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 Buyin 2nd Hand Condo - left by bf sister., Will this difficult to transfer? Help...

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bbjslee
post Aug 27 2008, 02:30 PM

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QUOTE(8v!n @ Aug 27 2008, 01:53 PM)
To buy over the lil-sis half share also need to involve the legal work. So in that case, one question is, do my bf still can get loan from bank?

The 6k transfer fee is from the pass-away sis --> to my bf & lil-sis. As been inform by that lawyer, is discounted. But i would like to survey instead can get better and cheaper cost.

FYI, me & bf total income is 6k per month. In order, we still have our installment and some debts to pay every month. But calculated it most probably will approved.
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1. Does your bf's sis bought MRTA or any type of insurance to cover for the loan of Condo?
2. You say you & your bf plan to buy the condo... from who? Who owns the condo now?
bbjslee
post Aug 27 2008, 02:59 PM

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QUOTE(8v!n @ Aug 27 2008, 02:45 PM)
Location is at Desa Petaling Condo. The selling price is actually 240k but since sell to his-self and me, then sell at 220k.

I'm trying to get my dad's lawyer, but the problem is, my dad totally disagree for me to buy that house, because he say will occur bf side family politic in future. I'm still considering should i just 4get about it or keep focus on that?
The bad things is no MRTA, coz 8 yrs ago doesnt popular with that issue. Now we suffering.

Owner of the condo is my bf sis (who passed away alr)---> legal inheritance by my bf and lil-sis.
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1. Your dad does have his valid point. Are you and your bf considering marriage in near future? "Together" for long time doesn't guarantee will marry. Touch wood, when both of you decide to split... there will be lots of complication arises, legally and human.

2. Both your bf and his lil sis will need to continue to finance the loan, not "buying" from someone else.

3. Speak to the bank and consult a lawyer.
bbjslee
post Aug 28 2008, 03:04 PM

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QUOTE(8v!n @ Aug 28 2008, 02:57 PM)
Dear cactus1,

I'm first timer to buy housing property, and dunno those legal stuff or housing procedure as i'm more likely in ICT + media line.

To reply ur question:

    Me & my bf is 25 y/o,  bf lil-sis is 24 y/o, owner which the sis had pass-away is in early 30s.

    the condo beneficiaries to my bf & bf lil-sis

    The flow we plan is [pass-away sis]----> beneficiary to [my bf & bf lil-sis] -------> buy over [me &  my bf]

    Me & bf definately eligible to get loan. As for this mean time, my income is more than my bf. We both plan to get the housing loan. But of course, since bf got lil-financial-problem, so that i need to pay more. But, i just worried, one day i cant fork out more money then wat i plan now.  Plan this because once we got our own house, then can get married.
Is this silly thought that i have? Or i act too much instead to get married?
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I assume you're non muslim. Have you thought of marriage registration 1st?
Once both of you are "legally" married, it will make things easier.
Your father does not want you to "rugi", and so does we here who r trying to give you advice.
bbjslee
post Aug 28 2008, 04:06 PM

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QUOTE(8v!n @ Aug 28 2008, 03:30 PM)
I'm chinese Amen..

I'm daddy girl..

I love my bf. So trying to help him to get the condo. As from our point of view, if we buy over, we save alot which now the house alr got. Including 10k for simple reno, more than 10k of house furniture and electronic stuff. Nice view of KL city. olympic size swimming pool. If buying new condo, need to wait till it complete.

As summarize, is actually worth it, if we can strive to get the condo. Just whether good for me to do it or not. Anyway, really appreciate for all advise. I knew everyone is trying to concern be the neutral adviser.

Still in consideration.
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It's your choice.
Anyway if you choose to go ahead, you can try and refinance with cash out, that way you can get extra cash to hold your wedding ceremony.
bbjslee
post Sep 2 2008, 03:58 PM

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QUOTE(8v!n @ Sep 2 2008, 03:49 PM)
Uhmm. . . . i decided to handoff.

Since there is no planning from my bf. He just cant stay focus.

The things i can do is encourage him to sell off the house asap.
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If decided to rent out the property, can the rental cover the loan? Further more since it is fully furnished, should be able to fetch a higher rental.
If yes, would suggest to keep the unit. If no... just sell off la.
bbjslee
post Sep 2 2008, 06:14 PM

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QUOTE(johnsonm @ Sep 2 2008, 05:34 PM)
rental is probably not an option as they will still have to get a loan to take over the sister's loan... and then what happens if you cant find a tenant for a few months? too risky.
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If you can't find a tenant for a few months, what's the probability you'll get someone to buy your house in few months? Don't forget, the legal procedures will take months to complete before the new buyer can take over the condo. So in terms of time, both will come up to the same.

If the potential rental is more than loan payment, then can consider it as an investment.
- No downpayment required.
- Just continue to service the loan, not necessary to get a loan to take over sister's loan. (Need to negotiate with bank).

But TS has stated she'll leave it to the bf to decide/handle, we'll just wait n see.

 

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