What you mean by Loan Runner?

Haven't you heard of cases where Margin of Loan got reduced after Valuation Report is out? If you haven't thn here it is:

https://forum.lowyat.net/index.php?showtopic=2814723&hl=

It can happen for subsale cases.

Offer Letter is given based on the information that you have conveyed to the banker, likewise the banker to valuer. They give you the OFFER LETTER based on UNVERIFIED prelim info.

If not by you, thn your banker (in order to get the sale done) may exaggerate the info such us extensively revonated, kitchen extended, car poach extended and bla bla bla.. No one comes to see to verify the info before giving you the OFFER LETTER.

After we accept the OFFER LETTER the real processing begins. Panel valuer will be sent to asses the property wether it is worth the loan amount or no. When the report comes Margin of Finance may go down compared to the initial offer which was printed in the Offer Letter. Say they cut 10% of initial offer (example RM50K) do you think all buyers will have that much of stand by cash to pump in? So subsale buyers please be aware of this!

Why valuation?
So that the bank can offload the prop at auction without loosing money when customer default the loan. If the bank unable to offload the prop, LETTER OF DEMAND will be issued to the VALUATION FIRM to pay the losses incurred cause the prop seems to be tak laku kat market having reported by the Valeuer that the value is so and so..

how long already ?

10 days left

Do you ask your bank seek another valuer ?

hi felix,

thanks for advice.

I have not checked on that part, but have a thought to combine loan with sister and she is eligible as she has higher income.
But, is it OK to buy...? Or diversify the cash in hand to other investment.

My motive oF buying now to hedge the price + investment

Looks like.. maybe need to wait till i have more $$

the choice is your, we dont hv crystal ball to tell the future.

Since you able to combine income cover the loan, is not a problem to buy the house.

When come to crisis any investment also hv risk to depreciate. The question is investor able to take the risk and hloding power of their investment to reap the profit.

House and your other investment hv different type of risk.

Buy house you still can see the physical house even crisis - as long you able to service the loan the house is your.
Buy other investment - once depreciate is paper loss, hv to wait till the market return good.

Felix offer good advise. What are you working as bro?

IT programmer aka COBOL

@super dooper kedekut and forward-looking DIY financial planner

I didnt buy anything didnt meanz i kedukut, becoz i didnt born with assest but debts for me to solved.

You didnt know my father pass away didnt leave anything for me.

Me also not much better than u, even though got house but got a zero $ in bank akaun punya dad to support. Kita sama-sama je bro

Everyone is born with different cards to play. Its up to us how we play those cards. Like Mahjong, sometimes you get many fei's and flowers; sometimes no fei and only 1 flower(not your suit somore).

Anyway, just make sure you have sufficient "Emergency Fund", then start to invest the extra to fight our biggest enemy; the inflation.

Hi. I'd like to seek some opinions about my asset allocation. I currently have the following:

34% FD
16% Savings & Current accounts
34% Shares
16% Unit Trust (Global equities & bonds)

I currently have some extra money to put aside. Which category should I put it in? Am thinking maybe should increase my bond fund.

Got invest in PRS?

I can't find the correct place to ask this question.

Sorry for trouble.

May i know is it any people can open an islamic saving account? (I am Chinese, and not muslim)

I plan to open a BSA on Maybank, but notice there is slight different on the interest/profit between normal BSA and BSA-i (minimum 0.3% vs 0.4%)

Is there any things need to concern if opening an islamic account?
Thank you

it open up for all religion. The way it manage the account using islamic compliance only.

so it will be ok i have a conventional account + conventional CC + islamic account under my name?

yes, not an issue. Islamic hv their own islamic compliance and pratice in banking.

Did you invest in PRS? I just did recently to reduce my tax, though I think it will be about 500-700 tax difference from my current tax bracket.

this month, after get my salary. imporatant is mine no service charge 3%

This post has been edited by felixmask: May 24 2013, 11:24 AM