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 

How to safely purchase subsale property in Malaysia?

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



Joined: 06 Sep 2009
Posts: 9

PostPosted: Fri Apr 08, 2011 12:05 am    Post subject: How to safely purchase subsale property in Malaysia? Reply with quote

Hello,

I am looking at buying property in the subsale market and seek advice on the dos and donts to ensure I am not subject to any risks. I am new to investment in property.

I have been scouting for property. When i decide to buy a condo unit, I have no evidence that the person who claims to own the unit is the real owner with full rights to make a sale decision (what if there is a co owner, or what if the property is mortgaged for a value higher than the agreed price?)

In some cases, the agent is agreeing to be the stakeholder for the earnest deposit, and in some cases the seller is asking that I directly issue the deposit cheque in the seller's name. I feel wary about issuing a cheque directly to a seller without seeing proof of ownership and documents on the seller's outstanding mortgage amount. Am I being too risk averse? My preference is to have a reputed real estate firm or legal firm play the role of stakeholder for the earnest deposit.

At what stage in the process can I expect documents such as property title and existing mortgage documents be handed over to my lawyer? it is before S&P is signed?

Any advice on prudent purchase process will be appreciated. I want to play safe rather than find myself in a situation where I need to sue.
Back to top
View user's profile
reeverbot



Joined: 31 May 2011
Posts: 6

PostPosted: Tue May 31, 2011 3:17 pm    Post subject: Reply with quote

dear Vee R


if am not too late to reply, do reply me Very Happy




sincerely,
reeverbot
Back to top
View user's profile Yahoo Messenger
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