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kalysp
Joined: 05 Aug 2008
Posts: 1
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 Posted: Tue Aug 05, 2008 3:47 pm Post subject: Stuck cos seller lost the strata title! |
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hi all,
would like some advice on my issue. just purchased an apartment and also signed the letter of offer frm the bank. while drafting the S&P, my lawyer informed that the seller has lost the original strata title and all the bank documents (he finished paying his loan). He will need to go 2 the land office and get a new title...and this could take up to 6 mths!
my lawyer said she will help me chase up and the 14days penalty shd not apply since it is the seller's fault and since both of us are actually using the same lawyer (the seller is a pilot and not always in msia so he is very cincai).
my questions:
1) I have already signed the bank offer letter...is there any penalties from the bank if the title /S&P is still not ready after 6 mths?
2) how can I speed this up - I dont want to wait until 6 mths just to get the title..! The seller also comes back once every 2 mths only.. @_@
Can I proceed with S&P and loan using just the photocopy of the title and since we alreayd have the geran number etc?
appreciate anyone's experienced advise. thanks! |
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cynthusc
Joined: 16 Sep 2005
Posts: 306
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| Posted: Wed Oct 08, 2008 5:52 pm Post subject: Re: Stuck cos seller lost the strata title! |
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| kalysp wrote: | hi all,
would like some advice on my issue. just purchased an apartment and also signed the letter of offer frm the bank. while drafting the S&P, my lawyer informed that the seller has lost the original strata title and all the bank documents (he finished paying his loan). He will need to go 2 the land office and get a new title...and this could take up to 6 mths!
my lawyer said she will help me chase up and the 14days penalty shd not apply since it is the seller's fault and since both of us are actually using the same lawyer (the seller is a pilot and not always in msia so he is very cincai).
my questions:
1) I have already signed the bank offer letter...is there any penalties from the bank if the title /S&P is still not ready after 6 mths?
2) how can I speed this up - I dont want to wait until 6 mths just to get the title..! The seller also comes back once every 2 mths only.. @_@
Can I proceed with S&P and loan using just the photocopy of the title and since we alreayd have the geran number etc?
appreciate anyone's experienced advise. thanks! |
Please make sure that the original is secured before the S&P is signed. If the seller makes an appearance at the land office to get his title out, it will be faster. As the lawyer to prepare the ground work...police report, cover letter etc...and then get the seller to go to the land office and push. Persistence is important. |
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