DAP’s Sekinchan assemblyman Ng Suee Lim accepted the offer made by Dr Mohd Khir Toyo to dispose his property at RM24mil is illegal.
Dr Mohd Khir asked Ng to help sell the Mansion for RM24 mil yesterday. He said :”“If he can do this, I will give him 50 percent as commission and use the remaining RM12 mil to pay off HSBC and buy a good house in Damansara.”
In response to Khir Toyo’s offer, Ng Suee Lim requested for an official letter appointing him to sell the place. He also asked for the keys to enable him to show potential buyers so the buyers get to see what they would be paying for.
Under the standard ( Act ) provided by The Board of Valuers, Appraisers and Estate Agents , it is illegal for non-registered person to sell a property for a fee ( commission ).
Violation of government law can result in fines, penalties, injunctions and even criminal prosecution resulting in you being sent to prison.
I just can’t believe that both of these assemblymen do not know the law of Malaysia, and openly committed an illegal act by offering and accepting tender for property.
Under the act, any person who acts or holds oneself out to the public as an estate agent without a registered license and office, has committed an offence under the Valuers, Appraisers and Estate Agents Act 1981, as provided under Section 22.22C(1) No person shall unless he is a registered estate agent and has been issued with an authority to practice under section 16.
It is an offence under the Act for any person to act in contravention of Section 22C(1) set out earlier which exposes such a person to a fine not exceeding RM25,000 or imprisonment of three (3) years and a penalty of RM500 per day for so long as the offence continues.
In addition, it is also illegal to charge the agency fee at 50% offered by Dr Khir Toyo , the Scale of fee under the Agency act only allows to charge :
(1) Land and Buildings
(i) 2.75% on the first RM 500,000 (ii) 2 % on the residue over RM 500,000
The above scale applies to any sale or purchase by way of private treaty, tender or any other mode of disposal or acquisition