What would you like to know about the real estate industry in Malaysia?

How easy can it be on making decision on what to buy or invest?

What are process for first time buyers?

Blah blah blah....

Get your questions discussed here. Appreciate if everyone who comment a constructive and positive answers related and not harming anyone.

Check with auctioneers. You can try https://www.ngchanmau.com

But do understand the risk of going for auctioned property. Especially if the property is currently tenanted. Understand that bank only sell the property, they do not be responsible on evicting the people staying inside.

Worth taking note that currently in Malaysia we do not have a tenancy law. And the current law actually pro tenants than owner. Of cos there's way to evict the tenant, but it will be a long process and you need to get an eviction notice from the court. And that I heard some waited more than 6 months to get it. And there's not confirmation that you will get it. The other alternative is to engage a lawyer and file a civil case against the tenant.

I would say this is one of the main concern when buying an auctioned property. There are other concerns too, such as the condition of the property. For auction properties, while you might get a great price, especially during this point of time, but at the same time, you are buying a property without looking at the inside of the property. So buyer better be prepared to fork out more for renovation cost if the conditions is bad. And they might end up paying more for the property due to the renovation cost.

My advise is, make sure you know why are you buying it. Own use or investment. If own use, then not much issue as you probably buy it because u like the location, and an auctioned property comes with a rare good price. But for investment purposes, make sure you get as much info as possible. Maybe buy a fruit basket and get to know the next door neighbour to learn more about the person staying in the house.

All the best in finding the right property. Tips for buying on own stay: make sure you really like the place ...

Hi. sorry for the late reply.

Normally we (REN) will help buyer to follow up on the cases. While we cant control all parties, we always ask for the latest updates so we can keep all parties updated. For vendor, what they want to know is that there's no delay from purchaser and should there is any potential of delays due to unforeseen circumstances, we are able to detect it before hand and inform vendor accordingly. If really "touch wood" delay, we will help purchaser to convince vendor not to charge on the penalty. <<< this is when you deal with REN.

But in the event you buy directly from vendor, then the person you can rely upon is your lawyer. As they are representing you, they will have to prioritize your best interest. They will have to make sure that they try their best to avoid any penalty. In normal situation, 3 months should be sufficient for drawdown. But sometimes if there's a lot of transactions in land office, there might be some delay. Your lawyer might not able to control them, but they can always check with relevant parties to ensure there's no delay.

You mentioned you keep pushing the lawyer, but most of the times, it's the legal clerk or admin clerk who do the job. maybe you can check with your lawyer and ask who is the one in charge of your case? Then instead of pushing your lawyer, you can follow up with the person in charge of your case. Treat he/she nice and ask for help ...

REN = Real Estate Negotiator, a person hired by A real estate agency to represent the agency in works related to real estate transaction such as buy sell or rent. The actual meaning for Real Estate Agent in Malaysia means the license holder of the agency.

As I’m based in KK, there might be different in the timeline for process.. may I know if the property your are buying are still under master title or strata/individual title already?

Did you ask your lawyer if he can get it done before due date? Or if not, how will he help I’m not getting u to pay any penalty?

hmm... your lawyer really... you bought it through agency or direct to owner? Who is this lawyer? Someone you know personally?

OMG... then this is the actual issue. Normally I would highly recommend buyer to get agent to recommend the lawyer they normally pass the cases to, so it will be easier to get the agent to follow up closely with the lawyer.
or if you have personal friend or relatives who is a lawyer then can engage too so you can follow up with them.

To get a lawyer from internet is very risky and you are now facing it.

Let me send you a PM on how you can talk to your lawyer on this matter ya.

Probably you can ask here for a better insights: https://forum.lowyat.net/topic/3381356

it can be from 6 months to 1 year depending on developer and contractor and weather condition too. (this is a reference based on some of the construction speed of condo in KK, Sabah)

Normally for 40 floors the project should be more than 400 units right? I think I’m your SPA it should stated the construction period is 48 months? Or 36 months at least?

True.. since it’s progressive payment, then it shouldn’t be a big issue. As long as they don’t run away.

For sole proprietor, it will take at least 3 years as bank would require you to provide 2 years income tax statement. But of cos, if you have other source of income beside your business, eg a full time paid job, then you can also try to approach banker and try

If you have consistent income, then you can always try your luck with the bank your company having account with. Bank being bank... they loves to offer financial assistance to those with good track records, you can always give it a shot.

As for adding your parents name to the loan, if they are still working or having active income, why not?

Call your banker and talk to them if based on your current business income, can they offer you a mortgage facility,

Hi... not from Penang but here's some insights on the project

https://www.penangpropertytalk.com/2016/01/...ont-residences/

this was posted back in 2016 so you can have a look at the comment back then. But I would suggest to ask the locals about the project.

Developer background should be strong based on the amount of write ups all these years.
For location, it's best to check google earth on the surrounding as well as the people near to the area.
Check out what are the negative comments. Some people very critical in complaining about the project which turn out to be a good thing for new investors. For example, some locals will complain on how expensive compared to what they own now, but it's a good sign that price is increasing, if there's a good reason to it.

Hope this help.

Hope this help

Unfortunately, we do not have much information for developer's project except for the unsold units or overhang units. your best option is to check with REDHA for west malaysia, SEDHA for Sarawak or SHAREDA for Sabah.

Check out the blacklisted developers too to avoid any regrets.

Unless you are sure she is the one, else, do take into consideration on how to manage the properties in case there are changes in the relationship. A lot of people overlook this matter and face a lot of problems after that.

If everything ok, then your next question on landed in the outskirt of KL or condo near KL.

Based on experience, the best one I can share is speak and talk and discuss with your other half instead of asking in a forum. Not being skeptical but you and her will be the one staying and outsiders shouldn't give too much opionions.

You can take into consideration of these few pointers.

1. Both your current workplace - is it feasible for you to travel far for work everyday?
2. Both parent's home - distance especially when you both have kids, are the elderly going to help you out or you getting babysitter?
3. Lifestyle - living outskirt means you both might have to adjust your current lifestyle
4. Preferences - living on landed or living in high rise
5. hobbies - some hobbies required more land and personal space
6. others to be discussed with your gf .. some minor minor stuff but will be a deal breaker.

Hope this helps.

Hi sorry for the late reply. Been busy for the past few days on some local projects.

Above is my reply in blue ya. I am not sure where is your location but I will reply based on Sabah market. Should be around the same but advisable to double check locally for a better assurance ya.

Hope the answer help you a bit.

Hi there,

sorry for the late reply. been busy for the past few days

Normally for subsale property transaction, it takes about 3 - 4 months to complete. But if it's related to government loan, it might takes even longer. I got cases that took as long as 1 year to get it done.

Beware of the GREED. No matter how cheap the property or how attractive is the property, always do due diligence. As a purchaser, you are entitled the rights to ask questions, and check properly on the property.

Take advantage of the opportunity, if you have done your due diligence and the deal is really good. Grab it and don't waste too much time thinking. (remember, do your due diligence first before you jump in).

Some people like to wait and see, but in the end what they saw is missed opportunities... They wanted to wait for price to drop further but someone else probably grab it.


Hope this help. if you need more information but prefer to talk in private, feel free to PM me. thanks

i hope it help in your decision making.