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View Full Version : swindle,con or mix up?



jan tomaswaki
25-10-2010, 12:54 PM
Bought a old shop lot for RM1.5m .The bankers,lawyers and sellers have all done their part after six months,until the valuer said the land grant was not the unit i bought :eek: :mad: What to do next?

1) Just buy the unit as it is just 50m away from the original one
2) Sue him for misleading but the owner is 88yr old
3) Sue the his lawyers and bankers.

Forummers pls advise as i have 2 weeks to decide but i also check whether this old man has two units and he want to sell the diplated one to me :mad:

Sentinel
25-10-2010, 01:10 PM
Before the sale was completed, there was a period where the lawyers representing you should have done the due diligence i.e. checking the grant and with the land office, check to ensure its "free of encumbrances" and then complete the transfer before payment could be released. If this is not done by your lawyer and you end up in the mess you are now, then the only person you can seek recourse from is your own lawyer. How they resolve the matter with the other party, the other party's lawyers or even the broker who presented the sales proposal is not any of your concern. You just hold your own lawyer by the two and make sure they find a way out - at no cost because they screwed big time. Tell them they have to or you will seek an answer from the Bar Council... that should cause them to sh!t bricks a little... :D

jan tomaswaki
25-10-2010, 01:16 PM
Even in the s/p agreement the add was wrong :mad: the unit number is correct but not the road name :mad: I am in a fix.The installment payment is RM8000+ .i also wonder why the bank didn't actually check properly. :mad:

Sentinel
25-10-2010, 01:16 PM
One more thing Jan, don't worry so much. You will not lose any of your RM1.5 million. Just make sure you hold your lawyer responsible - just write officially to them and tell them that you hold them responsible for the entire mess coz they haven't done the due diligence diligently... and thus allowed the sale to complete and payment released despite the discrepancy in the title grant... tell them "I expect this to be resolved to my full satisfaction with no loss to me in term of monies and all this shall be undertaken at your cost"!

Good Luck!

tupai
25-10-2010, 01:18 PM
bro, it boils down to which of the ACTUAL unit did you view/ AND when AFTER viewing, did you & yr realty agent hve a look at the Grant? Did the lot number and/or address matches with the lot that you hv viewed?

Bear in mind that loyar & loan officer, rarely if ever, go to the site to verify the actual building versus the plot number in the grant. (they might only do checks with land office...and that also by offcie boy lah)

The loyar merely acted on your instructions.

So assuming, u viewed Address 123, and the grant/details (address 127) 'mistakenly' given to you and you hand it to be processed by yr loyar/loan officer ..methink you are nicely screwed! As Caveat Emptor applies.

Your recourse is of course, go back to your loyar and pay for additional fee to rectify the mistake...assuming Maybe the old fella made a mistake leh, giving u the wrong grant? then u get him to pay/share cost?? Unless, he meant to show u 123 and sell u 127! :eek:

Yang Beli motosikal aje latotupai

Rhiga
25-10-2010, 01:18 PM
I think, you only have two choices:

1. Proceed with the purchase i.e. buy the shop lot which is 50m away and insist all the legal and transfer cost associated with the purchase of this unit should be paid by your lawyer.

2. Cancel the purchase, lodge complain to Bar Council and sue your lawyer. But, all the monies you have paid for legal and stamp duty will go to drain (before you win the case).

Sentinel
25-10-2010, 01:20 PM
Even in the s/p agreement the add was wrong :mad: the unit number is correct but not the road name :mad: I am in a fix.The installment payment is RM8000+ .i also wonder why the bank didn't actually check properly. :mad:
Don't worry about the bank instalment etc or whether their lawyers were also sleeping, quickly sit down with your own lawyer and hold them responsible and in no uncertain terms tell them you will be seeking recourse from the Bar Council and the Association of Banks if they do not resolve this el pronto! I will be down Thursday Jan, 2 Lattes and a Davidoff Cigar should be able to get me to chat with you and your lawyer at my hotel....... :D

cskok8
25-10-2010, 07:13 PM
Even in the s/p agreement the add was wrong :mad: the unit number is correct but not the road name :mad: I am in a fix.The installment payment is RM8000+ .i also wonder why the bank didn't actually check properly. :mad:

If the S&P has the "wrong" unit in it, then you have just agreed to buy that "wrong" unit. :eek:

jan tomaswaki
25-10-2010, 10:35 PM
If the S&P has the "wrong" unit in it, then you have just agreed to buy that "wrong" unit. :eek:
The S&P stated the address of the purchase unit,although the land grant stated other unit,which the damn banker and lawyer didn't take the trouble to check initally.It is totally not my doing.It was advertise the unit i buy and not the mix up unit.I really need to thank the valuer who the last to come in to measure the unit and found it wrong.If not...damn.

zinglicious
25-10-2010, 11:51 PM
I think it is a misleading job that luckily you didnt end up in some Klang River. Not only it was purposely advertise wrongly, but the owner is 88 year old. Either it has some hidden muscle hands behind him or he simply the top cat who has perfected his whichcraft.
The down payment deposit that you paid is to secure in earnest which I believe if the deal is screwed up, you are entitled for the compensation of the same amount and since this is deliberate "mistake", you can sue for the loss of stamp duty or other heavy duty.
Either it is from your lawyer which he is paid to do the job with due deligence or the other lawyers who try to throw you into the river of no return of investment with elements of cheating or material misrepresentation in the "mistake".
Order a Steak, and you got a buffallo meat? It is a Big Mis Steak where you are forced to eat it and billed under Wahyu price. :eek:

megatron
26-10-2010, 02:05 PM
Bought a old shop lot for RM1.5m .The bankers,lawyers and sellers have all done their part after six months,until the valuer said the land grant was not the unit i bought :eek: :mad: What to do next?

1) Just buy the unit as it is just 50m away from the original one
2) Sue him for misleading but the owner is 88yr old
3) Sue the his lawyers and bankers.

Forummers pls advise as i have 2 weeks to decide but i also check whether this old man has two units and he want to sell the diplated one to me :mad:


Borrowed from Dr Porntip, it's 80% con job 20% innocent mistake.

kensu
26-10-2010, 09:03 PM
The bank is also at fault. Which property are they securing ?
Negotiate with the seller to settle --- maybe a genuine mistake ??
Do a search on the actual property to see if it also belongs to him.
If he doesn't want to negotiate and he is the owner of the actual property.. then he is definitely out to hoodwink the buyer.

Whichever, you will still need to rectify atters and put the documentation right. Get all who stands to benefit from this to PAY :(

jan tomaswaki
27-10-2010, 08:04 AM
The bank is also at fault. Which property are they securing ?
Negotiate with the seller to settle --- maybe a genuine mistake ??
Do a search on the actual property to see if it also belongs to him.
If he doesn't want to negotiate and he is the owner of the actual property.. then he is definitely out to hoodwink the buyer.

Whichever, you will still need to rectify atters and put the documentation right. Get all who stands to benefit from this to PAY :(
THanks for all advice..yeah the bankers and lawyers are the responsible one.They didn't take the trouble to check.Yesterday the banmker call me..Full of expletives to them until they hang up the phone. :mad: :mad:

zinglicious
27-10-2010, 08:18 AM
What explosions are you going to throw to the lawyers handling the transaction to ensure all the papers and dociuments are done correctly?
Get the best lawyer in town, some say the best in KL, and Putrajaya too. Her name is Sue Law Ann Win. :D

bzjude
27-10-2010, 03:19 PM
Jan, whilst you are clearing up this mess, may I suggest you put a caveat on the original property. This will prevent it from being sold whilst you are trying to wrest for it. It'll cost you RM324 is all. Do a land search on the mixed up one at the land office. That'll only be RM30. These I learned from a lawyer friend. There are so many weird stuff happening that it's unbelievable.
I'm afraid 'caveat emptor' is very real and will prevail. In any purchase of property, the title/grant in very very important and it should marked the layout of the unit in the row/area and state it's usage ie residential, commercial etc and any 'syarat'. Even the land it sits on is important. Imagine if you own the building but someone else owns the land! Then it's a habis cerita :( ! That's the take in law I'm afraid. The land owner is almighty here.
To those who own land, please take time to do a land search from time to time. Fraud cases are so ordinary nowadays.
Yes, your lawyer and banker didnt do their due diligence. Good luck!

tupai
27-10-2010, 06:13 PM
setuju 100%. Quickly put a private caveat on this property until things get clear up...

In property deal with signs of going sour, subscribe to the maxim:

~ Never in a property deal was so much jammed up by so many gobbledygook to just a simple caveat ~ Another beardless Sage up yonder other mountain :p

Yang Beardless latotupai