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 Read More …
Author: Thomas Sim E3009
I am the founder and webmaster of estateagentexam.com. This is an E-Learning website for Diploma in Estate Agency Examination conducted by Board of Valuers, Appraisers, Estate Agents and Property Managers, Malaysia (BoVAEP). I am contactable at 012 - 8866 090 and email address simyansun@gmail.com.
Post SPA Stage – Part 1 of 2 TPC – Practice Q20
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 Read More …
Time is an essence Part 3 of 3 TPC – Law Q10
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 Read More …
Time is an essence Part 2 of 3 TPC – Law Q9
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 Read More …
Time is an essence Part 1 of 3 TPC – Law Q8
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 Read More …
When should you allow your IC being taken? TPC – Practice Q19
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 Read More …
Booked but cannot get loan, how? TPC – Practice Q18
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 Read More …
After booking your property, what is next? TPC – Practice Q17
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 Read More …
REN Tag renewal CPD TPC – Rules Q4
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 Read More …
Direct to SPA TPC – Practice Q16
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 Read More …
With or Without SPA TPC – Practice Q15
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 Read More …
Booking Fee Refundable? TPC – Practice Q14
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 Read More …
Service Suite vs Condo TPC – Law Q7
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 Read More …
Conditional and Unconditional TPC – Practice Q13
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 Read More …
Criminal issue in Tenancy TPC – General Q5
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 Read More …
Early Vacant Possession advisable? TPC – Rules Q3
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 Read More …
Land Conversion AVTC TPC – Law Q6
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 Read More …
Ownership by Company TPC – General Q4
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 Read More …
Commercial Property Loan % TPC – Practice Q12
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 Read More …
Residential Loan % TPC – Practice Q11
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 Read More …