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Bumi lot to non-bumi, Bumi lot to non-bumi
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AMINT
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Apr 11 2013, 10:41 AM
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QUOTE(ryukeong @ Apr 11 2013, 10:35 AM) As i know it can be done, but the process very difficult and will take very very long time.....good luck on this +1 It can be done.But you have to provide evidence that you have been trying hard to sell to bumi and could not sell. But non-bumi die die wanna buy your house. Also show that you already bought another house to live and could not sustain by paying the installments for both. Write this in a letter. However do take note if you have multiple houses, they wont layan you. so u have to be smart.
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AMINT
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Apr 11 2013, 12:25 PM
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QUOTE(wanchenghuat @ Apr 11 2013, 12:20 PM) +1 yes can. We bought over a bumi lot before. 1 year to wait. As mentioned above, the owner needed the money for his chemotherapy.. cant sell the house to bumi as no buyers at the price.. furthermore we buying by cash.. so no need scared bank loan not approved.. the owner had to provide a lot of evidence that indeed he has cancer and needed the money to treat his condition.. as far as i know, medical reason to sell is the highest rate to get approval.. yeah medical reason can get the highest but how to use that if really dont have any health issue? anyway, i pity the previous owner that you mentioned. maybe he truly needs the money. i hope he is doing ok now
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AMINT
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Apr 11 2013, 05:00 PM
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QUOTE(kamilnu @ Apr 11 2013, 04:31 PM) Headache...headache. I'm a Malay. Never bought a bumi unit/lot in my entire life. Got 2 apartments, 1 condo, 1 semi-D. All international lot. Bumi lot is a curse! +1 i have the same thinking as u. It is a curse
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AMINT
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Apr 11 2013, 05:13 PM
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QUOTE(tat3179 @ Apr 11 2013, 05:09 PM) Ironic huh?  Ya lor. Niat sebenar mau tolong tapi end up as a curse. Aiya
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AMINT
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Apr 11 2013, 05:32 PM
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QUOTE(kamilnu @ Apr 11 2013, 05:30 PM) Might as well cancel this bumi lot thing. If have money buy...no money don't buy. Simple economics. I'm currently working in JB until this August, then go back to KL where I belong. Situation in Johor damn worst than KL. Bumi unit allocation is 40% of total development. Buying power of bumi in JB is the weakest I believe. All bumi lot goes unsold until developer release. Sultan Johor also cannot do anything about this maa.. But me from KL BBB..... OMG. 40%?!!! What the heck. Ya i agree. Just cancel la this bumi lot and malay reserved. If really wanna help just give bumi discount enough
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AMINT
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Apr 11 2013, 06:11 PM
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QUOTE(cheahcw2003 @ Apr 11 2013, 06:06 PM) Amint I like your way of thinking, very "1 Malaysia" If u r a politician, I will vote you!! kekeke. unfortunately, i dont dream of being a politician. Just wanna invest and make money.
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AMINT
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Apr 11 2013, 06:46 PM
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QUOTE(robertchoo @ Apr 11 2013, 06:38 PM) Nothing wrong with receiving discount? You must be kidding me. There is no such thing as a free meal in this world. Everything must be earned. Otherwise no need to work, just sit at home, borrow money from the bank to buy as many property as possible (with bumi discount) then flip upon completion (at market value) Money drop from the sky?!?!? I dont think that was what cheahcw2003 meant. What he meant was if eligible to receive any discount, it would stupid if a person doesnt take it. But seriously, our politicians should look back into all this. Check out rimbayu why bumi quota still a lot but non bumi kering kontang during the launch. The bumi lot and malay reserved are not helping the non bumis and bumis.high income bumis also increasing and mostly take into consideration of feng shui, place of worship vicinity and 1 race place. Just my 2 cents. This post has been edited by AMINT: Apr 11 2013, 06:50 PM
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AMINT
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Apr 11 2013, 10:45 PM
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QUOTE(robertchoo @ Apr 11 2013, 10:09 PM) Actually that is what will happen if the gov intervene. It creates a distorted market. The best way is to abolish all sorts of race based discounts. That way, its open to a free and fair market. Lets see what lies ahead. I know a lot of bumis will oppose to this. But maybe becoz they r not wearing the bumi investor shoes.
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AMINT
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Apr 11 2013, 10:47 PM
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QUOTE(Gymrat76 @ Apr 11 2013, 10:35 PM) Just to tumpang this thread, what does it mean when the developer "releasese Bumi lots for sale"? Does that mean it will be converted to international again and I can buy without worry? This one u need to be careful. Some developer release as international units while some still bumi but released to non bumis while still bearing bumi unit. I have seen both. How to check? U have to ask the developer. In the snp also should state any restrictions if bumi unit still. This post has been edited by AMINT: Apr 11 2013, 10:48 PM
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AMINT
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Apr 12 2013, 05:02 PM
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QUOTE(kamilnu @ Apr 12 2013, 04:54 PM) From what I understand, if the construction is completed and those bumi units are not sold yet than developer can request to release the bumi lot by converting the title to international unit. Have to meet the Menteri Besar ask for his signature and then can convert. After convert, non-bumi can buy oledi. This is true. However, there are some cases developer released even before asking YB's signature. They release first and later ask. Thats why snp got restrictions at first
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AMINT
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Apr 13 2013, 08:42 PM
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QUOTE(cheahcw2003 @ Apr 13 2013, 08:39 PM) In Johor, bumi discount is as high as 15%, the catch is bumi units cannot be sold to non bumi within 5 years and this rules apply to Freehold property as well. Yeah, different state different rules. In negeri 9, bumi lot gets 7% buttttttt no way can sell to non bumi without consent even though freehold. Here, bumis also most not interested to buy bumi lots for investments. Own stay no prob
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AMINT
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Apr 13 2013, 08:48 PM
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QUOTE(cheahcw2003 @ Apr 13 2013, 08:44 PM) Good and Bad Good - Less flippers would use Bumi cards to buy low and sell high. Bad - Bumi investors can't cari makan in N9 and johor Ya lor. I was about to buy a shoplot until i knew the bumi lot. Agent never told me. Adui. Luckily i checked with local authority and confirmed with developer.
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