Hi all

i know markup loan has become very common nowadays but is it actually legal?

There is no law to say you must sell at market price.

All price negotiation on subsale is agreement between seller buyer.

New launch is not necessary market price.

This post has been edited by mini orchard: Jul 21 2020, 07:38 AM

Also the implication will be on effective RPGT payable but good news is it's waived till end of 2021, the other consideration will be potential visit from authorities to justify higher selling part i.e money laundering attempt?

the direct impact purchase is your loan and SPA agreement fees will increase as well? and if bank valuer given a lower price, bank wont be able to loan you the full mark up sum also

Want to markup also needed to be smart..

If u go up 50% or more market rate / previous transactions less 1 or 2 year... Then trouble for u 🤭

In some countries, this is loan fraud, a felony.

who so stupid wanna to pay more to bank?

Its not wrong to sell higher than market price, but he said "loan markup" as in stated selling/buying price say 1.5mil in SPA & Loan, but in actual buyer only pay 1mil to seller so technically that is frauding the bank.

If the borrower defaulted soon after loan dispersed, the valuer who valued $1.5m risk delisted from bank panel.

short answer. It is illegal

Loan financing is base on selling price.

There is no such thing as loan mark up to get higher loan .. but there is mark up selling price to obtain higher loan.

If borrow can fraud the bank, why not ? ... 1mdb ?

This post has been edited by mini orchard: Jul 21 2020, 11:03 AM

yes. illegal.

I wont say is totally illegal per say.

There is no fixed price for a property but there are range of prices for similar properties. As long the SnP price is within the range, is acceptable to valuer.

The higher end property will have wider range and vice versa.

One cannot find similar or closer value for a detached property compared to terrace.

seen that many times..

I thought this common for many transactions....

1mdb? u better not touch that... very sensitive issues

Today you are very popular in Serious Kopitiam ?

Anything that involve cheating is illegal.

I know..
Just keep silent to see how the drama going...
Finally it's ended with boss 7sen comes 💪

Should give 30days suspension instead of just 7days. Create so much problem 🤬😠

If only that were true in our country..

Boss be sensible what bank/valuer gonna give you that value in the first place la.

As long there is 2 price exist in a sales and purchase agreement, it is illegal. or maybe with your expertise you can share with us how you beat the system.