QUOTE(voncrane @ Jan 11 2019, 09:07 AM)
Meaning, it's converted or registered as Bumi Lot and can only be sold to Bumi buyer? Or if wants to see to non-bumi, then must seek permission from the authorities first? Is it this type of purchase? I ask cuz he was informed otherwise and docs doesn't show any such restrictions. As far as I could tell back then. Matter of fact, his input about the place and decision to buy also helped in our comparisons of other projects before settling.
bumi discount is a given, doesn't matter if its freehold or leasehold, as long as bumi bought it and its still within quota. different developers classified or treated 'bumi' differently, this is another topic altogether,
for leasehold property, bumi buyers are buying bumi LOT, which is allocated to them 30 to 50% depends on development. Bumi lot already have discounted factor into price and its a restricted purchase as bumi lot can ONLY BE transferred to BUMI upon VPed and subsale. The later part is beyond the control of developer. its strictly with the discretion of state gov.
in general, once its sold to bumi as bumi lot, there is no chance to resell to non bumi, except the property is under lelong [conditions applied], or buyer made many appeals to state gov which generally take months or years for state gov to approve your appeal...…..IF they do allowed conversion to non bumi.
whereas for freehold properties, there is no such thing as bumi lot. all lots are free agent. when bumi buy, they will get bumi discount, that's all.. and its free for bumi to sell to anyone or any buyers can freely buy.
do note that some nasty state gov MAY convert the said lot to BUMI only if subsale BUYER is bumi (again) and if the state gov wishes to manage quota in such development......rare but it happens,
I stand corrected......maybe a bumi can explain better.