1. Depending on which state you purchase the property, a foreigner buying any property in malaysia shall be subjected to tnc of each state. Each state has their minimum purchase price for foreigners, the type of property etc.

In order for the developer to sell it to you, he must meet those conditions, hence MAYBE the 980k.

2  If you are worried about the property in terms of the two below ....

i) Legality ... engage a lawyer to check on those matters before signing the SPA.

ii) Condition .... engage a property inspector to prepare a report. You need the permission of the developer to access the unit for an inspection.

3. SPA is the legal document recoginsed in msia for a transaction of sales and purchase of a property. Any terms in the booking form can be included in the SPA subject to both parties agreement. Your purchase is not under the Housing Developer Act rule since it is a subsale of a completed unit albeit from a developer.

For your added info, all legal fees, government duties and valuation fees are based on % of the SPA price and Loan Agreement.

My comments are general and does not apply to any specific states. Is up to each state on how to implement their land matters but it should be around what I said.

1. In any subsale agreement, a party that is not agreeable to the terms can choose not to proceed.

Personally, if I am in your position, I would abort the deal and proceed to look for another similar unit in the open market, which may be cheaper than 730k.

There are over supply of properties now in the country, including melaka.

2. Normally, when a developer makes an application to the state govt to release a bumi unit to be sold to the general public, he has to pay some 'compensation' to the state and may then be included in the SPA price.

Once approved, the property is considered 'open' unit and no such condition are attached to its future sale. Unless the title is held under a leasehold tenure, then all such properties are subject to consent approval from the state.

Consent applies to ALL properties under leasehold tenure and does not segregate landed or strata highrise.

In most or all land titles, any tnc attached to it are indicated. It is a final document where a buyer will rely on the tnc before a purchase. In all subsale, a lawyer represent the buyer will conduct a title search at the land office before the signing of SPA.

In my post #19, I have successfully bid for a govt assisted apartment ownership in Selangor. It is an open unit. In my consent approval letter for transfer to my name, one of the condition stated that I can sell to anyone BUT if the buyer is a bumi, then it will be converted to bumi unit. It is only applicable to government assisted housing and not others.

There you go ..... each state has their own policy on land matters and a lawyer from that state familiar with land matters will be in a better position to advise a buyer.

One important note ....

If you decide to proceed, a written consent must be given by the state before to sign SPA

There was a thread by a forumer last month stating that he was 'accidentally' sold a bumi unit without the written consent from the state government and is now unable to sell the unit to others.

https://forum.lowyat.net/index.php?showtopi...033&hl=Bumi+lot