QUOTE(Pink Spider @ Mar 22 2016, 01:55 PM)
I tak nak the headache of collecting rental and maintaining the property...that's why I went into REITs, remember? 
Den you collect rental from your 'friend' no hassle... later if he went into financial trouble then how? Electricity no pay, water no pay, condo fees no pay.. then you are liable as house owner.Advantage for him is after 'selling' the house to you, he no longer owes the bank, but owe you.. you have no legal recourse to force him to pay. Bank can take his property, you cant because it's already yours.
Even rental agreement usually state give 1 month notice only.. then cabut..
You must study carefully why he wish to dump the bank loan onto you?
Remember buy and sell house twice means you incur stamp duty twice and lawyer fees too.. siapa pay? If house less than 5 years old, got RPGT also.
This post has been edited by gark: Mar 22 2016, 02:04 PM
Mar 22 2016, 01:58 PM

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