Dec 31 2011, 08:06 PM
QUOTE(michaellee @ Apr 22 2011, 02:17 PM)
I don't think this advice is correct. Whether it is worth the hassle varies from individual. Personally, I would think it is worth it as I have been buying bumi lots. It does take quite a bit of time to get the approval but so far it has been 100% success rate. The prices given normally are around 20-30% below market rate, so personally, I believe it is worth the hassle.
Once the bumi lot is transferred to a non-bumi, then the lot becomes international and the next person can still sell to non-bumis. However, if the non-bumi sells to another bumi down the track, then it automatically converts itself back to bumi lot.
Hello, your reply has tweaked my curiousity. How long before you get approval? What kind of restrictions if any are placed on the converted property? What kind of difficulties did you face in getting the approval for the transfer/conversion to international? Appreciate you reply. Once the bumi lot is transferred to a non-bumi, then the lot becomes international and the next person can still sell to non-bumis. However, if the non-bumi sells to another bumi down the track, then it automatically converts itself back to bumi lot.
Happy Safe and Prosperous New Year 2012 to you.
This post has been edited by Neubie: Dec 31 2011, 08:07 PM
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