YOURSAY | ‘Willing buyer, willing seller, property devalued by Umno disturbances.’

Previous owner signs SD on RM2.8m bungalow, mulls legal action

Don’t Just Talk: Penang MCA and Gerakan leaders were shamelessly quick to draw their guns on Penang Chief Minister Lim Guan Eng, hoping to turn the 30-year-old bungalow at Pinhorn Road, purchased for RM2.8 million, into a political issue.

The seller of the property, Phang Li Khoon, has come out in defence of Lim as someone whom she respects.

Why did the MCA and Gerakan leaders not query their boss, PM Najib Abdul Razak, on the RM2.6 billion wired into his personal account, or the RM42 million deposits which he was allegedly unaware of?

They have no courage to do so, plain and simple, yet they expect the voters to support them come GE14.

Anonymous 2402521456737582: "She said she executed an agreement with Lim on June 23, 2014, where she granted him a five-year option tenure to purchase the said property at RM2.8 million in consideration of him paying her RM100,000."

If this document exists, it's a complete answer to the allegation.

Shibboleth: Phang, we click our heels and slap an open palm salute to you. Stand for election at Air Putih and we will vote for you. On second thoughts, better not.

Liew Lean Kut: Umno Tasek Gelugor MP Shabudin Yahaya, what is the next step? Will you then say this seller sold him the house under duress because he is the chief minister of Penang?

It may not stick. You will have to come out with something much better.

Anonymous_1371515574: If I could afford it, I would certainly sell my home to someone I respect without making any profit out of it. Call it a "donation" if you will, but it’s not a "donation" because Lim paid for it.

Now, can Najib get the Saudi prince to come out and issue a statement like this?

Unspin: If one was to take a virtual tour of Jalan Pinhorn using Google Street View, one can conclude that the price of the CM’s house at RM2.8 million is just about right.

There are some houses along the street that are extensively renovated which might fetch a higher value but there are others (especially the three houses opposite the CM’s house) whose value might not even come close to RM2 million.

One wonders where the Umno clowns get their RM6.5 million valuation from.

Hplooi: Willing buyer, willing seller is a difficult issue to tie in with corruption (or illegal inducement with undue influence).

So long as the price is not too far off, for example, if published norm is RM400/sq ft and seller willingly sell at (say) RM300/sq ft, then it may still fall within the willing buyer/willing seller principle.

Of course, in former Selangor MB Mohamad Khir Toyo's case (RM3.5 million against proven cost of RM6.5 million bought by the 'middle-man'), a nexus has been proven between inducement and influence.

Back in the late 80s, I bought my house from my landlady for about RM250,000 (corner lot 5,000 sq ft). It would have probably cost RM300,000 to RM400,000 if I went through an agent (back then intermediate terrace houses in PJ were peaking at RM200,000).

But why did she sell to me at this price? We were not related or even close friends. (1) I had been a good tenant for the past five years. (2) At that particular time, she needed money to send her offspring for studies. So the deal was concluded.

Goldee: Some idiots think everyone is like Khir Toyo. This bungalow is sold at RM2.8 million (bought by the seller at RM2.5 million) whereas Khir's Balinese mansion was bought by the seller at RM6.5 million and sold to then Selangor MB for RM3.5 million. There is no comparison.

If the price of properties in Jalan Pinhorn are between RM3 and RM4 million, for Lim to buy one at RM2.8 million is a good deal.

Prices of properties fluctuate and depend on negotiations. In the case of Phang, she had asked for RM2.8 million which to her, was good and fair value. Only idiots and the corrupted would think otherwise.

Discovery: There is a double-storey end unit in Tingkat Besi Island Park, Penang, which was sold for RM850,000 in June 2015. I had wanted to buy the house but was too late as an option had been given to another buyer.

The house would easily worth RM1.4 million but the owner was just asking for RM850,000. Did the successful buyer commit a crime by buying it at RM850,000?

It was simply a willing seller-willing buyer issue. They are trying to divert the 1MDB issue so that the public get distracted and hopefully forget about it in time for GE14.

Maplesyrup: As a property investor, I have bought a property at great discount (30 percent) from the market because the seller does not know the market value and was in need of cash.

A year ago, a house in Petaling Jaya was sold for about 20 percent discount because the owner was not aware of the market value. In fact, the prospective buyer brought a lawyer along to seal all the documents once the viewing was done.

There are many reasons why a property is not being sold at normal market value. Corruption is not the one and only reason.

Asuka: Lim is telling lies when he says he does not know the market value of the bungalow. Take Hakam president S Ambiga's advice and take leave.

Curdle: Most of us would recognise this sort of situation where people we like and respect, are worthy of extra consideration within our means. Most normal people are capable of everyday acts of generosity and goodwill.

We can well understand why Phang would feel honoured to sell her home to Lim, even if she were not a personal friend. The situation only seems abnormal and questionable to the fundamentally evil people in the ruling coalition.

Tan Kim Keong: There you go. Full disclosure. How is it that such disclosure is not forthcoming from the person who is involved in the country's most scandalous corruption allegations.

Come on, Umno. Focus on integrity, honesty and justice.

Neutral Point: Now if only the Arab donor can sign a SD stating that he deposited the money into Najib's account because Najib was the most respected politician in Malaysia and he was willing to let Najib to use the money as and when he wanted, and he could also return the money back to him if he didn’t need it anymore. Case closed.

Curdle: The other thing that struck me as extremely admirable in this story is the fact that Lim worried he would not be able to afford the purchase if he was not re-elected chief minister. How great is that?

No secret bank accounts, unexplainable deposits or hidden pots of money - just like us normal people.

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