Hi guys

Any info on what are the cost involve when we want to sell a property?

Many threads are discussing on cost when purchase property but no threads discussing on cost when selling off property

So far I know is only RPGT and lawyer fee. Any else?

Update as 24th July 2015:

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: Aug 20 2015, 09:28 AM

Agent fee if u using agent.

For Vendor, generally, the main charges will be as follows:-

(1) Legal fees for Sale and Purchase Agreement - if you decide to appoint your own lawyers - highly advisable to do so, otherwise, the SPA will most definitely be one sided in favour of the purchaser.
(2) RPGT - the tax itself (if applicable) and the legal fees for submission of the RPGT forms (will still need to submit forms to LHDN even if no RPGT payable);
(3) If property is still assigned/charged to the bank, you will need to pay for the legal fees and disbursements for the deed of receipt and reassignment/discharge of charge.
(4) If state authority consent is required, you will need to pay the legal fees for the application for consent as well.

There could be other charges, depending on the case at hand.

This post has been edited by jason1986: Jul 3 2015, 07:14 PM

Which one is costing more? Used the same lawyer or me appoint my own lawyer?
And for LHDN, let say I apply for RPGT exemption, do I still need to pay income tax? I really hates when my income got slashed for 25% for nothing

Manage to nego from 3% to 2%

Of course it will be cheaper if you use the same lawyer as that for the purchaser as you will not be charged legal fees for the drafting and negotiations for the SPA. However, you will be unrepresented for the sale and purchase transaction. As I have mentioned previously, your interest might not be safeguarded as the lawyer is acting for the purchaser and not you. The lawyer will be merely assisting you in relation to other matters such as for filing of RPGT, state consent etc. SPA will definitely be one sided.

RPGT is not income tax. RPGT = real property gains tax, i.e. tax on the gains you make from the disposal. Two different things. Seller is entitled elect for a once a lifetime waiver provided that the conditions are met (must not have used this waiver before, property must be residential, property has been occupied, either by the owner or tenant, CF must be issued). Will need to provide copy of CCC (previously known as CF) or telephone/water/electricity bill as proof.

Hope this clarifies.

This post has been edited by jason1986: Jul 3 2015, 07:33 PM

Jason, you look well versed in Properties transaction... Mind to ask you're an agent ? Investor? Lawyer?? Or banker??

Anyhow, when you ride on the buyer's lawyer doesnt meant the whole SnP would one sided towards purchaser. Seller still have the right to request a draft SnP from the lawyer to vet through before the signing date and make some amendments if he/she felt its too unjust... Subject to the owner is free to go through the whole SnP and digest it one by one. This way might saves you some little bucks..

This post has been edited by Tavia88: Jul 3 2015, 11:19 PM

I see
Understood little bit more now
But one thing is, after sold the property, I won't be charge for income tax?

Another thing is, my agent mentioned that deposit 2% will be hold by agency and 8% is direct to owner. Is that mean I will be charged 2% for agency fee and then later another 2% for agent commission? Isn't that too much?

Normally 2% booking fee paid will be held by the agency n balance 8% to be paid to the seller upon signing of the SPA. That 2% paid to the agency = the agents commission lahhh.

No income tax for disposal of property. If u make money from the disposal, it is = gains. Not income. Rental income will be subject to income tax. Gains subject to rpgt.

This post has been edited by jason1986: Jul 4 2015, 09:05 AM

Your statement is based on the assumption that the vendor knows what to look out for. Further there are other matters to take note if the vendor does not appoint their own lawyers. For e.g. the purchasers lawyers can play around with the timing involved and that the vendor's security documents will be held by them instead of released to them only upon certain conditions being met. They will also be holding the stakeholder monies. Not so simple. Hence my advice is still to get your own lawyers. For me, I will just factor all these costs into the selling price.

ok thats confirming something
at least i know that agent is bullshitting me for the other 2%

Depending on area, I can recommend u reliable agents. Lots of crappy bullshitting agents around.

Reliable agent is one thing
Marketable agent is another thing

Many agent come to me for selling the house but not all can bring buyer.

True. Don't get me wrong ya. I am just sharing contacts that I have if you need it. Have used this team of agents before and they were able to get things done for me.

Cheers.

Its ok I completely understood your point
Thanks for willing to share
Since u r also in selangor area, might need it in future

In the meantime I need to resolve the issue with this extra 2% with this agent

Hi Jason,

When property agent can claim the 2% commission from seller? is it After both parties has signed the spa OR After all process is done and vacant possession is passed to the buyer?

This post has been edited by propusers: Jul 10 2015, 03:41 PM

+1
jason1986 i also want to know for above statement
what if the transaction unsuccessful? do we need to pay 2%?

Standard procedure, once the SPA is stamped then they will claim the 2%.

Except with special clause in the Booking form where the seller and the agent come to mutual agreement to only claim the commission once the title name transferred to the buyer. But these type of arrangement normally most of the agent wouldnt agree. The most secure's part that i saw i when the property is from bumi to non-bumi so they agree to only claim the commission after the consent to transfer obtained.

Hope the above clarification helps.

Tavia has graciously answered your question.

yes, really depends on the agent and how much effort he is putting into selling your property. But in most cases, since you decide to go cheap on agent fee and not paying the recommended 3% fee listed by the BOVAEA, it probably won't be in the agents first interest to market your property. It is important that there are other cost such as marketing fees, petrol, calls and time used by the agents which the seller is never aware of. These hidden cost are not cheap and obviously everyone needs to cari makan
A good agent should be able to negotiate your property at a good price and never appoint an agent if they complain their asking price is too high! That's just very unprofessional and they should do their best to accomodate your requirements.

There's loads of phony agents/negotiators out there so make sure you check if he has a REN/REA tag and look up there REN/REA number to check if they're actually registered agents!

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

Normally bank valuation for your property always lower than the market value/price. Or near JJPH. LOGICALLY Bank need to make sure it able to recover it's loan given to you and sell through Auction.

If I sell my house to my neighbour, obviously without any negotiator/agent, how does the booking fee work?

I understand that I'm entitled the 10% upon signing of SPA, but surely there must be a booking fee to lock in the agreement before SPA. But who is to prepare the booking documentation? Who is to hold the booking fee? Anyone can share?

in my previous transaction, we just had 1 piece of A4 paper and put both signatures there as a proof of booking fee
seller take the booking fee
bring receipt to lawyer
sign SNP
seller collect remaining 10%
lawyer settles everything
seller collect remaining balance

Noted with thanks.

make sure u put note either it is refundable or not
and the terms n condition is clear

Want to ask, residential property with 2 owner, 1 of the owner want to sell but the other refuse. Is it possible to sell the house?
Any1 experience?

not possible..

No. Cannot proceed.
U must have mutual agreement to sell the house because the snp will need both owner signature.

double post

This post has been edited by suadrif: Oct 7 2015, 12:34 AM

Just do up an offer to purchase. I can give you my template if you want.

person wrongly quoted?

achimya who ask actually. but jason1986, could give to me to? tq

Those who want the template please PM me your email address. I will have it emailed to you.


This post has been edited by jason1986: Oct 9 2015, 09:42 AM

what is the seller need to pay if selling the property other than the 2/3% commission to the agent?
any other lawyer fees needed?

Yes, there will be legal fees.

If you appoint your own lawyers, you will need to pay for the SPA legal fees.

other fees include the following where applicable:-

(1) filing of CKHT forms;
(2) discharge/Receipt and reassignment;
(3) application for state authority's consent; and
(3) disbursements in relation to the above.

hi appreciate if u could elaborate more on the seller lawyer fees?

Erm.. what else would you like to know?

Ball park cost of hiring a lawyer? Plenty of lists but I don't see mention of estimation of legal cost.

Do you know roughly how much is the application for the state authority's consent? Property is leasehold s/s located in KL.

depends on the property
mine last time was RM1.2k++

Legal fees will be 300 for properties above 45k.

Application fees will be 50 and registration fees for the consent will be 50. This will be borne by the seller and is to be paid to the land office.

The rest will be disbursements. Travelling, printing, photostating etc.

This post has been edited by jason1986: Dec 17 2015, 02:06 PM

I know it is not important for us Asian or here in Malaysia but in the US there is a law
that the property has to be declared if there was a death or not by the previous occupant

meaning anyone pernah mati before or not at the stated property

in Malaysia there is no such rule right so how does a new buyer find out?

What kind of property? Condo or landed?

Unable to give a proper estimation as it depends on each case.

In respect of a seller, the bigger sum will be the SPA legal fees.

At this moment it is as follows:-

SPA Legal fees is calculated based on the purchase price.

First 150k will be @ 1%;
next 850k will be @ 0.7%
next 2 mil will be @ 0.6%
next 2 mil will be @ 0.5%
next 2.5mil will be @ 0.4%

There will be other fees and charges depending on whether title issued, whether consent required, whether there is an existing loan etc.

If title issued and consent required, legal fees will be 300.

If there is an existing loan, Receipt and Reassignment + Revocation of PA (no title case), fees will be 400. If Discharge (title case), fees will be 300.

Filing of CKHT Forms, fees will be 300 per person.

The rest will be disbursements.

This post has been edited by jason1986: Dec 17 2015, 01:53 PM

No way of finding out unless you ask kepoh neighbours.

askig neigbors is not effective

a lot of time people don't know either or just keep to themselves

its not like there was a suicide or murder that people will KP about it

but potential buyers have a right to know bcos supernatural matters are real and not only
in the screens of tvs and movies

high rise property in Putrajaya prime location
but anyway i think jason1986 reply is more accurate
my statement was an estimation based on last transaction.

Sorry, no way to find out. If you belief in such things, maybe bring a sifu?

Your quoted sum could be inclusive of the other disbursements (traveling, printing etc) which are not fixed. For e.g. firm in KL but Land office in seremban, transport will then be higher. So not to say that you are not correct.

Have amended my statement to make that clear as well.

Hello,

jason1986
suadrif
alchmiya
and
others

All of you still here?

Can sample how to prepare the booking documentation?
What important terms and condition want included in 1 piece of A4 paper and put both signatures there as a proof of booking fee to make sure is serious true buyer?
Thank you.

This post has been edited by yourinfohere: Dec 27 2019, 02:41 PM

SnP can be signed within a week including title search if is a serious true buyer.

Thank you for your reply, but above wrote normally seller ask buyer booking fees and sign booking form first, If not want find agent, need DIY, then seller can bring booking form to lawyer settle all. I think the lawyer will start charge seller fees, but if the buyer want cancel or unable of loan, seller still need pay to lawyer and others, so the booking fees is cover the seller lost and if everything alright this booking fees finally minus total amount, just buyer pay early to seller. Serious true buyer sure able and willing pay it.

I think want consent approval, this want wait long time process, so in this situation still after buyer sign SNP, seller can immediately get money(Bank Draft?) through seller lawyer(I think seller and buyer better separate find different lawyer?), then the house belong buyer, so the seller want move out everything of the house? This is mean after success find buyer, then just 1 week time, after done of SNP and seller received full amount money, seller want make sure ready move out everything of the house?

Normally, lawyer not do change utility bill name such as electric, water.... After sold the house, if the buyer not go to change utility bill name, finally buyer not pay it, this can how? Before or process sell the house, not possible change name to buyer, but after sold the house, seller how can cancel above name, this is mean want buyer responsibility of above bill payment and want make sure the buyer or new owner go to change utility bill name?

Except above, which part want special careful?
Above I not sure and I still consider many situations, hope unknown can tell me. Thank you so much.

1. Is your purchaser agreeable paying you the earnest money pending signing of SnP? In every cases that I know, most purchasers would prefer paying the earnest money to a lawyer or a real estate agency as stakeholder pending title search.

2. No legal firm will instruct purchaser or bank to release the balance of the purchase price to vendor before consent approval. So shifting out within a week is not possible.

3. Your buyer have to do new applications for electricity and water account. You can terminate it anytime after moving out. Not necessary to go together with purchaser.

This post has been edited by mini orchard: Dec 27 2019, 11:47 PM

Really Thanks for your reply.

If buyer not willing pay booking fees, seller how to ask lawyer start process consent approval -> seller loan -> SNP -> seller received full amount.

Normally, consent will approval but need wait long time at least 9 months.
This is mean seller still can stay everything approx. 6 months till "SNP -> seller received full amount"?
If not approval I think this is seller problems and mean this house not possible sell?
If same area others success sold, how can others do above?

May I question?
The seller before sale one consent house, must have another house? But the seller only one consent house and consider after sold this consent house, rent one room and future don't know.

If above mentioned not problems, then the problems normally come from buyer, no want wait consent approval, unable get load, change the mind....

Require booking fees important to serious true seller.
Seller just consider take 5% booking fees and down payment also need 10%, the true serious buyer sure able and willing payment.

I also don't know wrong or not, but thank you so much.

This post has been edited by yourinfohere: Dec 28 2019, 12:48 AM

I forgot below.

But the utility bill name such as electric, water.... not under the seller name, the seller before also not change name but keeping pay, so this can how? Now, if the seller is sell the house, hope can settle above situation, want make sure buyer will change the owner name. This is mean if sold out, want make sure full transfer without any future problems.
If buyer owe utility bill company, this possible ask and old owner and their relative, but the old owner and their relative not should responsibility of above and don't know above happen, but the buyer owe the debt of utility bill company is possible rolling like snow ball, then the owner and their relative maybe till check CTOS... record, then know above.
So can you give some advise? or opinion of above situation.

Seller really install basic needed, paint, renovation..., before this house not require bill proof, so this RPGT minus renovation fees will hopeless. This is mean only can minus starter house price, agent fees(maybe) and lawyer fees?

Thank you for your help.
Mini Orchard, hope you have a nice day.

Once SnP signed, 10% (inclusive of the booking fees) is paid to the seller. After that, your lawyer will only proceed to apply for state consent. If the buyer decide not to proceed with the purchase for whatever reasons before or after consent approval, then you can forfeit the 10% and the sale is consider aborted.

On the other hand, if the state consent for transfer is rejected or exceeded the time duration stated in the SnP, then you have to refund the 10% to the buyer and the sale is considered aborted.

Partial legal fees have to be paid by you for work done if aborted by buyer or seller due to above reasons.

Once the sale is completed, i.e. full payment received, the seller must deliver the house to the buyer.

In normal state consent, approval is not an issue unless you are a bumi and selling to other races or the state govt has intention to acquire your area for future development.

This post has been edited by mini orchard: Dec 28 2019, 06:55 AM

For utilities, buyer can change name immediately upon new application. Dont have to wait for seller to terminate the account.

As for your case, since is still under previous seller account, you settled ALL outstanding bills before moving out so as not to cause problems to your buyer. You cannot terminate the accounts UNLESS you do 'new' applications and terminate. If the new buyer dont pay the bill, the utility co will disconnect supply. Utility co have records of usage and payments and can check with SnP date in any 'disputes' of the buyer.

As for rpgt, you can only claim for deductions with bills. On the other hand, if for residential properties, a seller can elect for rpgt exemption ONCE in a lifetime.

Thank you so much, Mini Orchard.

If the process is below
1.)Letter Option to Purchase/Booking Fees (prepare a 2% deposit)
(->Within 14 days purchases must signed S&P.)
2.)Signing S&P Agreement (prepare a 8% deposit)
(->Within 3 months. But if purchaser fail to settle the remaining 90% can allow purchaser more 1 month extension.)
(->But for seller, if fail to get consent or delay, want make a new S&P, this cost seller again and again with new s&P?)
(->Seller need pay the stamp duty and RPGT, but if purchaser fail to settle or seller fail of consent, then seller can get back stamp duty and RPGT? The lawyer fees sure must pay.)

My problems is normally
Freehold - Waiting time min 3 months to get consent
Leasehold - Waiting time min 9 months to get consent

You wrote after "Signing S&P Agreement" can proceed to apply for state consent.
This is mean I unable use "3+1 S&P", so I need require all
a.)Only after get the approval of "state consent", then can start the "3+1 S&P"?
or
b.)I can't use normal "3+1 S&P", so I want change the S&P agreement expiry date within 9 months?
or
c.)Please above which better and others suggestion? Such as, wait 9 months, house price maybe increase...., so want how?

I have other situations.

Scenario 1
If after I death I make a valid will, my executor and trustee and beneficiary is same person.
My beneficiary also wish sell this consent house, no matter above, all my estate still control by my executor and trustee. My executor still need one step, responsibility transfer my estate to my beneficiary. Normally executor have power of "sumpah pentadbiran" oath taken by the executor that he will administer the estate accordingly.

I)May I know, after I death, when petition of probate (normally want wait 6 months to get probate) before or after get the probate, my executor or trustee or beneficiary can like above process sell my consent house?
This is mean my executor or trustee or beneficiary only need pay 5% RPGT?

II)If after my executor and trustee or beneficiary or lawyer go to land office use the probate transfer my consent house to my beneficiary, then my beneficiary only can like above process sell my consent house, but within 3 years need pay 30% RPGT?

Probate have expiry date or not? or before probate want success sell the estate? If I) sure need above 9 months for sell consent house, then only can choice II)?

Scenario 2
I purchase one freehold by cash, 2nd year I can transfer to non family members? No matter transfer still like sell, the RPGT still this formula: valuation of market value - S&P price?
No matter I transfer or sale to non family members then the date count RPGT still want restart again?

Normally, after transfer my freehold house to non family members and I use the renovation bill minus RPGT, so I want sell house, my non family members unable use my renovation bill minus again RPGT.
If after transfer my freehold house to family members with 0% RPGT and I give the renovation bill to my family members, when my family members need sell this freehold house, can use my renovation bill minus RPGT?
The renovation bill can minus RPGT is including lamp plug, water pipe hose, paint.... all about for house usage, also when house lamp damage ask repair... when have receipt proof all can minus RPGT?
After non family members or family members get my house, then renovation again or repair, when want sell house, this new receipt proof can minus RPGT in future?
This keep receipt proof for minus RPGT purpose have expiry date or not?

Scenario 3
When I "Signing S&P Agreement", but still wait "3+1 S&P", may I know the date start count 5 years above is date of "Signing S&P Agreement" or date of "Completion of S&P Agreement"?
If 6 Jan 2020 then after 5 years is after date 6 Jan 2025?

Scenario 4
Some, "Freehold" wrote like below
"Last 4 open title, 3 Bumi Lot"
May I know, if 1 street(mean 1 Lorong) with 10 houses, above wrote like that is mean 3 units is sure Bumi owner, then 4 units is open title to any race? 3 units unknown which race.
When the "open title", the Bumi also can use the Bumi discount then buy the "open title", but this "open title" will auto change to "Bumi lot"?
When the "open title", the Bumi not use the Bumi discount, but when the Bumi purchase then this house will auto change to "Bumi lot"?
When "Bumi Lot" is mean this 1 street(mean 1 Lorong) included "Bumi open title house" and "Non Bumi open title house"?
If Bumi able purchase, then Bumi discount can use many time? This mean if Bumi sell or not sell old house, Bumi can always use the Bumi discount buy the another "open title" many time?

I don't know above correct or not, if I wrong please correct me, if can, please tell me a better way. Thank you for your help. Thank you so much.



This post has been edited by yourinfohere: Dec 28 2019, 02:49 PM

Thank you of your info.

Life time one exemption but max capped 10% or RM10K only.

Another is
Exemption of RPGT, Service Tax from Jan 1, 2019. KUALA LUMPUR (Bernama): The government has agreed to exempt the real property gains tax (RPGT) to individual Malaysian citizens who dispose of their properties at a consideration price of RM200,000 and below.

This post has been edited by yourinfohere: Dec 28 2019, 03:28 PM

Can I know if I have a joint name property want to sell, can only either of the owner sign the document for selling? Because the other owner is at overseas.

Hi All sifu, going to sell my old house soon, may I know the agent fee still range btw 2-3%?

Maximum 3%.

Include the fees in the selling price so that seller feel good that buyer is paying for it 😂

Thanks, will do as per advice, haha.

Hi Sifu, wanna to ask you for some advice.

Recently I was approached by two agents, both quote my old house with value much higher than the rest. But both charge 3% fee and must authorise their company for 3 mths to sell my house exclusively, although net proceed is still above our expectation price.

So
1) is it worth to let only one agency to sell exclusively?
2) would they really able to sell the house quickly like what they claim? As they have more clients on hand

What are the cons if seller enter into this kind of 3 mths deal?


Or should I quote the price and contact openly and let any agent or interested buyer to contact me directly?

what compensation they offer if fail to sell within 3 months duration?

No compensation, and they will hold the house key for that period.

So I am abit hesitate as my house is fully furnished.

Both only mention they are familiar with this area so should be able to sell it within 3 mth.

This post has been edited by Jingle91: Nov 4 2023, 07:03 AM

how both of them get in touch with you? recommend by friend or ?
If you are hesitate to passed the key to agent, and uncomfortable for exclusive sell, then you can take the photo very very nicely and find those agent at property search engine show area specialist, and ask them to sell your unit openly without exclusive.

It depend on you are rushing to sell or not, and do you can fully corporate with the agent anytime* they bring prospect come to house visit, and you can fully corporate with the agent attending the home visiting process.

or i can suggest you install moveable / non permanant cctv (with wifi on) for your surveillance. then you will less worry about your house condition even passed the key to agent.

One refer by neighbour, another refer by relative.

My old house do have CCTV inside and outside, but already reallocate the unifi to new house.

Anyway, will try to put on banner and try to sell by myself for few months.

Just wondering, if there is any neighbour refer their friend or relative to buy, how many % should i pay for their commission? Is there any range for reference?