TS already bought the condo and is asking about the duration of time for the property to be officially called hers. not scouting around for houses to invest in. anyway, it's typical to expect like 6 months to settle everything, new properties would be faster, second hand properties may be longer. from personal experience, it took me 9 months to land a second-hand property, calculated from the first day we contacted our respective lawyers. was frustrated with the long duration, but i can understand why it took so long, i can doze off reading all the paperworks.
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TSxareena
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Jun 13 2008, 04:43 PM
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New Member
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whoaa..it took u about 9 months for all the process to be settle? means i have to wait for that long? was expected to wait just 2 months to settle the change of names and all..cos i wana do some renovation for the new place..plus my tenancy of the unit that im renting now is gona end in october..means i have to extend more..
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yewkhuay
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Jun 13 2008, 04:53 PM
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QUOTE(xareena @ Jun 13 2008, 04:43 PM) whoaa..it took u about 9 months for all the process to be settle? means i have to wait for that long? was expected to wait just 2 months to settle the change of names and all..cos i wana do some renovation for the new place..plus my tenancy of the unit that im renting now is gona end in october..means i have to extend more.. if it is a free hold n tittle is out then it might be faster.
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TSxareena
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Jun 13 2008, 04:55 PM
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New Member
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hopefully
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scorgio
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Jun 13 2008, 04:56 PM
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The moment u signed the S&P, there should be a clause which mention the duration given which u must settle the balance of purchase price. Usually 90 or 120 days.
As soon as the money reaches the seller's or bank's hand, doc signed & received, technically speaking, u are already the legal owner of the property. At this stage, the keys & possession to property should be handed to you.
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MX510
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Jun 13 2008, 04:59 PM
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It took me 6 months to clear up the longest thing was when to tukar gadaian in the Pejabat Tanah. Luckily i kenal someone inside that can help me :-) .
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azfamy
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Jun 13 2008, 05:19 PM
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Getting Started
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QUOTE(xareena @ Jun 13 2008, 02:54 PM) bought a condo..the agent said it will take about 3 months to transfer the names. but she recomended me a lawyer that can make the process a bit faster,since im paying it by cash. do i really need a lawyer for that? does it take a long time to transfer the names? is it expensive to enggage a lawyer? i really want to make the changing names process a bit faster..helppppppppppp!! wahh.... still 'young' already bought a condo?? With CASH some more good for you psstt... btw... what's your secret??
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TSxareena
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Jun 14 2008, 04:56 PM
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New Member
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hehehe thanks u guys..for ur replies. got a lawyer already..she said she can settle it by 2months. yeyyyy! hopefully everything's going smooth..
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terrytang81
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Jun 16 2008, 08:15 PM
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Getting Started
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as you buy by cash is more faster the process.........normally by cash will be settle in 2 months time.........start from you sign the s&p.... lawyer will send for stamping cost about 2 week..then execute the process.. another 1 month..so about two months will settle the case... just remember to call the lawyer after one month to re-assure the process.
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TSxareena
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Jun 18 2008, 12:15 PM
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New Member
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thankssss
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