I see. If you are buying from developers, whatever rebates still applies to cash purchase. It just that instead of progressive instalments payable to bank during the construction period, you will be paying cash to the developer based on progressive payment during the construction period.

Im not too sure if you can extend it at this point of time as there's still 50 years left. In Kota Kinabalu, they only allow owner to extend when the leasehold period less than 25 years.

Hmm... this is a very hard question to answer.

To a bank, there are 2 options. One is through documents to prove your income and option 2 is to use collaterals. This are normally for those with a lot of properties which are fully paid off and live off rental incomes.

For non-bank loan, im not too sure then. Some parents purchase properties using their savings and the children pay the parents on monthly basis without interest.

But one for sure, banks nowadays do not take potential rental income into calculation. Even for a declared rental income with SPA, some banks only take 70% of the rental as income.

I guess this is why a lot of people say banks are stricter in offering loans nowadays.

Hope this helps.

Gong Xi Fa Cai!

Yes there are ways.. but again producing fake documents are illegal and if you are listening to so called gurus that teaches people to forge documents, I advised better keep yourself away from them. These people aim is to earn money and doesn’t care about others.

Buying properties should be within your means. And not overstretched yourself to get one. I do understand some people has the cash but do not have proper documents, especially income tax statement for those sole proprietor business. In such cases, one can always declared the income backdate ... but subject to late penalty. But again, it’s better than illegal ways.

Just my 2 cents

CCRIS checking will be done by bank nowadays. Even if You printed it and submit to bank, they will still have you to sign in the authorisation form to allow them to access to you CCRIS.

True. Basically it’s not wrong to listen to those gurus or REN.. but do keep in mind, the money is yours and you should spend time to do research before jumping in. It’s probably weird to hear this from a REN, but it’s for your own good too. Investing in property often bring more benefits in long term but only if you have the holding power. Don’t over stretch yourself but invest within your means. Always look at the potential risk before making the final call. If you can handle the risk then by all means. If not, keep it within your capability.

This is an advice to all property buyers out there.

The reason I started this is to provide the best answer I can ... so sarcasm or not, just do my part Lo...

Anyway, Happy holidays and gong Xi fa cai

You mean for loan documentation? Normally banker will pass it to one of their panel lawyer. But if you want, you can also choose one from the panel lawyer’s list of the bank. It’s entirely up to you as long as it’s from the bank panel. Some bank even allowed adhoc appointment of lawyer, means you can engage your own lawyer even if their are not the panel .

Do take note that most properties sold in primary market comes with freebies, rebates, discounts, etc hence even with a higher selling price during launch, buyer still buying below the actual listed price. And once the properties is completed, the value is based on the actual value and no longer under developer’s asking price. In some cases, you will notice that the actual value is lower than the previous selling price. But to those who purchased the property during launch, they probably still making some profit even if they sell at the current market value.

For your case, if you are planning to buy for investment purposes, then you need to make sure you have the holding power over the years while waiting for the price to appreciate. But if you are buying for own use, then value won’t be much of a concern unless you plan to sell it off after 10 years? Cos for own stay, normally people would sell if the price matches their expectation or keep staying if it’s not.

Hope this help. I did not mention any of the project as I’m not based in west Malaysia. My comment is on the general part. If you want a detailed discussion, then maybe you can speak with the local RENs around the area.

Happy New Year!

Normally for undercon project, you start paying progressive interest the moment your loan approved. But if there's a DIBS (Developer Interest Bearing Scheme) then you dont need to pay anything until COC is issued. But you still can choose to pay the principal during this duration.

As or the 70% discount, im sorry im unable to comment as im not in the area.

Hope this help.

Not all developer offer DIBS. They might offer it but under different name ...

For progressive interest, it depends on the interest rate as well as the claims by developer to bank.
For DIBS, normally you dont need to pay anything during construction period..

Although I am not too sure on projects in KL as I am based in Sabah.

Stamp duty exemption is only for first home buyer for property less than RM500K..

But if you are buying directly from developer directly under HOC package, then it doesn’t matter how many homes you owned.

Hope it helps

Hmm... if the developer is offering HOC package normally you only need to pay the booking fees and that's it. But to confirm on this, I suggest you check with the developer on the repayment.

But do take into consideration that there will be more payment to make when the property is completed especially if it's a strata properties. You will need to pay for the management deposits, utilities deposit when you apply for an account and etc. Not forgetting renovation cost as well as purchasing of furniture.

Yes. You get stamp duty exemption for property price from RM300,001 up to RM1,000,000 for your SPA and up to RM2,250,000 for loan.

More info can refer here: HOC2020-2021

But just as a reminder, HOC will end 31.5.2021 ..

Hi. No question is dumb question. If don’t know, then you are free to ask. That’s the purpose this thread was created. To help Those who are seeking for answer.

For interest rates, it’s currently very low, but it shouldn’t be the only reason why you are buying now. This is because interest rates can goes up and when it happen, your instalment will be adjusted too.

For HOC, it’s an initiative by Govt to help developers to clear their overhang unit as well as undercon units. Plus with developer's in house package, it further makes it a more attractive one.

But in my humble opinion, property buying should be from you. You have to be ready mentally as it will somehow affect your current lifestyle, especially if you likes to travel. And if you buying to invest, you need to prepare for the time it’s vacant and you have to be paying it.

If you are prepared both financially and mentally, I would say anytime is a good time to buy...

Yup. the count down is on it's way now... 31 May 2021. Unless they decide to extend it again.. If you can find a good deal, something you like at this point of time, you should really consider going into it. But if not, then you might want to reconsider. Do set an objective of your purchase, INVESTMENT? or OWN USE? This will help you decide...

For investment - more criteria to consider. But the rule of thumb, it must offer a good ROI.

For own use - if you love it, you buy it! (of cos it still need to be within your budget)

Happy buying!

Hi there. I suggest you ask the developer sales person to write down in full details on the financial part.

if they say downpayment is 1% then what happened to the balance of 9% if you secure a 90% loan? Is it falls under 9% rebate?
FREE SPA and Loan agreement means developer is paying for it as long as you use their lawyer.
Under HOC will cover the SPA stamp duty, loan stamp duty and MOT
What about the disbursement charges for SPA and loan? not much but do check if it's covered by developer too?
And the booking fees? Any? is it refundable?

These are some of the basic questions we get from buyers when we are marketing a developer's project.

Hope it helps...

This post has been edited by YeohKW: Mar 28 2021, 04:28 PM

Hi. I suggest you try asking an auctioneer on this matter to get a more accurate information. I’m sorry I, unable to answer this as it’s not my forte.

Agreed. We cannot predict what will happen in the future. We can only plan for our future. And investing is one of the best method to secure a good future. And if one is scared of putting all eggs in one basket, then can consider diversifying the investment.

Unit trust, properties, stocks, insurance, FD and others. Property investment is good as it's the only investment that can be leveraged.

I guessed it depend on each developer. But so far those that we dealt with, the if the developers offer referral program, then sales agent (REN) will not get any comm anymore. For internal sales team, they will probably still get it since the comm is very low as there's basic pay for them.

Not sure if this is applicable to all developers ya.