Are you sure stating that you bought the house for RM150k when you are buying it for Rm100k to get more loan is a good idea? I dont think so....here's why: -

1. You have to state your price of Rm150k in the S&P aggrement. And upon signing, you have to pay 10% of value...meaning RM15K. So say you make verbal agreement with the seller earlier that the actual price is RM100k, but later the seller decide to screw you and say that misunderstanding...actually RM150K....then you either lose RM15K by not buying(forfeit deposit) or cough up somemore RM 135K....

2. S&P Lawyer's fees is based on value of property transacted. As S&P is stated RM150k, it'll be based on RM150k

3. Stamp duty is also based on property value....and as per no 2.

4. Loan agreement Lawyer's fees & stamp duty are also based on loan amount, so same as 2 & 3.


minolta