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> Selling Low Medium Cost Apartment required 5 yrs?, Enquiry: Requirement to sell the apartme

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Cavatzu
post May 23 2022, 03:18 PM

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Not enough detail. You said you bought it second hand so it has already changed hands in subsale market? How did you acquire it? Lelong or other means? Check with the solicitor who executed your sale.

Geez people really need to be spoon fed everything.
MrSirCh
post May 23 2022, 05:05 PM

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QUOTE(hyhanyau @ May 23 2022, 08:55 AM)
Hello guys!

Would like to ask if anyone got experience or can provide some guidance.

I own a low medium cost apartment about 2 years. (Second hand)
Was introduced by my uncle, consider a good investment as the rental is smooth (god bless).

Recently was planning to buy a house for my own and prepare for marriage, so thinking of to sell this apartment and use it for downpayment.

But I heard low medium cost apartment have to wait after 5 years only allow to sell? Is this true? Or is there any way I can find the information.

Seek all Sifusss advice.

Thanks in advance!
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Check your title...if there's a sekatan kepentingan then you will need to apply for state consent before you can sell the property. If no title yet, need to get the consent of the developer
mini orchard
post May 23 2022, 05:17 PM

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QUOTE(MrSirCh @ May 23 2022, 05:05 PM)
Check your title...if there's a sekatan kepentingan then you will need to apply for state consent before you can sell the property. If no title yet, need to get the consent of the developer
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If no strata title yet, both state and developer consent are required.

Developer has no authority over public housing transfer. They merely register the name approved by the state authority.

Similarly, all new public housing applications have to be approved by the state through the developer.

This post has been edited by mini orchard: May 23 2022, 05:21 PM
Shining star
post May 23 2022, 06:07 PM

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QUOTE(mini orchard @ May 23 2022, 09:08 AM)
Each State will have their own policy regarding govt assisted housing with regards to subsale.

If Sgor, is 5 years from SnP.
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Yes. i think you are right.

And actually now if you stay in Klang valley and you purchased the Rumah selangorku or RW (Rumawip).
Within 10 years you can't sell.

Actually now no more new low cost flat, i think.
they revise the name to affordable house.
Last time you may get a low cost house around RM 30-50K. Now around RM 250K to RM 300K
Shining star
post May 23 2022, 06:10 PM

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QUOTE(mini orchard @ May 23 2022, 05:17 PM)
If no strata title yet, both state and developer consent are required.

Developer has no authority over public housing transfer. They merely register the name approved by the state authority.

Similarly, all new public housing applications have to be approved by the state through the developer.
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This is why, buyer is encourage to settle their loan as much as possible to redeem the title.
and proceed the POC/POT upon 1-2 years you get the key.
Because during the way, some developer might be winding off...

 

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