hi, got 1 flat , market value ard RM80K
NOT low cost, 823sf

ard 18 yrs old flat
leasehold
in Selangor
still under Master title
Developer still around
but owing master quit rent (ard RM22K)

Anybody know any bank can finance such property ?

thank you

This post has been edited by forever1979: Sep 19 2016, 12:42 PM

Normally, banks will need to see that the quit rent has been duly paid prior to drawdown.

This is because they want to ensure that upon issuance of title, the title can be transferred. Without quit rent being duly paid, the land is subject to forfeiture and transfer of strata titles cannot be done.

Hence, to put it simply, you probably can get the letter of offer issued but there will be a problem when it comes to drawdown of your loan.

This post has been edited by jason1986: Sep 19 2016, 04:44 PM

As Jason said. Avoid this property especially if u are using bank loan. If the property need consent from Land Office, the Land Office also need quit rent to be fully paid...

Master title no need consent from land office.

Only confimation by developer only.

Outstanding 22k applicable for whole parcel or your unit only?

whole parcel

i checked with developer, he mentioned the state perumahan unit do not give consent because of the outstanding

whole parcel rm22k shud be sap sap soi. Haiya...this developer.