ya ...i so agree with abubin. When i 1st bought my house, i tot the house price was it. Then came the S&P fees. Then came the Loan Fees. Then the MRTA! Then the misc fees. Then gotto pay for utilities deposits. Then now gotto pay the transfer title fees and its gonna cost me a bomb!! Sniff sniff....havent even count my monthly maintainance fees and sky high interest fees!

yea everything seems "hidden" unless you take initiative to enquire bout it!

I got a letter asking me to go sign the S&P this weekend. it didnt mention about bringing anything. I called and enquired to know what should I prepare. Only then I found out I need to bring $250 for the signing fee!

Buying a property is a lot of headache, not only in monetary terms. If the lawyer can get the work done fast, then consider it as money well spent.

Lawyer fees is not fixed...
It depends on your property price...

Btw if u guys looking for lawyer, i have a lawyer fren...
Office located at Taman Desa, Old Klang Road

ahhaha..yalor. i 1st time buyer....the only thing i enquire was how much i gotto pay, all they told me was downpayment and bla bla bla.

Another thing is VErY MISLEADING ....hahahha
when they say, only pay RM1000 downpayment......please, house buyers, dun think only RM1k downpayment. When u pay tat deposit, u better make sure u got alot of reserved money or at least research 1st on how much loan u are actually qualified to take!! hahah.....becoz, it really depends on how much loan u can actually take from the bank. Lets say your house is 200k, and u paid RM1000 deposit/downpayment........then later the loan officer tells u tat u r only qualified to get a RM100k loan, u better vomit out the other RM100k or u can opt to lose your RM1k deposit, unless of coz your developer being nice and all, returns yer deposit.

My 2cents is if lets say your down payment is RM30k have at least RM10k to RM15k for the other fees... basically buffer extra 30 to 50 percent of your downpayment sum for:-

the loan lawyers
the S&P lawyers (usually developer absorb the costs, but it depends)
land office/stamp duti
insurance (MRTA)
utility deposit (water and electricity)
fire insurance (because its a requirement in my loan agreement)
and for high rise sinking fund and whatever maintenance fees/deposit!

Its actually not hidden, most first time home owners never do their homework to find out in detail what's involved in procuring a property.

There are also yearly and monthly costs but its not significant like assessment and quit rent...

Preparation is key... for more housing info and advice visit National House Buyers Association (HBA)

This post has been edited by aaronpang: Apr 7 2007, 02:32 AM

really damn dulan today..i'm suppose to go sign agreement with the banker for the home loan, then suddenly the interest rate was different from what i have been told before, then reading through the agreement i found that they have bundle with a insurance call GMTA not mRTA i was like WTF???then i screw the banker in front of everybody, well i doesn't want to but my appointment is at 12pm, she was late for 1 hour never even have the courtesy to call me and tell me that she is late and i haven't got my breakfast yet she let me wait so long, and wasted all my time for my work.

some more when she come with the agreement it's full of bullsh!t, ever heard of a bank that don't allow you to pay more not even rm1 for your loan..number 1 WTF!!! then i truely piss off...some more read through the agreement saw something other then MRTA which was not mention before, fine then i ask her, WTF is this money for she say is for insurance but if you don't want also can, then i lagi dulan, i shout at her don't you suppose to give me an option whether i want to bundle this shit or not before you come out this agreement? then she keep quiet, after that she say if you don't want we can remove that but you won't enjoy the zero interest for the 1st year, and you will be charge 0.01% then i told her, to screw with the whatsoever GMTA that you are offering, that 0.01% is nothing to me, but why the F*** i can't pay more for the installment if i got the extra money..

the service is so so so bad...never get loan from C**B bank..the banker SUX, but this is an experience that i get with C**B i'll not go to them again.

SO PPL STAY REALLY FAR AWAY FROM C**B if you are given a choice.

Now i have to look for other bank liau luckily i read through the agreement before i sign.

so please read what so every paper that you gonna sign...play safe, don't lazy..

ahah..mine is WORSE.

first my banker took 10 days to get the loan approved and meet me to sign the offer letter. then he overshoot his calculated MRTA (he said will be around the figure of $7000) by nearly $2000. So the offer letter quoted an MRTA of $8700 i think

THEN he found out the MRTA need READJUSTED since my gf just turned 29 yesterday when he meet us (after much follow up from him many many days b4).Hmm I have to layan him the day when I was suposed to celebrate my gf bday, sigh. He said need additional $200++ (what a great GIFT from him! )

As the polite person I always am, I just politely told him I wish to have my MRTA adjusted to cover bout %50 of the property price (took him overnite to calculate and inform me that value). Now he said need 3-4 more days to furnish another offer letter (what took them so long anyway? since the offer letter should be easily produced when the bank are done "evaluating" our "credit score").

btw i just signed my S&P this morning.

This post has been edited by alanyuppie: Apr 15 2007, 10:45 AM

That's the problem with bankers these days, their full of shit and not interested in helping customers... it's the same with lawyers too... all they care about is making easy money photostatting documents.

My advice is go check with your friends or others who have contacts with a good banker and lawyer... thankfully the lawyer (S&P) and banker (loan) are very efficient and know how to advice and guide me... my S&P lawyer esp. always kept me updated of what their doing and cc me a copy of all their outgoing mail etc.

Sadly I can't say the same for my other lawyers (loan), never hear anything from these people and I have to pursue them like a rabid dog. Heck they somehow managed to get the bank to send the disbursement check to the architect instead of the developer. Causing late charges to be incurred

i already sign my S&P with the developer, but not the loan agreement with the bank, i have consult some of the ppl from the bank they said i'm still ok to look for other bank, as long as i haven't sign any paper with the bank that approve my loan. so after this i'll look for other bank already i don't want to go with the C**B now, but this thursday i need to pay the 10% down payment because i have sign the S&P...

anybody got any banker to introduce arr??stupid C**B banker damn screw up everything...b@stard

I can intro you my banker but where do you live... its better if your banker is located nearby... to where you live

I live in Puchong and my loan is from OUB Puchong Branch just few minutes away from my house.

Anyway I'll PM you his info...

bro thanks alot got your pm

i live at bukit jalil. puchong is not very far from me heheh, i'm going to give your friend a call

thanks alot

---

Added on April 17, 2007, 11:44 amneed some advice on the loan guys, what do you all think?

should i go for the loan that lawyer fee absorb by the bank or should i go for lower interest rate but lawyer fee bare on my own..

how ler??

i check pbb the interested rate is:
1st 5 year - 1.10
6 years to 15th year - 1.25
15 to 30years - 1.35

but the the legal fee i have to bear

or UOB

Year 1 0% (Fixed)
Year 2 BLR - 1.25% (min 5.50%)
Year 3 - 5 BLR + 0%
Thereafter BLR - 1.00%

i have to bear the legal fee also.

This post has been edited by steven437: Apr 17 2007, 11:55 AM

if u have extra money, bear the legal fees..
else take those higher interest one...

beg in mind, u'll still need money for many things... just be prepared..

---

Added on April 17, 2007, 5:23 pmIt's a fixed rate for those insurance company... but i'm not sure what's their term is.. all i know is the MRTA have to buy from them...

This post has been edited by stormchaser: Apr 17 2007, 05:23 PM

CIMB rate is

1st year - 0%

2-8 years - 1.00%

9-30 years - 1.10

hmmm really don't know which 1 to go with, how ler any more opinion??