QUOTE(AmayaBumibuyer @ Feb 8 2014, 10:41 PM)
Well such prophecy wont happen here thank God. All these derivatives are banned from my banks.
about the bumi lot right...
i got something here, before you can sell the 2 units of bumi lots right... to non bumi..
like this 2 restrictions before can transfer to non bumi (i assume you know):
a) first of all be able to transfer, the bumi quota must be satisfy first,
example: let say amaya got 100 units, quota for bumi with 7 percent discount, 30%(30 units must be allocated or sold if unsold let it vacant till sold) is allocated to bumi. let say amaya now only have 20% (20 units only) bumi and you want to sell to non bumi, no consent will be given by KL land office meaning you cant transfer to a non bumi( but if selangor, our Khalid wont give consent)
only upon you have satisfied the bumi quote in amaya only you can dispose to non bumi.
AND
b) second restrictions is for no title case(MASTER TITLE):
that 7 percent discount bumi enjoy, say 500k amaya unit equivalent to rm35,000.00. SO WHEN you sell to non bumi, that non bumi assuming BBW have to pay the 7 percent discount you enjoy (or RM35,000.00) tothe developers on top of all the legal fees, stamp duties, 10% deposit (equivalent to 50K).
in actual fact, you need to pay rm85 k if the unit is 500k.. now since the market is 750k.. if a non bumi want to buy, it will be 75k deposit plus 35 k (discounted bumi price assuming prop was 500k first hand).. so all together 110k . 75 k to amaya, 35k to developer.
for cases with title
the 7 percent is still payable to developer even thought developer is no longer in the picture. i.e the S&P is between amaya and BBW. yes u heard me right.. need to pay to developer the (RM35K OR 7 PERCENT DISCOUNT)
HOW DO WE ascertain the lot is bumi lot or non bumi lot, in developer sales cases, the developer will notify you which unit is bumi lot.. for title cases, hmm i haven't seen example in the endorsement indicating bumi lot.. however an officail land search will reveal whether it is bumi lot or not..
mind you you must satisfy both the requirements before a bumi unit can be transferred to non bumi.. thank you correct me if i am wrong ya.. u NEED TO PAYMORE (extra 35k)..highly unlikely for bumi to buy (my guess only) .
ehh pool of buyers getting small lehh paying extra 35k.. dun report me.. this is in d book ahhh...
This post has been edited by bearbearwong: Feb 8 2014, 11:14 PM