Real estate Malaysia / TH Lim Property Malaysia

  In Malaysia, there are mainly 3 types of land titles: 1) Freehold 2) Leasehold 3) Malay Reserve. However purchasers must be aware of other titles like Master Title, Individual or Strata Title. 1) Freehold Property It means ownership in perpetuity. It is easy to transfer from one person to another as no consent is required from state or federal government authorities for the transfer and charge of the property. However, in certain states or some places in Klang Valley, freehold properties may have “restriction in interest” and which required state authorities or land office consent. The time taken to complete the transaction is usually 3 to 4 months. The government has the right to acquire the freehold properties for Public Projects. You will be compensated at the market rate for the forced acquisition of your entire property or part of your land. Freehold properties are the most preferred types of properties as they command better resale value and they tend to appreciate faster. 2) L

  Announced during PENJANA 2020, under the Exemption Order, gains arising from the disposal of residential properties after 1 June 2020 until 31 December 2021 will be exempted from RPGT . Such exemption is granted for up to three residential properties per individual if the following conditions are fulfilled: 1. the disposer must be an individual who is a Malaysian citizen and is the sole or joint owner of the property to be disposed; 2. the property disposed must be a ‘residential property’, namely a house, a condominium unit, an apartment or flat in Malaysia, and includes a service apartment and a small office home office (SOHO) which is used only as a dwelling house; 3. the residential property which is being disposed of is not acquired by way of: transfer between spouses; or a gift between spouses, parent and child, or grandparent and grandchild where the donor is a citizen; and 4. the SPA for the disposal of the residential property is executed on or after 1 June 2020 but not late

 4 advantages if property owner(s) has registered his/her name in the strata titles:- Property owner(s) rights are protected Expedite the process of transfer, charge and distribution of inheritance Join the management corporation Able to refinance What happens if property owner(s) not register his/her name in the strata titles?? Delay the process of transfer, charge and distribution of inheritance Face difficulties in getting loan approval. 转移分层地契到您的名下的四大好处:- 1） 您的物业所有权得以保障! 2） 简化转让，抵押，以及财产分配的过程 3）加 入 管 理 机 构 (management corporation) 4）再融资 (Refinancing) 如果没有转移的话，会发生什么事？ 1）延迟转让，抵押，以及财产分配的过程 2）面临贷款审批问题

Beginning January 2021; EPF  contributors are allow to withdraw money up to RM60,000 from Account 1 via the i-Sinar facility Purpose of i-Sinar - to help those who have been impacted by the prolonged pandemic to make ends meet. The Pros of Withdrawing  "Helping" cash - With the i-Sinar facility, contributors will be able to lesser the financial constrain for up to six months (can be used as a top-up for the daily expenses such as food, house rent and  transportation etc) Help boost the economy - i t can help to further accelerate the economic recovery because as people have more cash in hand, they will spend to maintain their basic needs. This will then accelerate business activities as the will be demand for goods and services. The Cons of Withdrawing   Reduced retirement fund  take this situation as an example: Mr. Y currently has RM20,000 in his EPF savings account His monthly EPF contributions: 9% (new contribution rate in 2021) x RM1,680 = RM151.20. In a year, he’ll get

Covid-19 pandemic, some states / district in Malaysia is having MCO 2.0;  what are the SOP for residents and JMB of condo / service residences ??? call LIM @ O16 - 2O1 5998 for buy / sell / rent of any type of properties.  

  With developers failing to complete the construction and delivery of housing projects in accoirdance with the promised timeline, what then happens to the affected homeowners? Well, there is a clause in the Sale and Purchase Agreement (SPA) called Liquidated Ascertained Damages (LAD) that allows you to claim for compensation in such circumstances. The LAD is a contractually ascertained or pre-determined amount of damages that are claimable by either party in the event of a breach of contract (SPA). This clause can be found in the SPA. If you are buying a house from a housing developer, Clause 24 (2) of Schedule G of the Housing Development (Control and Licensing) Act 1966 (HDA) and Clause 25 (2) of  Schedule H  of the HDA provides that a purchaser has the right to claim for LAD for any delay in the delivery of vacant possession (VP) at the daily rate of 10% per year of the property purchase price. The delay in question would begin from the expiry of the period for delivery of vacant p

What is MRTA? It is an insurance  policy   that has   money  protection for property loan borrowers and their families. Specifically, it helps settle outstanding loan amounts  within the  event of death or   total disablement (TPD) of the borrowers. Why would  you need  it? This  MRTA   is basically  a protection mechanism for all  purchasers  with house loan,  and particularly  for households with sole breadwinners. Generally,  within the  event of untimely death or  incapacity  of a home loan  borrower  (especially if he/she  is that the   sole breadwinners ),the worst problem facing surviving household members is thei r ability to pay off the outstanding loan. In  several  instances, the  surviving   members of the family   might  even  have to disposed  the property at below market price just  to pay off the outstanding  loan . By accepted  for MRTA,  house benefiaciary   won't  be left with such burden  as a result of  it covers  half  or all of the unpaid portion of a housing

  Here are some pros and cons of purchasing a leasehold property: Pros: 1. Cheaper house prices! Assuming two properties are exactly identical where one is freehold and the other is leasehold, then the price of the leasehold property would be lower simply because the market prefers freehold properties. “I would say it would vary anywhere between 10% and 20% if both are brand-new properties with full lease. As the lease gets shorter, the gap widens up,”  2. Higher rental yields Assuming that a leasehold property is cheaper than a freehold one, the lower entry cost could mean higher rental yields although one also has to take into consideration other factors such as maintenance cost and the location. Cons: 1. Property loses value as lease shortens One disadvantage of owning a leasehold property is that its value starts to depreciate as it gets closer to the expiry of the lease. 2. Tougher financing options In fact, banks will usually stipulate a certain minimum number of years remaining

When is the ideal time to purchase a property???? If you ask me, I believe it's basic to comprehend the reason(s) behind purchasing. Try not to concentrate on the "when". At the point when you realise that it's a great opportunity to purchase, the property price would have just climbed for some time. If you made a purchase and the price drop within the next couple of months, you may not sleep well at night. Remain focus on WHY. The 'why' ought to be based on need and practicality. Properties price are certainly not on the high side today. Interest rates are additionally on the low side – in any event, when contrasted with rates from the 1998 Asian Financial Crisis – making it a fortunate time for you to apply for a home loan. In this way, in the event that you have the correct motivation to purchase, at that point proceed as both price and loan interest rates are our ally, as of now. To check your readiness to buy a propert