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 My S&P problem, Balance sum not collected, pls advise

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TStravellinguy
post Oct 1 2008, 12:54 PM, updated 18y ago

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Hi icon_question.gif ,

I sold a property but my balance sum has not been collected athough the transfer consent has been approved. Problem is the purchaser already moved in as part of the condition in the agreement because purchaser paid more than 10%. According to my lawyer, the purchaser's lawyer NEVER reply at all. I went to my property everytime, I cannot find the occupants and my property is well locked. The neighbours also seldom see them.

What can I do now ? I told my lawyer to take action so I can recover my property to sell again but my lawyer has been too "lenient". NO actions so far. sad.gif

I will like to know whether I can claim on rental(for those months since payment due ?) or remedy work expenses to my property if the purchaser decide not to buy ? The S & P prepared by my lawyer have not mention such conditions.

My lawyer fees has been fully paid. Is my lawyer obligated to handle the rest of the job from now ?

Anyone can give some advise or introduce me to a lawyer who specialise on such matters ? Thanks.


tgrrr
post Oct 1 2008, 01:49 PM

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Hard to believe you use and paid your own lawyer and still manage to get into this mess.

First thing, who owns the property now? You said the transfer consent has been approved.. meaning the land office approves the transfer of property from you to purchaser? But has the transfer been done? What are the terms of transfer in the agreement between you and purchaser? Surely there's a deadline to fully pay up the balance?

You can try the forum in hba.org.my, there's more expert there. Or realestate.com.my, forum there is getting bad but there might still be a couple of legal experts there.
TStravellinguy
post Oct 1 2008, 02:18 PM

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Thanks tgrr,

I still own the property, transfer not effected yet because puchaser has not responded or make payment of the balance. There is a deadline of 3 + 1 month for purchaser to pay counting from the day transfer consent is achieved and it is long overdue now.... problem is my lawyer is not taking any much action for me and I am don't know whether it's his job to finish it.
tgrrr
post Oct 1 2008, 07:16 PM

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Well in this case, it seems the purchaser has defaulted on payment and breached his/her part of the agreement which SHOULD then be null and void. Note I said should, check the content of the agreement to be sure.

You should get your lawyer to evict the purchaser asap on the ground they are trespassing illegally. If your lawyer cannot do the job then find another one who can. You'll probably need to file a civil suit to get rental payment. A competent lawyer should be able to advise you on this.

Note that you can make a complain to Bar Council if your lawyer is not doing his job properly causing you to suffer losses. I don't understand about the no action by your lawyer part. Go through the paper trail and find out if your lawyer is doing is job, or just purchaser not responding.
n73me
post Oct 1 2008, 08:30 PM

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a few things i have in mind,
1) can you tell us who is the lawyer you hired, have to ban them for life.
2) since they did not pay up during the agreed time frame, by right you can forfeit the deposits. I think you can inform the other party's lawyer that you will take back the property and put your property back on sale.

i have learnt it the hard way that you should never allow the buyer to move in without receiving full payment for your property, always resist the temptation no matter what they offer you.
TStravellinguy
post Oct 3 2008, 11:53 PM

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Thanks guys,

For sure, I can get back the property but my dilemma now is whether have my lawyer "complete" his job or cost me more to get a new lawyer. If I don't need to pay my lawyer more fees to continue, I will not change lawyer. If I need to pay more, I might as well engage a new lawyer.

Anyone under such situation, is it my lawyer's job to complete the work.
I just read through the S & P and found that NO mention of any clause whether I can claim "rental" or in the even the sale is not through, how shall I refund balance(i can only forfeit 10%) or whether I have right to get purchaser to make good the condition of the property before returning it back to me.

All these conditions are not stated in the S&P. Or is it understood I have the rights to make claims although these conditions are not mentioned ?
foxpro
post Oct 7 2008, 01:33 AM

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you can claim rental and complain to Bar Council about your lawyer is he not take action.
Blue07
post Oct 8 2008, 07:53 PM

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QUOTE(travellinguy @ Oct 1 2008, 12:54 PM)
Hi icon_question.gif ,

I sold a property but my balance sum has not been collected athough the transfer consent has been approved. Problem is the purchaser already moved in as part of the condition in the agreement because purchaser paid more than 10%. According to my lawyer, the purchaser's lawyer NEVER reply at all. I went to my property everytime, I cannot find the occupants and my property is well locked. The neighbours also seldom see them.

What can I do now ? I told my lawyer to take action so I can recover my property to sell again but my lawyer has been too "lenient". NO actions so far.  sad.gif

I will like to know whether I can claim on rental(for those months since payment due ?) or remedy work expenses to my property if the purchaser decide not to buy ? The S & P prepared by my lawyer have not mention such conditions.

My lawyer fees has been fully paid. Is my lawyer obligated to handle the rest of the job from now ?

Anyone can give some advise or introduce me to a lawyer who specialise on such matters ? Thanks.
*
1. When is the completion date (or extended one, if you agreed to one)? Balance sum should be paid on or prior to that date.

2. Usually vacant possession of the property will be given to the buyer when the balance sum is paid. You seem to already have given him vacant possession before the balance is paid or the completion date due. Is the buyer's early moving in stated in the agreement or was it just verbal?

3. What action would you want your lawyer to take? If he has done the documentation, his job is done (note that release of the balance money is also reliant on work done by buyer's lawyer and buyer's bank's lawyer if he took a loan).

4. If the completion date is up, you can ask your lawyer to terminate the agreement according to the termination clause in the agreement. He can do the documentation that is necessary for that but bear in mind that he is as much able to physically get your property back for you as you are yourself. You'll need to litigate the matter and yes, that will incur additional costs. Your sale and purchase lawyer is not obligated to litigate for you.

That's the peril of giving early vacant possession. I hope that this is simply a case where the completion date isn't due yet and that you will get your money in due course.

 

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