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Thomas Sim PEA2066 wrote a new post, Time is an essence Part 2 of 3 TPC – Law Q9 7 years, 1 month ago
Time is an essence – Part 2. When time is not essential. What happen next?
When tenant said I will start renting your place from July, time is a factor to consider in this contract. Time is an essence. BUT, what […]
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Thomas Sim PEA2066 wrote a new post, Time is an essence Part 1 of 3 TPC – Law Q8 7 years, 1 month ago
Time is an essence – Part 1. What does it mean?
S.56 CA 1950 says in a contract, time is an essence… to perform at fixed time, in contract in which time is essential. Simply said, within agreed time, there is c […]
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Thomas Sim PEA2066 wrote a new post, When should you allow your IC being taken? TPC – Practice Q19 7 years, 1 month ago
Should you give your IC and land title if prospect does not put deposit (booking fee)?
In a normal process of selling your property through an agent, the agent will handle all this. So, you need not have to […]
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Thomas Sim PEA2066 wrote a new post, Booked but cannot get loan, how? TPC – Practice Q18 7 years, 1 month ago
What if I did not get the loan but I have already booked the property? (Paid earnest deposit)
This is the single most important reason that an agent should be appointed in dealing with your seller. When there is […]
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Thomas Sim PEA2066 wrote a new post, After booking your property, what is next? TPC – Practice Q17 7 years, 1 month ago
After you have put your booking fee, what happens next (Vendor-Purchaser – subsale)?
You saw a house and decided to buy. You gave the booking fee (usually RM5,000) to the agent. What happen after this?
In buying […]
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Thomas Sim PEA2066 wrote a new post, REN Tag renewal CPD TPC – Rules Q4 7 years, 1 month ago
Q.
What are the CPD Courses for renewal of REN tag for 2019?
A.
Circular 5/2018 of the Board has the below CPD course organizers:
Royal Institute of Surveyors Malaysia (RISM)
Association of Valuers, […] -
Thomas Sim PEA2066 wrote a new post, Direct to SPA TPC – Practice Q16 7 years, 2 months ago
Q.
If the buyer straight away go to sign SPA without booking fee, what happen?
A.
Nothing much happened. Only that there is no signing of letter of offer. This offer letter usually would specify few things. […]
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Thomas Sim PEA2066 wrote a new post, With or Without SPA TPC – Practice Q15 7 years, 2 months ago
Q.
Can you directly proceed to SPA without going to an agent?
A.
Of course you can!!!
The practice of agency is not mandatory. What it means is you can directly transfer your property to someone else without […]
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Thomas Sim PEA2066 wrote a new post, Booking Fee Refundable? TPC – Practice Q14 7 years, 2 months ago
Q.
Can I get back my booking fee (earnest money)? When a purchaser offers to buy a property from a vendor (seller) in a subsale. He puts his booking fee (usually RM5K or RM10k) or about 5% of property […]
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Thomas Sim PEA2066 wrote a new post, Service Suite vs Condo TPC – Law Q7 7 years, 2 months ago
Q.
What is “service suite” if compared to “condominium”?
A.
Some answers are like:
Service Suite is of higher standard! It is used as “Hotel”! It is commercial use. It has commercial activity, etc.
In fa […]
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Thomas Sim PEA2066 wrote a new post, Conditional and Unconditional TPC – Practice Q13 7 years, 2 months ago
Q.
What is conditional contract? When does it become unconditional?
A.
When two parties come to a negotiation, many things are not yet certain. If I get my wife to agree, I can go watch football with you. This […]
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Thomas Sim PEA2066 wrote a new post, Criminal issue in Tenancy TPC – General Q5 7 years, 2 months ago
Q.
Criminal issues in tenancy. What is the implication of that?
A.
When a prospect calls to book your place, is money the only factor to rent to him?
Many a time, we look at money being the single decision in […]
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Thomas Sim PEA2066 wrote a new post, Early Vacant Possession advisable? TPC – Rules Q3 7 years, 2 months ago
Q.
What if the tenancy agreement is in the future date? Can I let the tenant in first? How about my fee as agent who completed the instruction?
A.
In a case where the landlord agrees to rent to the tenant in a […]
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Thomas Sim PEA2066 wrote a new post, Land Conversion AVTC TPC – Law Q6 7 years, 2 months ago
Q.
What is Land Conversion or AVTC (Application for Variable Title Condition)?
A.
AVTC* is a term used in Sarawak. West Malaysia, it is called land conversion. The fee is called premium or additional premium […]
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Thomas Sim PEA2066 wrote a new post, Ownership by Company TPC – General Q4 7 years, 2 months ago
Q.
Can I buy property using my business name?
A.
The answer is YES and NO. Why?
If your business is a sendirian berhad or berhad company, then YES! If your business is a sole-proprietorship or partnership, […]
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Thomas Sim PEA2066 wrote a new post, Commercial Property Loan % TPC – Practice Q12 7 years, 2 months ago
Q.
How to best benefit from Commercial Property Loan?
A.
Policy for loan on commercial properties is usually at maximum of 80% of the value of property.
However, there is no limit of how many commercial […]
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Thomas Sim PEA2066 wrote a new post, Residential Loan % TPC – Practice Q11 7 years, 2 months ago
Q.
How do you best benefit from housing loans?
A.
1st and 2nd loans – up to 90% of the value of the property (residential).
3rd and beyond – up to 70% of the value of the property (residential).If you […]
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Thomas Sim PEA2066 wrote a new post, Cost of transaction TPC – Practice Q10 7 years, 2 months ago
Q.
How much is the ancillary cost of buying a property (subsale)?
A.
We have paid for the house say RM500k. What are the other costs that you need to pay? Buying a house includes the below costs:
Stamp duty […]
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Thomas Sim PEA2066 wrote a new post, Counter Offer TPC – Practice Q9 7 years, 2 months ago
Q.
What happen to offer when you negotiate? The original offer still stays?
A.
Take for example, when you saw an advertisement to let – RM1,200 per month rental. You call the landlord/agent, and offer to rent […]
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Thomas Sim PEA2066 wrote a new post, Refusal to Sell/Let TPC – Practice Q8 7 years, 2 months ago
Q.
Can you refuse to sell? Or Rent?
A.
We usually prefer to agree. This is a common Asian culture. We seldom reject. So in selling, when people give in to us, we will just agree.
In law, this is not so. When […]
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