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MOT payment question

 
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redfly



Joined: 22 Feb 2006
Posts: 2

PostPosted: Wed Feb 22, 2006 7:40 pm    Post subject: MOT payment question Reply with quote

Hi,

I in the process of signing my S&P for a house purchase in Setia Eco Park. I'm told the individual title has just been issued, and we have to prepare for the MOT payment very soon...

My question, is this MOT payment deferrable to some later date? Also what are the other fees to expect for handling the MOT? We actually expect the MOT will only be ready next year, hoping to save some cash towards it, however Setia Eco Park Co. is quite efficient Shocked Now, we have to get ready to fork out another lump sum... Sad

Many thanks in advance...
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cynthusc



Joined: 16 Sep 2005
Posts: 504

PostPosted: Fri Feb 24, 2006 2:26 pm    Post subject: Reply with quote

Dear redfly,

What do you mean by MOT payment? Im assuming that you mean the Stamp Duty for the Transfer. If the title is our you will have to execute the transfer forms and yes, pay the Stamp Duty.

Aside from the Stamp Duty, you will also have to pay the registration fees for the MOT at the Land Office. As you are purchasing from the Developer, I think the Developer would most likely be paying for the legal fees.

As for delaying the transfer, I dont think your Financier's solicitors would allow that. Further should you delay the MOT, your loan will get delayed and you will also have to pay penalty to the land office if the MOT is not presented within 3 months of the date in the MOT. This penalty is imposed for every 3 month's of delay.

Hope the above answers
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