Median property price per MRT station

beleebala — Tue, 04 Dec 2018 15:35:51 +0800

Interesting article!

Properties near MRT stations

MM2H Frozen, what would be the impact?

beleebala — Tue, 02 Oct 2018 11:11:30 +0800

MM2H frozen

So, who will buy the >1M properties?

Property Talk jargons, terms, acronyms

beleebala — Sun, 02 Sep 2018 22:21:24 +0800

Would anyone be kind enough to give me some help with the jargons and acronyms widely used in this forum? Is there a list with explanations somewhere? LOL

Thanks to hanhanhan. I have consolidated his inputs in the following. I will update this list when there are more inputs.
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DMC - deed of mutual covenants (usually for condo and gated developments): usually states the house rules and regulations, what you can or cannot do within the common area; also states what is or isn't common property

DOA - deed of assignment: if you buy subsale house or if you need to gadai your house to the bank but individual title isn't issued yet, you'll need to assign the rights & ownership in the house to the bank/new owner

DLP - Defect Liability Period aka warranty period: this is in the HDA S&P, where developers are forced by malaysia gahmen to give at least 2 years warranty over your property, common area and the whole building generally (including facilities etc). however if you go and do renovation and your contractor screw up something then consider ur warranty for your unit void. it's pretty much an oxymoron...if u dont renovate for 2 years.. then ur unit leave there collect dust.

DRR - Deed of Release and Reassignment / discharge: once you settle your loan, you'll need to get back the house from the bank

FFK - fong fei kei: when agent make appointment with prospect to view unit.. but prospect dont answer call and whatsapp double blue tick 'SEEN'

HDA - Housing Developers Act (this isn't the full name for the act): HDA is basically an act that housing developers (keyword: residential) have to follow. basically a guidelines that they have to play by. If u buy from developer a residential property under construction , they must use the HDA S&P; HDA S&P is 'fair' to both parties but arguably favoring the purchaser more. developer CANNOT amend the main T&C of the HDA S&P. if you sign HDA S&P , consider urself well protected under the law. how to identify HDA S&P.. check 1st page of your S&P.. it should state either "Schedule G, H, I or J"

JMB / MC - Joint Management Body / Management Corporation: this is what you identify as 'condo management'. there are a lot of technical details on this to explain in simple words. maybe next time

LA - loan agreement: The set of documents to protect the bank's interests over the property. The T&C of the LO will be incorporated into the LA. Basically these documents are heavily favoring the bank. As long you don’t default the loan you can ignore it.

LAD - Liquidated Ascertained Damages: a pre-agreed amount/method of calculation of damages a party can get pursuant to a breach/default of a contract/obligation; the amount/method of calculation must be stated in the contract; common example:-
1. in a tenancy - tenant vacate 8 months earlier than the intended expiry of tenancy term. landlord can claim LAD for 8 months rental for the unexpired term (provided if agreement says so)
2. in a property purchase - developer delay in handover VP to purchaser - purchaser can claim LAD from developer once they get the key

LO - Letter of offer: this is the letter from bank, to state your approved loan amount, tenure, interest rate etc. This is the most important thing to a buyer's perspective in relation to the loan

MOC - memorandum of charge: once title is issued and you still have an existing bank loan on the property, you'll need to register the bank's name on the title as well

MOT - memorandum of transfer: the document you sign once the individual/strata title to your property is issued by the government; you'll need to pay stamp duty to LHDN to register your name on the title (transfer the title to you)

RPGT / CKHT - Real Property Gains Tax / Cukai Keuntungan Harta Tanah: amount of tax you need to pay to gahmen (kastam) if you sell your property within a certain time period/ subject to certain conditions.

SPA - sale and purchase agreement: the agreement you sign to buy the house.

VP - Vacant Possession: when a party takes the key / possession to the property/land from the other party; common example:-
1. in a tenancy - during start of tenancy, the Landlord give VP to tenant, at the end of tenancy term the tenant return VP to Landlord
2. in a property purchase, VP will be given upon the full payment by the purchaser of the purchase price

What to buy with 1.5M?

beleebala — Tue, 31 Jul 2018 14:46:18 +0800

Dear all,
I am planning to move to KL with my wife in a couple of years. I can afford RM 1.5M for getting a property. What projects would you guys recommend for:

1. Investment: good rental return + capital gain

or

2. Living: 2 persons without kids; semi-retired life

New to KL. Your suggestions and info would be much appreciated.

Lowyat.NET: Latest topics by beleebala

Median property price per MRT station

MM2H Frozen, what would be the impact?

Property Talk jargons, terms, acronyms

What to buy with 1.5M?