Jul 14 2022, 05:08 PM
QUOTE(sweetcurry @ Jul 14 2022, 04:06 PM)
Hi all Sifus..
Currently a 40yr old guy planning to buy a subsale terrace house for own family stay.. House price is RM630k. Am planning to put down a RM130 and get a 25 year loan of 500k
Have a few questions:
1) When it is best time to start engaging a lawyer? Before/after place booking fee with seller? Or before signing of SPA / bank loan agreement?
2) MRTA vs MLTA.. I read some guide says since I am buying for own stay MLTA is sufficient. True? (I already have sufficient life/medical insurance coverage)
3) Would it be a good idea to engage a house inspector to check out the house (the property is almost 10 years old and the previous owner stayed in it before) Possible to have agreement with owner if major defects are found, I can back out of the deal with my deposit?
4) Some online guides advise buyers to get a verbal valuation of the property from the banks before final negotiations with the seller. True?
1) Find 3 lawyers and get a quotation in the man time - usually directly after booking. SPA & LA prepared by your appointed lawyer.Currently a 40yr old guy planning to buy a subsale terrace house for own family stay.. House price is RM630k. Am planning to put down a RM130 and get a 25 year loan of 500k
Have a few questions:
1) When it is best time to start engaging a lawyer? Before/after place booking fee with seller? Or before signing of SPA / bank loan agreement?
2) MRTA vs MLTA.. I read some guide says since I am buying for own stay MLTA is sufficient. True? (I already have sufficient life/medical insurance coverage)
3) Would it be a good idea to engage a house inspector to check out the house (the property is almost 10 years old and the previous owner stayed in it before) Possible to have agreement with owner if major defects are found, I can back out of the deal with my deposit?
4) Some online guides advise buyers to get a verbal valuation of the property from the banks before final negotiations with the seller. True?
2) If got sufficient Life / Medical and no affect interest rate - no need to buy
3) Yes, but can do prior to booking
4) Check value before putting in a booking - your agent can assist.
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