Friday, February 18, 2011

Property purchasing procedure

I have worked in a lawyer firm prior my current job, and yes, I was involved in the SnP agreement and what not semua. I just thought if you guys want to know what are the relevant procedures yg terlibat during house purchasing:

1. Sale and Purchase agreement : This is the agreement between you and developer. So basically here. there are stamp duty fees, legal fees, ect fees (transportation, fax, email and what not semua la). If you guys nak tahu how to calculate stamp duty, you can go to this link :

Just insert the amonut of your housing price, it'll calculate right away for you.

2. Loan agreement : This is between you and bank pulak. Again, here will be another lawyer fees. Before, when I was in the lawyer firm, most purchaser would go for the same lawyer firm for both procedure. It is easier if you are buying a first hand house, a new devoloping housing area, the developer would suggest you with their panel lawyer. The procedure will be faster since all purchaser are using the same lawyer firm (because yg masalah lama tu sbb there are tons of housing agreement on their tables, nak pergi pejabat tanah lg, pejabat hasil; so it takes years if the lawyer is handling only your matter; compared to they handle semua purcahser at one time.) That's why some developers akan buat promotion yg they will bear lawyer fees, and certain2 fees. But again, it's up to you. (lg2 kalau you are a lawyer, yourself,kn?;p)

3. Disbbkan kita owe dgn bank, we will have another agreement to let the bank keep our house grants for safe keeping. So that, if we are declared bancrup (Nauzubillah..), tak mampu nak byr ansuran ke, bank akan lelong rumah kita to settle the amount yg we owe them. We will only have the photocopy grant shj =) (This is for loan with bank, if you are taking government loan, it'll be different)

4. If you are buying a first hand flat/apartment/condo, after a couple of years (I cant remember the exact time), your lawyer firm will call you for another agreement signing. This agreement is to facilitate in individual grant/starta. Meaning, masa mula2 rumah siap, grant is for the one whole block. So, now diaorg nk give you individual grant (berdasarkan nombor and tingkat rumah masing2). This is so, if one day you nak jual rumah ke apa, sngla..

5. After full loan settelement dengan bank, lawyer firm akan call for another meeting, to release the grant back to you. 

Habisla urusan dgn lawyer (Finally!).

All this procedure yg I write ni is for a first hand, new houses tau. If you are buying a second hand house, or nak buat tukar nama, or nak buat refinance, that'll require for other procedure (property evaluation etc). I am not really sure on the procedure because I only handle first hand house punya matter.

p/s- If there's anything yg slh on this writing, I am very sorry. And yes, if there's anyone yg nak re-correct any part, is welcome.  Because, these are basically from my experience working as junior clerk in a lawyer firm bank in 2007. And i had fun when I was there! =)


  1. hehe..tertanya2 gak camne procedure nak beli rumah b4 ni..

    and ada org yg juz bayar booking rumah dlm rm500-rm1000 tu cmne hanie? yg laen full loan ke cmne eyh? tak paham ler..huhu

  2. Ana, ini yg setakat kita tahu and kita tanya kat bank ok?

    For example, kalau Ana beli rumah drpd sesiapa shj (be it from developer-first hand house or other individual-second hand house), kita mesti kena byr sekurang2nya 10% drpd harga rumah masa kita booking rumah tu. Sbb takde bank yg offer kita 100% housing loan. So, katakanlah kita beli rumah RM 80000, bila kita setuju nak rumah tu, kita kena byr RM 8000 dulu to that person/developer.

    Lps tu, pergi bank, cari housing loan. Most of housing loan akan bagi pinjaman up til 90-95% drpd harga rumah (ada yg termasuk MRTA, ada yg tak). MRTA ini insurans untuk rumah yg kita nak beli tu.

    So, mcm CIMB yg kita pernah tanya, MRTA = 5% drpd harga rumah (because kita tanya kalau rumah ni second hand house, rumah first hand, MRTA akan lebih tinggi). So RM80000-RM 8000(yg kita dah byr td) + 5% MRTA= bank akan bagi pinjaman lebih kurang RM 82k++. Lebih kurang mcm tu la..

    Tp, kalau kita nak beli rumah mak kita ke, family yg terdekt, yg tak perlukan deposit + second hand house, bank akan hantar evaluator utk menilai brapa harga rumah tu blh dijual. From there, brla bank akan decide brape pinjaman yg dia akan bg. And every bank akan bg different amount of loan.

    Hopefully, this helps. Tp, nnt kalau kita info yg lbh menarik, akan kusebarkan dlm blog ni lg ye? =)

  3. owh..paham2..

    kalo gov loan len citer kan? haha..ok, boleh tak request pasal harga umah skrg..kat area2 kl/selangor ni? muahahaha..main2 request lak..

  4. Owh, itu bergantung la,ana..cuba google - i / ctu sng skit nak tgk harga rumah, squarefeet brape...lg sng ana phm harga rumah kwsn tu..

  5. The payment of RM500 to RM1,000 sebagai booking fees is just that. "Booking".

    Basically the onus is on the buyer to pay the balance of the deposit (minus booking fee) within the stipulated time and get financing for the property as well. In the case of untimely compliant or non payment of deposit, and financing, the booking fee could be forfeited by the developer.

    Time is of essence. Lambat settle deposit, samada akan burn booking fee atau kena charge interest. Lambat process loan, samada lose your deposit or kena charge interest. Bank lambat disburse loan, kena charge interest. Lambat proses MRTA, kena charge interest sebab bank tak disburse loan etc...

    All will cost money.

    And, ALWAYS chase the lawyer, to check on the S&P/loan/MRTA status, be it loan lawyer or developer/seller lawyer. They work within a certain timeframe, everything will cost money.

    Do not assume they will call you, even if you have paid fully. They will just send in letters which will arrive a few days late :)

  6. hanie,

    if am not mistaken..dlm bajet 2011 yg PM umum last year..for the 1st timer yg nak beli rumah will get 100% loan starting dis year..please check back the TOC dgn bank...

    Jaem - Malas nak sign in nye pasal..sorry dear

  7. eyh T&C lah..bukan TOC..sorry

  8. i bought a house recently, booking mmg around rm500 to 100o depends on developer. tp duit tu akan return to customer afetr rumah siap kan. utk gov servant better amek gov loan sbb x byk songeh dan sgt sng procedure die. xde dwpment 10%. loan 100%.guna loan bank ili x sure la plak. mmg lawyer firm (yg di hired by developer) akan call utk sign agreement. then thats it sampai nk tkr nama rumah kenela byr aorund rm1500 cmtuh. as far as concern permohonan laon umah gov boleh dibuat online. tp usually developer lbh suka manual (sbb ada documentation n everything la). ok itu sje nk ditambah :)