SPA 3-mth Completion Date & 1-mth Extended Date

gingy_82 — Sun, 13 Jul 2014 15:15:16 +0800

Dear all sifus and taikors,

I recently sold my house through real estate agent and lawyer recommended by him. Both buyer & seller were using the same lawyer. However, there were delay of my current house selling process.

Kindly seek your valuable advice on my situation:

3rd March 2014 - Signed SPA, both seller & buyer
26th June 2014 - Redemption sum by buyer bank to seller loan account
3rd July 2014 - Lawyer present case to Land Office for title transfer process

Until now, i had not received my balance of house selling. According to my lawyer, my case SPA 3-mth completion will stop at current date (on 3rd July) because there was some delay in buyer bank settlement of balance amount to me and buyer who wanted to avoid paying late interest has opt to pay differences by cash (~RM200k) using his own "pocket money" to lawyer (who act as stakeholder).

I had a feeling that the lawyer is acting in the interest of the buyer and denying my rights. I had been continuously following up on my case from day 1 and even reminded the lawyer on the urgency to follow up on the case (since i need to clear my current loan account to obtain another house). But, the lawyer has not been very clear with his every steps and not even update me on the process. He only inform me that any delay can only be calculated once full redemption & settlement has been concluded

My question is:

1) How actually is the 3-mth Completion period calculated? 90 working days or 3-mth from 3rd March till 3rd June?
2) If the 3-mth completion period lapse, how can i claim my late payment interest?

I had read previous forum on SPA & the Completion Date period but had not found exact specifics on how they use to calculate the 3-mth duration.

Appreciate any comment or advice!!! Tq for your precious time to browse through my case

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SPA 3-mth Completion Date & 1-mth Extended Date