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Process involved of buying house in Malaysia:
1. Hire a lawyer specialise in property industry to help you within the deal. After that, need to pay 3% deposit
2. Within 14 days, you need to sign for the buying house agreement. Buyer has to pay another 7% deposit.
3. Pay the instalment according to the agreement.

Tax:
Buyers have to pay around 1.40% to 4.00%:
1. Stampduty 1% - 3%
2. Lawyer fee 0.4% - 1%
3. Others around RM200

Stampduty Rate:
1. Property first RM100k , 1%
2. Property with RM100,001 - RM 499,999, 2%
3. Property above RM500k, 3%

Lawyer Fees 0.4% - 1%:
1. Property first RM150k, 1%
2. Property with RM150,001 - RM 850,000, 0.7%
3. Property above RM500k, 0.6%

* just for reference, you can add details below too ! :D
There is chinese version too, please add on in the comment if some details missing , Thanks!

H  27ae60 small

Appreciate if any expert would check my process flow whether is correct or not.

Upon the agreement of agreed price by vendor/agent and purchaser:
1. Both sign Letter of Offer.
2. Purchaser pays 1-3% of earnest deposit to vendor/agent.
3. Purchaser applies for loan and engages solicitor to prepare S&P agreement within 14 days.
4. If loan approved, vendor and purchaser sign S&P agreement.
5. Purchaser pays the remaining % of earnest deposit to vendor/vendor's solicitor to make up the down payment. Down payment (10%) shall refer back the max loan (mostly 90%)approved by financier.
6. Purchaser's solicitor stamps the S&P at LHDN and pay stamp duty (MOT).
7. Purchaser's solicitor liaises with vendor's solicitor to settle the outstanding vendor's loan if any.
8. Purchaser's solicitor registers the stamped copy of S&P with land office.
9. Land office transfers the title to Purchaser.
10. Vacant possession of property.
11. Purchaser moves in.

Regards

Aaa logo main small

The SPA can be signed within 14 - 21 days. Not necessary 14 days depending on whether its a local or foreigner purchaser. With foreigner purchaser, they will also need to apply for state consent. which could take up to 3 months then only after the consent is obtained then the 3 months provision period for loan payment starts.

Jellyfish small

Hi hi, want to ask this applied to freehold properties right? Then how about leasehold properties? Got any additional step?

P  2c3e50 small

for leasehold properties, some requires state/MB consent if u want to transfer ownership. check the title document. Vendor is responsible to get the consent. 

Jellyfish small

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Jellyfish small

Oh I see, okay thanks! =D

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