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Dear Guru here, I need found out some information regarding my apartment strata title. I have planning sell out my apartment now & my apartment are ready to get strata title. Since i have planning sell out so i already told management to inform lawyer stop the processing before all documents reach land office then i can get refund back & will not hold my selling procedure. My question are the new buyer will have troublesome when apply loan? Is it i really need to executed the strata first before selling?
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1 Answer

David Wong Lai Kwong
Replied
Hi Jimmy,
It is best to check with your lawyer developer as this issue on the issuance of strata title is getting more rampant with sellers and buyers recently.
From my experience of a few cases in strata condominiums and office, the developer does not allow the current Owner (Seller) to avoid registering their names on the strata title and avoid paying the stamp duty required perhaps due to Land Office requirement to curb this loophole.
There will be a delay to transfer the said property to the Buyer if the Seller delayed in getting their name registered on the strata title and as such the bank loan release will also be delayed. To save the hassle and time taken, Sellers are required to execute the strata title first when issued. Please check with your lawyer and developer to verify.
David Wong
Principal
QUANTUM real estate
 +60193330573 
www.quantumrealestate.com.my Read More
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  • JW
    Replied
    Dear David,

    Thanks your expensive information. I will check with my developer & bank.

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