We are in the midst of buying our 2nd property.We survey around for the property for more than a years.Finally, after visiting a few properties, we make a decision to buy one.It was quite a good offer.The place is at the same place we are renting now,plus it have 4 rooms, partly furnished with air-conditioned and water heater ,and freehold property.
Everything goes smoothly after that.We paid the earnest deposit to the agent and we applying a housing loan from a few financier.Finally, we choose RHB Bank as they are offering the best deal at BLR-2% and semi-flexi loan which mean that we can pump in extra money to pay for the principal payment.
We agreed to use the service of the lawyer recommended by the agent.We agreed with the S&P after we review the content of the S&P and were willing to proceed to sign S&P.However, problem occured as owner refused to sign S&P yet as they are waiting for the new title for their new house in Kepong to be completed.We are in the catch 22 situation. We already signed the Letter Offer early June and we must forward the stamp S&P to our financier by 1 month.Otherwise, they can cancel the loan and demand 1% penalty charge to cancel it.We are also expecting a new baby soon and my wife will be in Kelantan for a few months and it will be difficult for us to sign and complete the purchase during that period.I don't want to be incurred any penalty or let our loan been cancelled.I called back the agent and our lawyer to advise the owner to speed up this matter.Quite worried actually especially with the lawyer as it seems our lawyer don't take our problem seriously.Quite rarely she replied to our message or e-mail.It makes me think that we are making a wrong decision appointing this lawyer as our lawyer for S&P but as it already half-way,we think we should bear with it as it will incurred more cost and time for us if we want to appoint a new lawyer.
I pray to God that this transaction can be done soonest.The current economic condition and paying the rental of RM800 per month,it was better for us to buy a new house while waiting for our 1st house to be completed by mid 2011.Then, it will depend on the situation.Either we will rent it out or sell it back.At least, we are paying the rental for our home.Better safe than sorry ,right?
Everything goes smoothly after that.We paid the earnest deposit to the agent and we applying a housing loan from a few financier.Finally, we choose RHB Bank as they are offering the best deal at BLR-2% and semi-flexi loan which mean that we can pump in extra money to pay for the principal payment.
We agreed to use the service of the lawyer recommended by the agent.We agreed with the S&P after we review the content of the S&P and were willing to proceed to sign S&P.However, problem occured as owner refused to sign S&P yet as they are waiting for the new title for their new house in Kepong to be completed.We are in the catch 22 situation. We already signed the Letter Offer early June and we must forward the stamp S&P to our financier by 1 month.Otherwise, they can cancel the loan and demand 1% penalty charge to cancel it.We are also expecting a new baby soon and my wife will be in Kelantan for a few months and it will be difficult for us to sign and complete the purchase during that period.I don't want to be incurred any penalty or let our loan been cancelled.I called back the agent and our lawyer to advise the owner to speed up this matter.Quite worried actually especially with the lawyer as it seems our lawyer don't take our problem seriously.Quite rarely she replied to our message or e-mail.It makes me think that we are making a wrong decision appointing this lawyer as our lawyer for S&P but as it already half-way,we think we should bear with it as it will incurred more cost and time for us if we want to appoint a new lawyer.
I pray to God that this transaction can be done soonest.The current economic condition and paying the rental of RM800 per month,it was better for us to buy a new house while waiting for our 1st house to be completed by mid 2011.Then, it will depend on the situation.Either we will rent it out or sell it back.At least, we are paying the rental for our home.Better safe than sorry ,right?
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