Thomas Sim PEA2066

The Landlord and tenant signed the tenancy contract, however tenant has not paid the security deposit. Is the contract valid?

In most cases, the landlord is a busy person. When the tenant confirms taking the […]

Money or signature, which is more important in a contract?

In a normal sequence of events, a booking fee is paid upon an offer to the landlord or vendor. When the agent (who communicate with his principal) […]

What is a contingent contract? Is that “time is an essence” a contingent contract?

In case where the tenant says he will only RENT the premises after the landlord has clear the junk – is clearing of the junks con […]

What if the redemption sum is larger than the 30% of the transaction amount?

Take for example, you bought a property from John at RM500,000. Your loan is 70%, ie RM350,000. And you need to pay cash 30% – […]

Why is the first 10% payable to seller upon signing of SPA, and the 20% (if loan at 70%) not payable but held in client’s account of the lawyer later on?

Let us go back to contract procedure first. If you could […]

What is the difference between before and after signing SPA? What is 10% upon signing SPA?

The 10% upon signing of SPA is a condition for the contract. In other words, it is contingent to the contract. See S.32 […]

Time is an essence – Part 3. When time is not essential, can you claim damage?

Take an example, you have a basket of fruits in a pasar malam on sale. A customer came and booked for it. He gave you a deposit of […]

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 […]

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 […]

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 […]

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 […]

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 […]

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, […]

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. […]

Q.

Can you directly proceed to SPA without going to an agent?

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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 […]

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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What is “service suite” if compared to “condominium”?

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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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What is conditional contract? When does it become unconditional?

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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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Criminal issues in tenancy. What is the implication of that?

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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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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 […]