Lowyat.NET: Latest topics by leeps

Got VP of new subsale house

leeps — Thu, 05 Aug 2021 13:36:57 +0800

Hi newbie first time home owner here.

Was searching though the forums but all the advice are kinda piecemeal and can be contradicting and confusing.

Just got VP of my new subsale strata terrace house. Have some questions if anybody can help?

1. What documents is my lawyer supposed to provide me? My lawyer pretty useless. Doesn't guide and very reluctant to reply my messages. So far they have emailed me a digital copy of the stamped SPA and land title. Thats all.

2. For reconnection of utilities. I have managed to reconnect my TNB using the MyTNB website. Super efficient no need to go branch.

However, for Air Selangor and Indah Water, how can I go about it? Will I need to get the account numbers? If so from who, my lawyer or the vendor?

3. Have already informed management office of the change in owner, but seems like they are WFH, very very slow.

Anything else I am missing or need to do?

Thank you so much for your help.

Taking housing loan later

leeps — Tue, 11 May 2021 15:52:09 +0800

Hi as the title suggest, I have purchased a new condo which is underconstruction.

So far I have paid the 10% downpayment, and another 10% progress payment all with cash.

I have not taken/applied for a loan yet. Is it still possible to apply for a loan to service the remaining 80% now?

Initially wanted to pay with cash since it is progressive payment, but due to changes of circumstances, I figured a loan would be better.

Thanks a lot!

Timing of obtaining loan and SPA

leeps — Thu, 18 Mar 2021 10:30:27 +0800

Hi I would like to ask for opinion. I am buying a subsale freehold terrace house. I have already signed the purchase form, paid 3% earnest deposit, and obtained loan offer. However there is a disagreement with the timing.

1. Buyer + seller signed purchase offer on 1 Mar 2021. States 14 working days to execute SPA from signing which is 19 Mar 2021.
2. Purchase offer has condition that I get get loan approval in 14 working days, which I got in 11 Mar 2021.

Problem is, the sellers lawyer is rushing my lawyer and I saying the deadline to execute SPA is 19 Mar, not 13 Mar (14 working days from loan approval) - which I believe is the normal practise? Please help advise on which is the correct interpretation or what I can do. Thank you.

Lawyer for buyer

leeps — Tue, 02 Mar 2021 19:40:54 +0800

Hi want to ask is it recommended to use my banks lawyer doing the loan to also help me with drafting the S&P agreement for the purchase of a property?

Or should I engage a separate lawyer for S&P?

Thanks a lot!