Hi,

I wanted to sell my house through property agent, as this is the first time i am selling, so I am not sure what I needed to know, in case agent won't play a fool of me.

So if you guys got any information that you believe I shall know, hopefully you can share with me. Thank you so much.

And agent normally charged how many percentage after selling the house? And I need to pay the SST of their commission too?

First and foremost, ensure the agent are registered. Standard commission is 3% of transaction sum and deposit from buyer to be deposit with agency client's account, to be release once transaction concluded minus the agency commission

Check agents REN

Good timing. I also want to ask. haha

I bought house on 2016. If I want to sell current and buy new house. (Now 2storey but want to get semi-D for new)

Can agent help me do the transition:
- find buyer for current
- settle loan bank with new buyer
- grab new loan bank for me

If only just 6 years buy house, worth to sell and buy new one?

*This not for invest ya. I buy to stay with my family.

when you appoint a negotiator/ agent, pls do not sign exclusive appointment. because exclusive will be only him to sell for you and that is for 6 months.

fair to appoint 2 or 3 agent to market.. and not too many...

Agent you advertise you old house and screen buyer for you
before that you need to give details, house size, BU, photo, renovation etc. and most importantly you asking price.

agent will take 3%+SST, this come from you sold price.


As for settle bank loan, that will be managed by the buyer lawyer
as for new bank loan, this is nothing to do with you selling house.

you got all mix up. not sure if you are trolling or what


As per this statement "If only just 6 years buy house, worth to sell and buy new one?"
really scratch head.

who can answer for you. it is your own decision and path of life.
if you strike 10 million toto... u change house upgrade after 1month also can

if you poor fag forever, say in one house until you die also no one will judge you

Agent will only take commission once after everything is done from A to Z right?

what is A to Z ?

agent main duly is secure a buyer and make sure the buyer obtained the loan and sign the s&p. then he will get his commission

others mostly lawyer's duty e.g. for transfer of the title etc.

Nope...

Process like this-
Buyer once agree, will sign booking form and pay 3% to agent
Seller will sign booking form.

when sign SnP- buyer will pay 7% to lawyer.
Once SnP is signed, agent work is finished, the rest is left to lawyer.

so will need to settle with lawyer on the agent fee
if Agent commission is 3.18%- then seller need to top up the 0.18% to agent.
Lawyer will release the 7% to seller after SnP is signed.

the balance 90% will be sort out after MOT is completed ( at land office), taking 3-6 months.

So the agent's 3% + SST commission is bear by buyer?

agent mkn buyer + seller each 3% = 6% for agent

nope...

buyer pay 3% booking fee to seller via agent
buyer pay 7% balance down payment to seller via lawyer
buyer pay remaining 90% to seller ( they will pay the bank first, balance only go to seller account)


Seller pay 3.18% to agent
Buyer pay nothing at all to agent.



Additionally-
buyer pay MOT
buyer pay lawyer for loan agreement (with bank)
buyer pay Lawyer for SnP

Buyer also need to pay lawyer SnP for buyer portion.

Very good information

Same to the rest that replied thank you so much

Haha no i'mt not trolling.

okay thanks for the all info you gave! really help for me!

ok ok, glad than i can help.

btw... the 3% is standard practice. if you property is hot area, not too hard to sell, then can nego to 2.5%

My agent told me lowest is 2% + SST and highest is 3% + SST

My house at Sepang there. To be honest, all other hit by flood last time but only my house area not hit by flood. Still thinking can get buyer or not but still depend on price I ask also right and also if the buyer OK with the flood issue last time. But this is not main reason I want to get other house la.


Fair point, I already renovate my house. So hopefully to sell in future buyer will think this as +1 point.

Btw thanks again for the info!

1 last quesiton ! Agent ask valuer to value the property, we need to pay the valuer?

Oh ya I missed out this question. Yes please I also need to know. Haha

agent wont ask valuer to value the house.
agent will sell based on what you value your house.
So give an example, you bought a house 10 years ago at 200k

now there are people selling 500-600k
you think your fengsui good, well maintain, no negative element, you want to sell for 800k.

agent cant stop you. but if it is over price, hard to find buyer. the agent will promote those of lower value one. ( higher chance of success with less effort)

Say- you are lucky and one buyer really like your house.
he need to get loan, - that is where the valuer come in.

valuer is arrange by bank ( after he sign letter of offer) and is to be paid by buyer. if buyer getting 90% loan, then the valuer report need to state the house value is 800k or so. Else the bank wont approve the loan, or approved at lower margin.
in short- they want to minimize the risk


of course, another factor is RPGT.
if untung, and less than 5 years then RPGT apply.
if hold more than 5 years then don't need to pay.

but in your next e-filling, need to enter details on the section on "lupus hartanah" or something. i forget the detail liao

Wow that "lupus hartanah" I never thought need to declare there. Luckily you alerting this. So if joint loan, both have to fill the "lupus hartanah"?