NP! Banks rarely take 100% rent as income because they will account for things like agent fees, maintenance costs, assessment tax+quit rent etc., the % they use varies from bank to bank, and will depend on whether they view your tenancy agreement as valid and/or if you submit proof of steady income (like bank statements). Some will only accept based on your tax declaration of rental income, which usually is already nett after deducting expenses, so it won't be much on nett income already. So your colleagues' assurance, while correct technically, is very misleading.

That's what this thread is for. No selling, no ads, no soliciting. Just to help those in need of the right information.

Plus, i think some are comfortable to ask since Im not from KL. Guaranteed cannot solicit for sales or services.

The cons is that there are some questions related to specific location or land laws I cant answer due to different set of knowledge.

Hi, total noob in property here,
when buying a condominium,
does leasehold vs freehold make a difference?

and after paying booking for a unit, until what time frame we can still change a unit (say to a different floor), e.g: before signing SNP / before stamping.

There are many topics here on freehold v leasehold. Just use the search function.

If SnP is not sign, buyer can change unit subject to developer's approval. Otherwise buyer burnt the deposit and pay new booking fee.

After signed SnP but b4 signing Loan Agreement, change NOT allowed. If buyer decided not to cont the purchase, burnt deposit and pay legal expenses for work done.

Am interested in buying a new condo being built as part of redevelopment of an existing building. Any idea how the schedule payment will be like ofr this type of development?

As building already there, does it mean will probably need ~50% of payment and loan to be serviced once SPA signed?

Is the same as buying new. The extra is only the demolition of the old structure.

Sorry, should be more specific, the old building is not demolished, i think they will only redo the facade, internal electrical n plumbing plus some wall adjustment.

leasehold need to be renew after the lease of ur property ended and gov has right to take back the land for other project purpose
meanwhile freehold you can own the land and property for lifetime, best if you decide to pass down to your next gen
do have a read here so u will understand it better freehold and leasehold

this sounds a bit different than usual and no experience in it
well it is better for you to ask for inquiry from those expert in property site to give you a more accurate answer
hope this helps you and get an answer for your question

1) Is this residential or marketed as 'residential under commercial title'? Progress schedule under HDA only applies to residential use properties like suite apartment. SOHO/SOVO/SOFO don't count arh that's consider commercial property, no HDA style progress payment.

2) Ask for draft SPA, you can see if it's under HDA schedule because there will be a Schedule G or Schedule H on top of first page + mention of HDA

But usually for "refurbished" cases not under HDA la, cos it's simply cosmetic upgrade of existing building structure. Will be similar to subsale or commercial property sale, you need to start paying loan immediately once developer sends billing to bank asking bank to release money.

1. How much is the compensation paid to the existing owner?

2. How much is the selling price ?

3. What is the floor area ?

4. Any covered car park ? How many lot allocated ?

5. Facilities ?

Still pending APDL, so nothing black n white yet.

Yeah... I am expecting will need to service a big portion of the loan once SPA signed.

Ah, cool, you can try ask for copy of existing land title also, if nothing on it mentions for residential purpose or for the purpose of "bangunan servis" then it's most likely commercial property

most likely have to fork out large DP 😅 banks usually only give max 80% for commercial use, and even then quite rare, so you need to give the full differential sum on SPA signing unless developer give special arrangement in SPA (like payment in instalments etc)

Not sure about exact compensation amount, my guess is ~700psf. After redevelopment price is ~1000psf including furnishing.

1 - 2 car park allocated based on unit size, ranges from sqf 5xx -12xx. Standard condo facilities - swimming pool, gym, sauna.

If got APDL then most likely residential title as commercial properties does not required APDL to be approved before starting work . If commercial properties, make sure you read all the terms properly and if possible, get a lawyer to represent you as the lawyer provided by developer will be representing them instead. Unlike residential properties, commercial titled properties will not be protected under HDA.

Thanks for the advice

Anyone of you ever heard news saying that there is some chances that Bank Negara Malaysia will review the current Margin of Finance (MoF) for mortgage?

I heard from 2 property sifus mentioning about that. Could be due to the high household debt that link to this decision.

Just want to ask if any of you come across this statement? Anyway, its not confirmed but I just ask since I heard of it.

Irrespective of the news ...

Always borrow less with maximum tenure to avoid unncessary monthly stress.

Yes, agreed 100%...

Not heard of it. Could be speculation … unless they able to provide statements of it