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Purchase property direct from owner
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TSFYC
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Aug 18 2008, 06:40 PM, updated 18y ago
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New Member
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Dear readers,
Wish to seek your advice what are the things to look out for when buying a commercial property direct from the owner. I mean documentation wise, should I check with town council, bank etc to ensure validity of the documents. Or just engage a lawyer, he or she will settle all that?
How about say buying a piece of vacant land how do you ensure the seller is the real owner? Heard couple of land scam in land office so what can an investor do to prevent getting con.
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johnsonm
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Aug 19 2008, 01:50 PM
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Getting Started

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FYC, find out if the title is out. If it is, engage a lawyer to conduct a title search. This will show who the owner is. This will cost RM30.
If the title is not out, write to the Developer to confirm. You will have to pay them RM50 for their confirmation.
Alternatively, you could ask the owner for a CTC of the title or the Sale and Purchase Agreement, but of course the search/confirmation is much better protection for you.
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TSFYC
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Aug 20 2008, 09:29 AM
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New Member
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Thank you Johnsonm for your kind advice.
This is a 14 yr old property as such title should be out. Unfortunately the owner does not carry proper documentation at that time and dont even know the built in area. Will engage a lawyer to do a proper search. Anyway, thanks again.
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