Dear all,

What are the relevant Entry Costs of Purchasing Properties (New Project & Sub-Sales)?
And what are the percentage/proportion of the total Entry Costs to the Purchase Price?

# SPA Legal Fees
# SPA Stamp Duty
# Loan Facilities Legal Fees
# Loan Stamp Duty
# Valuation Fees

Are there any other fees involved?

# SPA Legal Fees
Scroll to the middle portion of this website

# SPA Stamp Duty
SPA stamp duty - RM10 per copy

Transfer Stamp Duty:-

1st 100k - 1%
next 400k - 2%
> 500k - 3%

add them all up

# Loan Facilities Legal Fees
same calculation method as SPA legal fees, based on loan amount

# Loan Stamp Duty
0.5% of loan amount (excluding MRTA only)

# Valuation Fees
it's a percentage of the property market price, maybe a valuer can help out on this.

agent fee (usually 2-3% of property price), if u buy subsale and if you're the seller.

Thank you for your kind clarity.

Got apps to calculate. if you are using ios, just search for lkc property malaysia charges. free apps. yes all will be calculated once you enter your spa price. loan. interest. etc.

That is nice. Thank you for the apps recommendations.

Android also got:
https://play.google.com/store/apps/details?...alculatorBoGong

IOS:
https://itunes.apple.com/my/app/lkc-propert...d953777512?mt=8

very useful.

I have doubt, if im a first home buyer and my house is around 700k, will i get exempted on the first 300k on stamp duty?

nope.... u need to pay full....

Under what circumstances i will be entitled to get the exmption on stamp duty or should i say MOT?

I thought last year Gov has announced that first home buyer will get exemption on stamp duty(MOT). First 100k will be waived. And then partially from 400k will be waived as well

Thanks

Not for your case.

1st home buyer and SPA pricing below 500k only entitled for waiver.

500,001 onward, you have to pay according to schedule.

as per reply below bro... haha.... quite simple actually... above the benchmark u are no entitle for the exemption already... its for first house buyer whose buying affordable property... 700k is not affordable in the government eyes... lol

Because of the total amount of the house exceeds certain price range?

yea... as per reply above.... haha

Alright got it. Read back the thread and saw it, it is at RM500k as the benchmark.
Thank you mate.

Hi, if i join name to purchase a property with my wife.

Can we both withdraw 10% of the property value from EPF ?

Is each can withdraw 10% of the property value or both combine 10% which is 5% each ?

Seeking advice from wild_card_my and lifebalance.

Both combine to 10% + 10% on top of it which is the maximum cap.

Therefore you're allowed to withdraw up to 20% of the purchase price.

You can actually withdraw more than 20% - there is no hard cap of 20%, lifebalance is mistaken and not the first time when discussing EPF-related issues, I do not know where he got this figure.

What is your loan amount or the loan margin that you took? 90%?

http://www.kwsp.gov.my/portal/documents/10...17-31052017.pdf

based on requirement shown here, how can you withdraw more than 20% of the construction cost?

Okay, instructions from EPF is quite clear but I find them to be confusing at times too; although I still commend them for their effort in general. And Ive verified this with multiple EPF officers since plenty of people get confused on the amount that they can withdraw, and its cool that you are asking me to explain

Based on the terms below (pembinaan/pembelian), you can withdraw whatever the difference between the [loan amount] VS [construction cost OR purchase price] plus 10% of the [construction cost OR purchase price].

I see why lifebalance is a little confused about this (in the spoiler below) because he assumed that everyone will apply for a 90% margin. And most people probably thought that the hard cap is 10% + 10% = 20%. All you have to keep in mind is that not everyone will apply for 90% loan margin, some will prefer to go for lower margin and use withdrawn EPF account 2 money to pay for the rest. So to answer the question on how much you can withdraw from account 2, you need to know the loan margin that you got.


Contruction

Construction cost: RM200,000
Loan amount: RM120,000
Difference: RM80,000
Amount that can be withdrawn: RM80,000 + RM20,000 (10% of the construction cost) = RM100,000

Ratio of withdrawn:construction : 50%

Purchase

Purchase price: RM400,000
Loan amount: RM300,000
Difference: RM100,000
Amount that can be withdrawn: RM100,000 + RM40,000 (10% of the purchase price) = RM130,000

Ratio of withdrawn:construction : 35%

There is NO hard cap on the amount that you can withdraw, down to the maximum amount that you have in account 2 of course

Pembinaan rumah


Pembelian rumah


Syarat-syarat


This post has been edited by wild_card_my: Jun 2 2017, 11:19 AM