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Nett earnings when selling a property..., how much do you actually earn?
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mIssfROGY
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 Jan 29 2008, 08:48 PM
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not as easy tho....especially if u dun get a buyer within the estimated money making time frame. The last time i tried to sell my house....i terkena a foreigner. If u get a foreigner buyer, u will have to transfer the title of the house 1st to your name, which can be quite costly. They used to be able to go around this, but latest rule is u must transfer to your name 1st. I didnt know this until later after so much trouble, and i gotto pay RM8k for the transfer. (but this applies if the title is out) But sometimes u can also get lucky....Like if the buyer backs out and the s&p signed, u get the 10% of the full selling price + the house  (oh minus 2% -3% agent fees) This post has been edited by mIssfROGY: Jan 29 2008, 08:49 PM |
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mIssfROGY
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Jan 30 2008, 01:06 PM
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QUOTE(meejawa @ Jan 30 2008, 10:19 AM) If the title is out, normally ppl will sell it off to avoid paying for the transfer (Investment property). But if the buyer knows this, he/she will insist on you paying first before signing the SnP (or caveat in SnP that the title is fully paid off). It's interesting the example you provided. I have a condo in KLCC area, which a foreigner (Iranian) was interested in. The strata is not out yet (condo takes many years for this as you know), so there's no issue of title transfer. But at the last minute he backed off, so he forfeited the 2% booking fees (the SnP wasn't signed yet, too bad  ). Yalorr...after so much trouble i went thru to avoid the transfer...sniff sniff. But i guess goodnews for me in a way...i demanded that the buyer pay half of my stamp duty which she did  And lucky u too...u got the 2%... I was calling my house my lucky stars...imagine if we get buyers like this every few months  Nah..thats day dreaming.. |
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mIssfROGY
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Jan 31 2008, 12:30 PM
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QUOTE(b00n @ Jan 31 2008, 11:58 AM) Have provided calculation which doesn't include legal fees, agent commission, interest paid, cukai, bils and others... Which doesn't show a net profit of RM40k though. But obviously it may be RM40k net profit if there's rental income. Or maybe no profit if no rental and dun get to sell the house...maybe get stucked....must be prepared to have staying power Ooo... |
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