It is not legal and people are being prosecuted in Singapore.

So far I have not heard any being prosecuted here in Malaysia.

Legal cost may not increase at all.

For my case:

Market rate RM120k
RM100k cost
Loan RM100k
SAP stated RM120k

In the event SAP stated RM100k, tax will still base on RM120k market rate.
Just in case the seller decide to pull something dirty, I got a cover letter stating selling price is only RM100k and not RM120k stated in the SAP.
That letter cost me RM250.

Sorry to ks you. (kill steal)

Of course, there is still another way to get a full loan.

Purchase the property with cash and re-furnish the place.
Get an evaluation with a higher price and re-finance it.
Ongkl have done it if you visited his blog, he got the cash by working with other investors.

Do note also, re-financing a property will prevent you getting the tax advantage of counting interest payment as an expense. Also stated in his blog.

His property is not purchase below market price but at market price.
He put a lot of money into renovating / furnishing to push the value up.
Hence getting a higher loan.

Zero cost loan maybe the answer but I have not done that before.

This post has been edited by jasonhanjk: Jul 14 2009, 05:45 PM

Return of Investment of Cash on Cash Return exceeds 20%.
His rental per month increase to RM1300 fully furnish from the normal RM600 non furnish.

I bought the same apartment as his, literally his my neighbor.

The link to his blog.
http://reijb.com/increase-return-investment-property/

RM125k cost for the apartment.
Furnishing cost, legal and brokerage fees to RM14,000 and RM5700 respectively.

On the side note.

Singaporean buyers mark up the selling price so that they can withdraw more money from their CPF. While giving a portion to the agent.

This infuriate the Pay And Pay government.

Here is another legal method, seller finance.

Normally you as a buyer, would need to fork out 10% and the bank pay the other 90%; to the seller.

What you need to do is ask the seller to pay for that 10% first and pay him back using installment. The SAP price still remain the same but you manage to borrow 100%.

Take a loan from the seller, pay him back in 5 years time with 5% interest or even higher.
It's definitely better for the seller to put the money back in the bank for 2.5% FD and he got his property sold.

This post has been edited by jasonhanjk: Jul 17 2009, 08:28 PM

The author this time is not Robert Kiyosaki, it's Dr. Dolf De Roos from Australia.

Robert will emphasize a lot on coming up with that down payment.
He believe if one cannot fork out that money, there is something wrong with his / her financials.

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Added on July 19, 2009, 10:00 amYou mean the legal fees for the seller?
Which are?

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Added on July 19, 2009, 10:02 amYou may need to ask the lawyer how to draft out this agreement between you and the seller.
Go get good competent advise.

This post has been edited by jasonhanjk: Jul 19 2009, 10:05 AM

The fastest buying record I know is 20 unit in 18 months.
and
The youngest investor to buy a house is age 17.

Just remember to have some reserve in case it went wrong.