Lowyat.NET: Latest topics by Bcom

Looking for Loan and Valuation for Zenia Garden Co

Bcom — Sat, 15 Oct 2016 18:37:08 +0800

I've viewed many units and finally found 1 that we intend to offer.

Now need to find a banker to first value the property and then to give us a loan.

Any takers here?

Buyer refused to accept keys

Bcom — Tue, 06 Aug 2013 21:39:21 +0800

A friend's case.
Agreed with agent to sell house at a certain value, informed agent that most fitting will not be removed.
House sold, a bit lower than market so took out all fittings and aircons. (Friend said agent is aware of this but agent now said not aware).

Now all banking transactions settled and monies released to sellers lawyer. But purchaser refused to accept keys, insisting that we fix grills, kit cabinets, tv racks, aircons, fix floor board etc etc

We have since agreed to fix the grills with stainless steel grills, and compensate rm5000 for built-ins. They still refused. Moreover their lawyer requested that we pay the 8% late vacant possession fee.

Questions that need all sifu's advice:
1. Do we have to do whatever they ask?
2. Should we pay the interest?
3. Can our lawyer just send them the keys and release monies to us?

Sorry if these are dumb questions. Thanks a ton for your advice!

Selling low-cost house

Bcom — Mon, 22 Aug 2011 09:16:39 +0800

My first time selling a house, need expert advice from Tai Ko's here

I own 1 unit of low-cost house, VP 2 months ago.
Generally the rule for low cost houses is that we cannot sell within 5 years, so in the event if we sell it name cannot be transferred.
Lawyer advised that we can sign some legal papers and names will be transferred once tenure is up.

Due to above, buyer cannot secure loan. But because they are very keen, they've decided to 2nd charge their 1st property to obtain the cash for this 2nd property. I'm going to collect the 2% earnest deposit today.
My questions are:

1. Upon collection of earnest deposit, other than issuing receipt - is there any documentations that needs to be signed by seller or buyer?
2. They are asking for 3+1 month to settle the purchase amount - is this normal practice?
3. If (2) is normal practice, then it should start from the day I collect earnest deposit?
4. When do we sign S&P, upon payment of 10%, or upon full settlement?

I'm a bit lost, since there are no loans involved (at least not using this property as charge), I really don't know what are the procedures.
Help!