When purchasing a house in Malaysia, purchaser requires appointing a Sale & Purchase (SPA) Lawyer to represent them.
A good SPA lawyer is crucial in this situation because the moment you start buying a house, and if you’re not careful, you might fall into a deep hole that orchestrates by the property agent, seller, and their lawyers.
The most common things will be convincing the purchaser to use seller lawyer and telling them that SPA is a standard document.
A lawyer will not agree by saying SPA is a standard document. If anyone telling you this, then they actually lying to your face.
There is no so called “standard SPAs” unless you are purchasing an under construction residential property whereby the SPA under the Housing Development (Controlling and Licensing) Act shall be adopted.
The role played by the lawyer is to explain and advise the purchaser on each term and condition in the SPA as well as to protect the purchaser’s rights and interest in the transaction.
Lawyers owe a duty of care to their clients. Clients may sue the lawyer should the lawyer breach duty of care.
When a seller is introducing their lawyer (X Lawyer) to a purchaser, the X lawyer should represent you, not seller.
However, because X lawyer has a close relationship with the Seller, there is a concerning issue pertaining to the interest of you as Purchaser.
Will the X lawyer protect your interest? or the seller interest? Legally they should protect your interest, but how about in reality?
There are only two reasons why a seller wants to introduce their lawyer to you. That is because the lawyer fee is cheaper when you’re using their lawyer and they can safeguard their interest by using someone they know.
But, the most important question, how about your interest as a purchaser? Who will protect it?
There is a solution to this. Before putting down a booking fee to agent or seller, mention that you’ll be using your own lawyer.
Someone who is not related to seller or agent, someone you can trust or recommend by your friends, family or people you trust.
It’s important that the new Lawyer is diligent, responsive and efficient. A big and stable lawyer firm with financial stability will be good.
Lawyer firm that not going to run away with your money. Yeah, you hear me right! There were a few cases happen in Malaysia and it was all over the news.
Just in case, if you need a recommendation of a good SPA lawyer firm in Kuala Lumpur and Selangor, feel free to contact us as we’d love to help!
If you would like to request for:
Sale And Purchase Agreement Malaysia
Loan Agreement Malaysia
Quotation please feel free to fill up the request form below.
Yeap! It’s Free!