HOME  -    PROPERTY ADS   -   DISCUSSION FORUM   -   REALTORS   -   LINKS    -   CONTACT US



Realtors and Real Estate Agents - Sign Up for Free Account at Property.net.my >>


Malaysia Real Estate
Malaysia Real Estate Portal
 
 FAQFAQ   SearchSearch   UsergroupsUsergroups   RegisterRegister 
 ProfileProfile   Log in to check your private messagesLog in to check your private messages   Log inLog in 

Max number of properties for foreign buyer

 
Post new topic   Reply to topic    Malaysia Real Estate Forum Index -> S & P and Legal Issues
View previous topic :: View next topic  
Author Message
eugenep



Joined: 13 Nov 2005
Posts: 27

PostPosted: Tue Mar 29, 2011 7:57 am    Post subject: Max number of properties for foreign buyer Reply with quote

Hi -

Is there any cap for number of properties foreigner can purchase? This is in regards to the state authority consent. I checked with a few lawyers but they are giving me different answer. Some said no limit but some said only 2 or 3. Eg I have 3 properties in Selangor, can I still purchase the forth one in the same state?

The reason i'm asking is because I have a foreigner buyer that interested to buy my condo & letter of offer has been signed by both party. As a seller, i have limited knowledge on the inconvenience in selling the property to a foreigner when i sign the booking form until i did some study recently.

Due to the state authority consent approval process, I'm fine to wait for another few more months to proceed with the procurement process but my concern is the risk that the state authority might reject the application for whatever reason. Therefore, i will lose the legal + agent fees potentially.

The questions are.
1. Any clause that i can put in to protect me as a seller like all the misc cost will have to bare by the buyer if state authority consent is not approved the application?
2. How many properties a foreigner can purchased? Currently he have 3 properties in Selangor
3. Any good lawyer which is good in dealing this kind of transaction?
4. How many properties a foreigner can purchase in Selangor?

Thanks & looking forward to your reply.
Back to top
View user's profile
Display posts from previous:   
Post new topic   Reply to topic    Malaysia Real Estate Forum Index -> S & P and Legal Issues All times are GMT + 8 Hours
Page 1 of 1

 
Jump to:  
You cannot post new topics in this forum
You cannot reply to topics in this forum
You cannot edit your posts in this forum
You cannot delete your posts in this forum
You cannot vote in polls in this forum



This is a free forum intended to foster communication between all users.
Hileytech Sdn Bhd does not guarantee the correctness or validity of postings, nor does Hileytech endorse any postings. No posting or contents in this forum can be copied and reproduced without prior permission from Hileytech and the owner of the posting. All other names and marks are trade names, trademarks or registered trademarks of their respective owners.
Powered by phpBB, Another web site by www.hileytech.com,Forum Archive
Tel : +603-89449965, +603.89449365 ::  Fax : +603-89440665 :: hiley@hileytech.com