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 Questions regarding LPPSA

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ClessRV
post May 29 2020, 12:17 PM

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QUOTE(reed90 @ May 29 2020, 12:09 PM)
hi guys

wanna ask regarding LPPSA

1. is it possible to get a 100% loan on 2nd property?

2. it is said that i have to appoint a lawyer to facilitate the process. Can a property agent fill this role? or if not, any cost estimates?
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1. 1st property using bank loan? then Yes.

2. New development? Yes, usually developer will help with all those stuff if you don't want to hire own lawyer.

3. Cost estimate of all procedure? depends, try to allocate 3-5% of house price, 7-10% if sub-sale
ClessRV
post May 29 2020, 02:50 PM

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QUOTE(reed90 @ May 29 2020, 02:41 PM)
1.

actually thats the problematic part. 2nd property still can 100%?

and yeah, its subsale
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Can, based on my exp, also sub-sale, just settle the whole process last year, took 1 year because co-owner of the house has pass away, so need to do extra procedure when wanted to transfer the name.

I bought my 1st house (under development) using bank loan (also 100%, got promo that time), and the 2nd one few months after (using lppsa, also 100%), but if want to buy 3rd house, only 70% for bank loan
ClessRV
post May 29 2020, 04:52 PM

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QUOTE(reed90 @ May 29 2020, 04:11 PM)
ah i see, glad i could do that. how do you appoint a lawyer to do that? and how much is the lawyer/legal fee i need to standby?
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that i have my brother to help, he use his previous lawyer for his house, i think you can just appoint any lawyer that you are familiar with, but please chck if they are in the list of lawyers for lppsa, the list can be obtained from the website.

can't really remember the amount since it was already 1+ year, need to chck back my buku kira2, i think its around rm5k+?? let me get back on that later
ClessRV
post May 29 2020, 05:02 PM

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lawyer - rm2450, MOT - RM2900, cukai rmh/tnh - rm1400, stamp duty - rm1900

house price - rm500k landed end lot terrace house
ClessRV
post May 29 2020, 05:24 PM

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no prob, all the best, lppsa is efficient during my case, should be the same too even if the gov has change.

 

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