for future update, i already found information that i think is useful.
crucial information already updated in the first post.

Few things to keep in mind when selling a property:

1. Agent Commission
Normally agent charge is 2%, 2.5% or 3%
Mine was charged 3% but i managed to nego and further reduce to 2%
Note: if u can sell without agent, u no need to pay for the agent commission.

2. Legal Fees
As follows:


But since my agent is using the same lawyer for buyer and seller, the terms & condition & paperwork is repetitive.
they can do simultaneously, so legal fees are paid by the buyer.
Seller only pay the remaining portion of it. in my case, i just need to topup RM1,000 + 6% GST.
Note: actual cost will be update once i received the final quotation from lawyer.

3. Consent Fees
lawyer will charge u a consent fees if there is need to apply/transfer for consent from land office.
this cost will be added to the legal fees. luckily my property dont require consent

4. Real Property Gain Taxes
First 3 years - charged for 30% of net gain
within 4 years - charged for 20% of net gain
within 5 years - charged for 15% of net gain
more than 6 years - no RPGT
Each individual can have one RPGT exemption per lifetime.
anyone know how to apply for this? or will it be automatically waive during the selling process?

5. Property Insurance
Remember to cancel or transfer the insurance under your property, especially if its under MLTA.
Wait until the deed has transferred and you are legally no longer bound to the house before cancelling it.
Cost impact: still searching. Anyone has experience on this? what if we forgot to cancel the insurance?

This post has been edited by suadrif: Jul 26 2015, 07:57 PM

would like to ask, if i purchase a condo with RM600k, 90% loan with 35 years tenure.

I wonder if i want to sell the property, how much does the property value need to reach at in future in order to give me return instead of loss.

If i pay more $ over the year does it mean I more rugi? Should i sell fast once certain value is reach within few years?

your condo is for own stay or rental?
if rental, you can get the profit back on monthly basis if your monthly payment is lower than your monthly income

what if own stay?

I plan to sell my unit. First time seller. Any suggestions to determine a good selling price?

check on few online sites such as Mudah.my, Star Property, Property Guru, or iProperty.
maybe there are some other else that i don't know

bear in mind that the price u see is not the market price.
Most of seller jack up their price about 30% higher than market value.
try to have a look what is the minimum selling price and maximum selling price.
and then u decide to sell your property within that range or above that range.

if its for own stay, then u may expect at least 50% of your purchase price
to be exact:

Selling Price > Purchase Price + S&P Lawyer Fee + Maintenance Fee + Monthly Commitment + Renovation Cost

Saudrif

How about the price of bank valuation? Is the market price follow the bank valuation price?

L

price valuation = market value

i dont understand with your question. could u detail it little bit?

price valuation = market value

i dont understand with your question. could u detail it little bit?

price valuation = market value

i dont understand with your question. could u detail it little bit?

Hi, Just to correct some points on yr sharing:

4) Once you reached the first day of year 5, then you're exempted from rpgt. In simple, 5 years day 1... doesnt need to wait until the 6th year.

For the rpgt waiver, if you didnt inform your lawyer to prepare for you, normally they wouldnt proceed for you. This would be attached together with the ckht form you sign. So it wont be automatically waive ya. Need to inform yr lawyer to prepare and submit for you.

Bank gives a valuation price of property for mortgage purpose. Sometimes the price on mudah, iproperty is different with markup. Is bank valuation price normally benchmark price? Sorry for confusion.

Bank gives a valuation price of property for mortgage purpose. Sometimes the price on mudah, iproperty is different with markup. Is bank valuation price normally benchmark price? Sorry for confusion.

I am looking for an agent to sell off my property but most of them doesn't caryy REN/REA tag. Most of them show me their name card instead of the tag. Anybody can share what is the differences between them?

1. Real estate negotiators are not real estate agents

Most Malaysians assume both are the same, as they both seem to be doing the same job. In reality, they are both different professions.

Real estate agents must possess a certain level of experience, knowledge and education before being granted a license by the Board of Valuers, Appraisers and Estate Agents. A real estate negotiator on the other hand, is not required to.

To maintain their estate agent license, all licensed real estate agent must take additional continuing education courses yearly above and beyond that which is already required.

Usually a real estate agent will have a few negotiators to help service their clients, but it is always best to ensure that you deal with an agent.

Source: iMoney.my

thanks for the correction and accurate info
will update it for people references in the future

1. bank valuation price is depending on valuer price.

2. Valuer price is different subject to the valuer interpretation of the asset but normally it does not differ too much. in my case, two different valuers give price different only about RM10k for a 300k property.

3. valuer normally use previous sold price as their benchmark.

4. price found in mudah, iproperty is a selling price which often owner mark up for getting extra profit.

Real Estate Agents = with license

Rela Estate Negotiator = broker

yes. something similar to that