Hi all sifu that has experience in purchasing subsale leasehold unit

the banker tell me that even after sign SPA, need wait the land office to settle the title which take 3-6 months (due to leasehold) depending on the which state land office. then another 2-3 months for loan disbursement

anyone has done this before?

which state / district?

parking here for info too.

pj

for freehold, SPA signing to vacant possession no longer than 3 months
but for leasehold the 3 months start from when the title settle. so if it takes 3 months, its 3 months + 3 months

why dont go for subsale freehold?

after the leasehold tenancy ends, the gov just take away your land

not necessarily. can extend also

depending on bumi lot or not, can go up to 2 years depending on the situation.

This is a wrong mentality. Leasehold land can be renewed.

Even the Selangor government has a scheme for renewing leasehold house for rm1000 if it is being pass down to family members only.

korang singapura ke?

yes. consent about 2-3 month.

if bumi sell to non bumi can take up to 1-2yrs.

after consent obtained then only your 3+1 start to run (to pay balance 90%)

Ah OK.. Is non bumi

That guy is doing you a favor and you just brushed him off.

https://www.propertyguru.com.my/property-gu...ing-lease-34288

You need to understand what is a lease. When you buy your leasehold property, try to read the lease agreement if there is any clause to say the government must extend the lease if requested. Can and must are two different terms.

Do also check if there is any clause to say should the government choose not to extend, they must compensate you.

This post has been edited by Sihambodoh: Mar 3 2023, 09:30 PM

I understand what is a leasehold

I'm asking a different question here

3+3 is reasonable then

Leasehold property usually got restriction to transfer, i.e. must get consent from state authority / land office before the property can be transferred out. This consent application usually take 2-3 months. Then the loan disbursement will take another 1-2 months depending whether the seller still has bank loan or not.

yes, the time frame is normal for leasehold.

Is the unit still under master title ? I have tendency to believe the issue will be more on the master title vs strata / individual title .

The leasehold unit with the individual / strata title ready should not face this issue. Whereas for the leasehold with master title - yes, there are a lot clearance to get through before the transfer can take place.

3-6 months is the norm duration.

If the individual title is ready, it is usually within 3 months.

Individual title. Need mb consent to transfer leasehold

Yes, correct