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justLETAK! MAIN SITE > Archive for TPC – Practice

Category: TPC – Practice

SoHo under Commercial or Residential?

25/01/2019 Thomas Sim E3009

Q. Is SoHo units under commercial or residential category of treatment by local government? A. This has effect on bills and ways these units be used. Commercial rates of electricity Read More …

2.5 Real Est Agcy Practice, TPC - Practice2.5Leave a comment

Buying a tenanted house TPC – Practice Q25

10/08/2018 Thomas Sim E3009

Q. How is it different between buying a tenanted house compared to an empty house? A. When a property is bought with tenant, it can be:’ Vacant possession – that Read More …

TPC - Practice

What is co-agency? TPC – Practice Q24

10/08/2018 Thomas Sim E3009

What is co-agency? How to avoid being cut-off? Co-agency as in Standard 7 of MEAS 2014 has the below definition. 7.1.1 Co-agency is co-operative agreement between a listing agency firm Read More …

TPC - Practice

Sequence of event to tenancy agreement TPC – Practice Q23

10/08/2018 Thomas Sim E3009

The sequence of events to a rental agreement. The landlord advertise to the public for potential tenants. This is invitation to treat. Prospect tenants are selected. The agent receives inquiries Read More …

TPC - Practice

Redemption sum larger than transacted amount TPC – Practice Q22

10/08/2018 Thomas Sim E3009

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 Read More …

TPC - Practice

Post SPA Stage – Part 2 of 2 TPC – Practice Q21

10/08/2018 Thomas Sim E3009

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 …

TPC - Practice

Post SPA Stage – Part 1 of 2 TPC – Practice Q20

10/08/2018 Thomas Sim E3009

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 …

TPC - Practice

When should you allow your IC being taken? TPC – Practice Q19

10/08/2018 Thomas Sim E3009

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 …

TPC - Practice

Booked but cannot get loan, how? TPC – Practice Q18

10/08/2018 Thomas Sim E3009

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 …

TPC - Practice

After booking your property, what is next? TPC – Practice Q17

10/08/2018 Thomas Sim E3009

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 …

TPC - Practice

Direct to SPA TPC – Practice Q16

20/06/2018 Thomas Sim E3009

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 …

TPC - Practice

With or Without SPA TPC – Practice Q15

20/06/2018 Thomas Sim E3009

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 …

TPC - Practice

Booking Fee Refundable? TPC – Practice Q14

20/06/2018 Thomas Sim E3009

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 …

TPC - Practice

Conditional and Unconditional TPC – Practice Q13

20/06/2018 Thomas Sim E3009

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 …

TPC - Practice

Early Vacant Possession advisable? TPC – Rules Q3

20/06/2018 Thomas Sim E3009

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 …

TPC - Practice

Commercial Property Loan % TPC – Practice Q12

20/06/2018 Thomas Sim E3009

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 …

TPC - Practice

Residential Loan % TPC – Practice Q11

20/06/2018 Thomas Sim E3009

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 …

TPC - Practice

Cost of transaction TPC – Practice Q10

20/06/2018 Thomas Sim E3009

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 Read More …

TPC - Practice

Counter Offer TPC – Practice Q9

20/06/2018 Thomas Sim E3009

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 Read More …

TPC - Practice

Refusal to Sell/Let TPC – Practice Q8

20/06/2018 Thomas Sim E3009

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 Read More …

TPC - Practice

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