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 Procedure to buy subsale properties?, scared of scams

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rx330
post May 5 2025, 02:16 PM

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QUOTE(Chrix @ May 5 2025, 02:12 PM)
Condo
KL
Low density

No such thing exist with those criteria as developers in for max profit, min quality.
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ic, not into commercial?
Tomokitsu
post May 5 2025, 02:21 PM

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QUOTE(Boomwick @ May 1 2025, 07:47 PM)
Subsale

Before going in, then check sendiri pocket.

House deposit 10%
Spa + loan financing cost + mot (for 500k case example, ready 25k)
Prepare renovation and repair fee if needed

2 path, Engage a licensed agent, or direct deal with owner thru lawyer.

Since u r going to take bank loan, engage a licensed agent is easier for u as u can apply loan with booking form

Agent route

Make sure property is dont have complication like bumi to non bumi.

1. Engage licensed agent, got REN number
2. Deposit 3% to estate company clients account.
3. Sign LOCS, get all document related to property
4. Apply loan
5. After loan approve, then find SPA lawyer to represent u.
6. Lawyer do checking, and draft spa
7. All ok, then Sign spa,  u pay 7% balance
8. Wait bank release balance, then when 100% u get vp. Agak agak 90 days

This is just summary, got more nitty gritty details
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If want to check for the complication bumi non bumi etc usually go to land office? Need what info ya
Boomwick
post May 5 2025, 03:01 PM

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QUOTE(Tomokitsu @ May 5 2025, 02:21 PM)
If want to check for the complication bumi non bumi etc usually go to land office? Need what info ya
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If property is leasehold and is malay owner, then u can ask verbally for verbal confirmation.

If scared, then get title and let lawyer do land search first.

If scared, but want proceed, then in booking form write down earnest deposit refundable if property cannot be transfer due to bumi lot issue
rx330
post May 5 2025, 03:56 PM

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most agent will not hide the fact if its a bumi lot, especially if buyer is non bumi

waste the agent time only
mini orchard
post May 5 2025, 04:58 PM

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QUOTE(Tomokitsu @ May 5 2025, 02:21 PM)
If want to check for the complication bumi non bumi etc usually go to land office? Need what info ya
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Irrespective whether is fh or lh, bumi or non bumi etc, always do a title search B4 paying a deposit.

Request a copy of the title from seller and do a search at the Pejabat Tanah.

The result of the search should be the same except for any late endorsement like caveats.

This post has been edited by mini orchard: May 5 2025, 05:00 PM
Boomwick
post May 6 2025, 12:16 AM

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QUOTE(rx330 @ May 5 2025, 03:56 PM)
most agent will not hide the fact if its a bumi lot, especially if buyer is non bumi

waste the agent time only
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Yea some new agent apa pun tak tau or apa pun just on sahaja.. u nvr see b4 only
rx330
post May 6 2025, 10:39 AM

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QUOTE(Boomwick @ May 6 2025, 12:16 AM)
Yea some new agent apa pun tak tau or apa pun just on sahaja.. u nvr see b4 only
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macam car salesman tongue.gif
Boomwick
post May 6 2025, 10:43 AM

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QUOTE(rx330 @ May 6 2025, 10:39 AM)
macam car salesman  tongue.gif
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Tat one not same.. tat one flood also say no flood
hoonanoo
post May 7 2025, 11:37 AM

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QUOTE(mini orchard @ May 5 2025, 04:58 PM)
Irrespective whether is fh or lh, bumi or non bumi etc, always do a title search B4 paying a deposit.

Request a copy of the title from seller and do a search at the Pejabat Tanah.

The result of the search should be the same except for any late endorsement like caveats.
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if you hire lawyer, won't they do this for you?

lawyer will release money, once they checked all the paperwork in order, right?

This post has been edited by hoonanoo: May 7 2025, 11:38 AM
mini orchard
post May 7 2025, 12:33 PM

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QUOTE(hoonanoo @ May 7 2025, 11:37 AM)
if you hire lawyer, won't they do this for you?

lawyer will release money, once they checked all the paperwork in order, right?
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If buyer conduct the search himself and if there is any irregularity, he don't need a lawyer to proceed 🤑.

Once the lawyer opens a conveyancing file, his professional fees is payable, whether partial or full depending on the work done even if SnP is aborted.




Boomwick
post May 7 2025, 01:11 PM

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QUOTE(mini orchard @ May 7 2025, 12:33 PM)
If buyer conduct the search himself and if there is any irregularity, he don't need a lawyer to proceed 🤑.

Once the lawyer opens a conveyancing file, his professional fees is payable, whether partial or full depending on the work done even if SnP is aborted.
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Mean the buyer no konektion or no kawan with lawyer lo..

Some lawyer can just do title land search and charge back the search fee to buyer. Just for search purpose only.
hoonanoo
post May 7 2025, 01:50 PM

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QUOTE(mini orchard @ May 7 2025, 12:33 PM)
If buyer conduct the search himself and if there is any irregularity, he don't need a lawyer to proceed 🤑.

Once the lawyer opens a conveyancing file, his professional fees is payable, whether partial or full depending on the work done even if SnP is aborted.
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i prefer to use lawyer, to me, its worthwhile to pay.
mini orchard
post May 7 2025, 02:30 PM

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QUOTE(Boomwick @ May 7 2025, 01:11 PM)
Mean the buyer no konektion or no kawan with lawyer lo..

Some lawyer can just do title land search and charge back the search fee to buyer. Just for search purpose only.
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I don't do business with kawan lo. Everything also want free or cheap. Ask payment like begging for money 🤣

QUOTE(hoonanoo @ May 7 2025, 01:50 PM)
i prefer to use lawyer, to me, its worthwhile to pay.
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Your money, you decide how best to use it 😲

This post has been edited by mini orchard: May 7 2025, 04:04 PM

 

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