Hi Everyone,

As per title, I have a little regret after purchasing a subsale unit of RM350k , 988sqft, 3R2B low dense condo/flat.

Initially was planned for own stay and low monthly commitments, but now I found out it's a bit far from the city, 15km+/- to klcc

More infos on my purchase :

-Signed SPA on August 2021
-Loan 35 years
-allocated 60k budget to renovate whole unit ( havent done )

highly appreciate if I could hear your opinion/advice on how I should handling the situation. Should I keep or let go at some loss?

This post has been edited by Chern1991: Nov 2 2021, 02:44 PM

possible to lease it?

How much loss are you prepared to take ?

This post has been edited by mini orchard: Nov 2 2021, 02:31 PM

the lease area is around RM900. I have appointed an interior design firm for renovation.

initially for own stay, so i have allocated of 60~70k for renovation ( change old pipings, electric wiring, windows, doors, ++ ). If i renovated nicely and rent out. I think the value will be highly depreciated, that's why

let's say if i stayed for 1~2 years and sell it to a cheaper price and then get another unit. what is the issue I should be worried?

may i know what is the expected loss resulting in this situation?

Sell and cut loss

Since you have no intention to stay there, then you put it up for sale. The loss will be depending on how much discount you want to give and how urgent.

Is no point to spend 60k on reno and shift out later.

Btw, give yourself sometime to consider. 20km may initially looks frightening but is a matter of getting use to it.

I doubt there is favorable clause in the SPA which allows you to opt out now on your own accord. You can recheck your SPA to be sure.

As this is a subsale, you can negotiate with the seller for an amount to walk away from the deal (hopefully the legal transfer process is not too far in yet..). the SPA is between you and the seller only, hence it's up to you guys to find an out of it.

Option to rent it out with minimal renovation (but from your feedback or 900/month vs 350K purchase price, it's a negative return).

This post has been edited by mytrader: Nov 2 2021, 02:54 PM

If the buyer decide to opt out of the SnP, the max forfeiture sum is the 10%. I doubt seller will go for any lesser amount.

If is freehold, I would reckon the process will be completing soon. MOT would have been paid including stamp duty for loan.

If is leasehold, then it is possible if is still under consent stage.

I dont mind lost, but i was thinking I can still stay there for 2~3 years, then move out and give this unit for my parents since they are retiring soon.

Paying 1.3k monthly (instalment + maintenance fee) is still consider ok for me.

Yes you are right, since already purchased, can give sometime to consider, adapt and overcome.

I work from home mostly but my partner workplace is like 35km away.

It is freehold. The process is completed. Will soon go to masjlis perbandaran to change/update the name.

rent out of coz

Since property is yours now/soon, nothing else to say on the property.

Loan 35 years. Normally, the loan will be tied in for at least 3 years.

After that, you have to consider that the valuation of the property might be different and you will have to settle a differential sum if the valuation is different from your loan sum.

So... many things to be considered before anything is done.

This post has been edited by digitalz: Nov 3 2021, 09:20 AM

Yes, there is nothing else can do other than adapt and overcome.

Do you mean within 3 years can sell because of terms & conditions?

Let's say i were to sell at 300k, may i know what's the steps and the 'differential' ?

You can sell the unit anytime.

You have to check your loan agreement if there is a lockdown period. If is stated 1, 2 or 3 years, meaning if your sell within the stated time, then there is a loan penalty for early termination.

If you sell for 300k and your outstanding loan is more than 300k, eg 310k, then you have to settle the 10k before the bank allow you to proceed. If is more, then you will receive the balance money after the completion of sale.

Hi, thank you for answering, appreciate it.


Based on the info on the image, Let's say if i were to sell at 300k and 350k

what is the amount I should be settle with the bank?

For your rough calculation guide ....

In your monthly loan repayment, 40% will goes towards reducing the principal sum and 60% for interest.

So if you sell in 2 years ....

1230 x 40% = 492 x 24 months = 11,808

315,000 - 11,808 = 303,192.

If you sell 300k, then you have to settle 3,192 and the balance from buyer .

You cancel the mrta and ci and received some small refund.

This post has been edited by mini orchard: Nov 4 2021, 06:37 AM

I see, thanks for the calculation, it really made me easier to understand. May I know what is this mean : and the balance from the buyer

Nearby any public transport?

If yes, can rent out room basis.

And hello.

You pay 3192 and buyer 300k.

I have not included the penalty amount for early loan settlement, if any.

RPGT need to pay also right?

20km is not a problem if no jam.
Even 3km peak hr between Asia Jaya to Midvalley via federal can take an hour

Not if its at a loss.

I see the maths on this also wouldn't have touched, much less didnt measure distance.
Lesson learnt the hard way, but atleast its still only a 20-30k loss.

Living in klang valley, distance is not purely main concern.. you should take account the time to reach the desired place (in your case, KLCC). unless u always go out during odd / non-peak hours laa..