Hello guys,

The question in the title, if let say I have an outstanding loan, what happen to it once I sold the house? From what I know if I sell a car, the buyer will "sambung bayar" the loan.

Thanks!

Not really sambung bayar (may appear on surface), is just that purchaser bank will redeem the outstanding amount from vendor bank.

u apply loan rm100k
total commitment become rm180k because of interest

u sell the house rm120k
bank will consider as full settlement
full settlement dont have interest
when interest is gone, balance payment is rm100k
rm120k - rm100k = profit rm20k

if u buy and sell immediately, u will be charged 50% tax.
so your profit is RM10k, balance rm10k become BR1M

Want to clarify, the person is not liable for future interest but only for interest that has been accrued under the loan but not paid by the borrower.

am i correct?

Hi, if buy and sell immediately within 3 years from S&P date its 30% Real Property Gain Tax. Not 50%.