Purchase of House 3

I went to sign the Sales and Purchase Agreement (S&P) on Wednesday. The lawyer, Ms Teoh dated me at 4pm.

Before that, I managed to sign my BICT's friend, PS's youngest daughter's medical plan. Thanks for her trust and support as she delivered the baby in June 2018, just one month before my road accident, but she waited for me and bought the insurance from me until that day. Wow, I really appreciate her support. 

When I signed the S&P, the house owner was not there. He will sign the S&P next week with his wife, which I informed the lawyer to make a warm reminder to him. There were so many documents needed to be signed and I had to sign on each page to prove that I had read and known the existence of the pages. However, I didn't read the pages indeed. Anyway, I just trust the lawyer.

She said my total lawyer fees, including legal fees, stamp duty and disbursement will be RM6,000. Is it expensive? I didn't know. She said since this is my first house purchased, my stamp duty will be waived by government. She further told me that the house owner will be taxed under Real Property Gain Tax (RPGT) as our Malaysia government had announced that every sale of the house in Malaysia will be taxed RPGT regardless of the terms or tenures bought since 2020. Thereupon, she will need to withhold 3% of the selling price of the house and let government to compute the RPGT on profit from the sale.

This time, my dad went to the lawyer's office himself but he reached there before me. He asked the lawyer to enquire the house owner that can he pass us the house's keys earlier, probably next month or April because we need to do some renovations there? So, just wait for the lawyer's reply. 

She said sellers will only pass the buyers keys when they receive the full payment, including those from bank even though the buyers' loan had been approved by the bank. Nonetheless, the seller or the brother of the seller had told my dad that they would pass us the keys earlier since the seller has many houses in Penang and the one that I buy is for his workers who are from Nepal to stay as hostel only.

Well, hopefully it will be March or April 2020 to get the keys instead of May or June 2020 as stated in the S&P, the so-called 3 months + 1 month. The lawyer just helps me to change name on quit rent and Indah Water. I have to change the PBA and TNB accounts to my name myself. 

I had asked the PBA on Tuesday that I had to pass them the documents and forms earlier than the seller to change to my name, otherwise they will dispose of the water meter outside and when I go to submit my details there, only they will install the water meter back to me. Therefore, hopefully the seller can go to the PBA and TNB offices with me later.

So now everything is signed and just hope for the best.