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 Risk of Bumi Quota, Non Bumi Lot

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Cabinda
post Jul 16 2015, 11:34 PM

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QUOTE(t3n @ Jul 16 2015, 11:32 PM)
Thanks bro, you make me feel better  smile.gif
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dont happy too early... our housing policy will always change... who know in future they imposed 70% quotas... since they can go from 30% to 50%
TSt3n
post Jul 16 2015, 11:36 PM

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QUOTE(Cabinda @ Jul 16 2015, 11:34 PM)
dont happy too early... our housing policy will always change... who know in future they imposed 70% quotas... since they can go from 30% to 50%
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They are killing the developer lol... Btw if not mistaken Selangor still 30% quota right?
Cabinda
post Jul 16 2015, 11:42 PM

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QUOTE(t3n @ Jul 16 2015, 11:36 PM)
They are killing the developer lol... Btw if not mistaken Selangor still 30% quota right?
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Rehda said it supports Putrajaya’s initiative for a 30-per cent Bumiputera quota, but some local councils such as in urban areas such as Petaling Jaya and Subang Jaya are arbitrarily raising this to 50 and even 70 per cent. - See more at: http://www.themalaymailonline.com/malaysia...h.qt85gx8v.dpuf
linkor
post Jul 17 2015, 10:41 AM

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QUOTE(t3n @ Jul 16 2015, 10:52 PM)
Mind tell me the reason?
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You already signed.. actually no point arguing..

happy investing and good luck !
TSt3n
post Jul 17 2015, 11:45 AM

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QUOTE(linkor @ Jul 17 2015, 10:41 AM)
You already signed.. actually no point arguing..

happy investing and good luck !
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I havent signed the s&p.. Still have last chance to decide now.. That's why need sifu like you to advise me.. smile.gif
linkor
post Jul 17 2015, 01:03 PM

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QUOTE(t3n @ Jul 17 2015, 11:45 AM)
I havent signed the s&p.. Still have last chance to decide now.. That's why need sifu like you to advise me.. smile.gif
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Since you ask.. my concern are..

1) Are you sure you can get title later on ? Developer promise do not count.

2) Know your risk, if you can't get title, what to do ?

3) Would it be better to buy a non-bumi unit ? even if it could price higher ?
TSt3n
post Jul 17 2015, 01:57 PM

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QUOTE(linkor @ Jul 17 2015, 01:03 PM)
Since you ask.. my concern are..

1) Are you sure you can get title later on ? Developer promise do not count.

2) Know your risk, if you can't get title, what to do ?

3) Would it be better to buy a non-bumi unit ? even if it could price higher ?
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Thanks bro

1) Not sure can get title o not but some says is just matter of time.

2) the only risk i know is i wil get hard time seling to another non bumi. What else should i worry of?

3) Yes, there are some non bumi lot but my wife like the design and location for this bumi unit.
chuamhc
post Jul 18 2015, 01:41 PM

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chuamhc
post Jul 18 2015, 01:55 PM

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nexona88
post Jul 18 2015, 04:39 PM

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QUOTE(chuamhc @ Jul 18 2015, 01:41 PM)
so u from dc one consultancy hmm.gif
lucerne
post Jul 19 2015, 03:05 PM

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QUOTE(t3n @ Jul 16 2015, 03:01 PM)
Hi sifu, for some reason i decided to buy a leasehold townhouse from a bumi owner (i am non bumi). Developer confirm the unit is not a bumi lot/ bumi reserve unit. So basically this unit will fall under bumi quota. Since the property still under master title, my lawyer told me that I can buy the house. The risk I will face is difficulty in transferring name during starta title is out. Another problem is difficulty selling my unit to another non bumi unless I successfully get my starta title...

1) Can I know other risk other than the above?
2) Is the previous bumi owner able to claim my property?

Sorry for bad english. Thanks sifu  notworthy.gif

1) Leasehold
2) Master Title
3) Non Bumi Lot / Non Bumi Reserve
4) Bumi Quota
5) Current owner bumi, I am non bumi
6) For own stay at least 5 years and above
7) Townhouse at Selangor
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Selangor land office will not easily let go the bumi quote to non bumi.. even u wish to pay the bumi discount premium difference.

sometime Bumi sold to non bumi (if succeeded) and then plan to resell to a non bumi -also difficult if before strata out.

so my advise is better skip, no point go thru so many appeals and waste or pay more legal fee etc.
TSt3n
post Jul 19 2015, 04:31 PM

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QUOTE(lucerne @ Jul 19 2015, 03:05 PM)
Selangor land office will not easily let go the bumi quote to non bumi.. even u wish to pay the bumi discount premium difference.

sometime Bumi sold to non bumi (if succeeded) and then plan to resell to a non bumi -also difficult if before strata out.

so my advise is better skip, no point go thru so many appeals and waste or pay more legal fee etc.
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What if I resell to bumi? If transaction done during master title, do we still need to get consent from state authority?
mmyang
post Jul 20 2015, 10:58 PM

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Sometimes, bumi owners choose not to buy bumi lot due to low resell value, best to read your S/P agreement to confirm. Bumi lot can cause alot of hassle when transferring title as there is no real written law about it. Bumi lots are usually slightly cheaper due to the discounts but in most cases, it has low resell market value, even in the long run, especially for investment, it's not worth to purchase.
ShadowR1
post Jul 20 2015, 11:00 PM

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Better shy away ... a lot in the list can cause u headache.
Rexx Chan
post Aug 31 2015, 04:55 AM

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DC ONE Consultancy Can Solve This Problem
Rexx Chan
post Aug 31 2015, 04:55 AM

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DC ONE Consultancy Can Solve This Problem Bro
Tavia88
post Sep 1 2015, 03:09 PM

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QUOTE(Rexx Chan @ Aug 31 2015, 04:55 AM)
DC ONE Consultancy Can Solve This Problem Bro
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How you solve? Proceed everything first until consent obtained only pay your legal fee can? If yes please pm me.
Rexx Chan
post Sep 1 2015, 04:37 PM

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Pls Contact Me, 017-7190466

 

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