7 Steps You Must Know When Buying Your Dream Property

When you passed by a beautiful house you may wish to know who the owner of the house is and you may also dream to have a house as beautiful as the one you saw. You may then go round housing estates hunting for your dream house. Can you find one? If you could find a dream house, do you have the money to buy? Is the location of your dream house suitable for you and your family? To purchase your dream house or a simple house, there are many things that you may need to consider. 1. Approach the Owner and Get Necessary Documents Once you have set your mind to purchase your dream house, the next thing you may need to do is to approach the owner or the developer of the house and to find out whether the house have a separate title. After that you may do the following things: i. Request for a photocopy of the title; ii. Request for a photocopy of the quit rent receipt; iii. Request for a photocopy of the current assessment receipt. Above all, make sure that you deal with the owner of the house or his duly authorized agent. […] read more

The Hidden Costs of Property Investment

You may have thought that property investment is a lucrative and ideal investment to venture today. Not only it can secure your financial freedom in the future, it also provides you passive income. For example, by purchasing a property now at a price of RM450,000-00, you may be able to sell it in the near future at a price of RM550,000-00. This is an outright RM100,000-00 profit from your RM450,000-00 investment. Now, think again! You’re not actually making a RM100,000-00 profit at all. When you purchase a property, you have to pay the costs of acquiring a property. The same applies when you sell your property. As a prudent investor, you have to calculate the legal costs on top of costs of hiring property agents and so in your acquisition or disposition of property. Let us briefly explain the costs that may involved in the property transaction from a lawyer’s point of view. Legal Fees Legal fees are fees payable to lawyer for taking instruction, drafting of agreements and documents and attendances thereof. These fees may include preparation of Sale and Purchase Agreement, Memorandum of Transfer, filing CHKT forms and various other documents and handling correspondences. These fees  are governed by the legal […] read more