Hello,

1. About right, negotiate, confirm the price, and prepare check to pay the booking fees. DO NOT USE CASH as there is no paper trail.

2. ALways make sure that:

a) The booking form is as detailed as possible: address, furniture that comes with the house, check number.
b) Include important clauses such as the deposits are return unless 90% MOA/LTV loans are approved, or which ever figure you are comfortable with

3. Just the booking form, and the check. Try not to sign an empty document, where the owner has not signed as well. Let the owner presign, and not you to presign.

4. Yes if you feel suspicious about it. For some banks, you need the SPA/Title for the processing of the loan and your own SPA anyway, a good agent would have a copy of the SPA on hand.

5. The check is written to the agency (with registeration numbers and all) OR a law firm which is registered to the BAR. Never write a check to a person! There may be an exception if it was written to the owner, but there is still risks in that.

6. In Malaysia, it is the seller's market. You can try to put a clause that penalize the seller if he cancels during the booking process, but there is a high chance that they would not want to include the clause and wouldn't sign the booking form. If they cancel after signing of the SPA, that is a different story. Talk and get a good lawyer that will fight on your side. As always, don't listen to the agent's recommendation for the SPA lawyer.

7. As mentioned above, don't forget the clause such as this: "Items 1 through 3 are subject to 90% loan approval by a licensed financial institution of which the earnest deposit is returned to the Purchaser at full amount within fifteen (15) days after presenting a declined letter from a bank."