May 8 2016, 05:30 PM
QUOTE(mod_pls_ban_srs @ May 7 2016, 12:58 AM)
Hi All.
My dad want to help his friend selling a plot of land.
it is 10k sqft. price is rm70k. Upon hearing this news, I decide that I want to buy it since it is a bargain. most lands at that size worth at least 300k at that place. this is my estimation by viewing the lands price in that area through mudah.com. im not really certain the actual price of it tho.
Here are the catches
- land is under kaveat= must be use for oil palm plantation.
-lot bumiputera-
- leasehold- 47 years left.
- problem with grant holder
1) Are you a bumi yourself? If you are not, you cannot transfer the bumi status land to you name.My dad want to help his friend selling a plot of land.
it is 10k sqft. price is rm70k. Upon hearing this news, I decide that I want to buy it since it is a bargain. most lands at that size worth at least 300k at that place. this is my estimation by viewing the lands price in that area through mudah.com. im not really certain the actual price of it tho.
Here are the catches
- land is under kaveat= must be use for oil palm plantation.
-lot bumiputera-
- leasehold- 47 years left.
- problem with grant holder
2) what problem with grant holder? Some problem are easy to solve, some problem need time, some problem need money... Please elaborate on the problem.
QUOTE(mod_pls_ban_srs @ May 7 2016, 12:58 AM)
-can we remove that kaveat? the land is in the middle of a town. it is surrond by shoplots and housing area. i intend to flatten the area and build something else like motor workshop/carwash, etc. if this is not possible, i want to sell the land at current market price.
This is not caveat. It is Agricultural Land which terms & conditions is for Oil Palm usage. You can try to apply other usage for the land from land office/town planning/local council/relevant gov department (Some conditions need approval from Agricultural Department etc)QUOTE(mod_pls_ban_srs @ May 7 2016, 12:58 AM)
-how much to extend the leasehold? from what i read it is not that expensive.
Prior expiring, can apply extension of lease in land office or other relevant department. Premium to renew lease depends on area.QUOTE(mod_pls_ban_srs @ May 7 2016, 12:58 AM)
I want to ask about property agent too. how much do I need to pay for their services? Should i try on my own to sell the land later on? How about the lawyer fee?
Usually 2-3% from the selling price. If you are not familiar with the selling, best to hire lawyer to do for u. Dont be penny wise pound foolish.
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