Lowyat.NET: Latest topics by resident

Landed residential property investment

resident — Thu, 02 Jun 2016 17:02:29 +0800

Hi property experts and property fans,

Which landed property do you think I should buy? I've been thinking for weeks but still can't make up my mind. Hope you guys and gals can provide feedback and advice

Property A:
35 year old property in a very established area, walking distance to LRT and shops and commercial areas, should be very easy to rent out whole unit or separate rooms. But I hate the fact that the property is so old and am uncomfortable whether it may have "bad history". And it's not gated & guarded.

Property B:
5 -year old property in a very decent area, gated & guarded, but NOT walking distance to shops, commercial areas and no LRT. Since the location is decent, renting out to families should be do-able but rental demand will be far less than Property A. But since the property is relatively new, chances of "bad history" are less and I'm more comfortable with it.

Both properties are the same price.

My aim is to rent the property out for rental income but I might live there in the future once I get married and have kids.

I may sell the property after 20 years, so the property must be sale-able.

Closed

resident — Sun, 22 Mar 2015 18:14:52 +0800

Closed

Need advice on car accident

resident — Thu, 21 Jun 2012 18:20:59 +0800

Dear all,

Need advice urgently.

A car driven by a student reversed and knocked into the front of my car.

We had a long discussion (me vs him, his bro and friend), he initially agreed to follow me to a workshop for estmate of damages but when we arrived there he told me to make a police report and drove off.

I'll like to ask:

1. I made a police report in PJ station (since it's near to the workshop) but the accident happened in SS16 Subang. A nice policewoman accepted my report but said I have to go to Subang station for interview/photos. We I asked her which station in Subang, she said USJ Taipan but when I later read the report, the address given is the SS17 station. Which station to go to for accidents?

2. If the other party does not make a police report within 24 hours, does it mean he is automatically blacklisted or samaned or presumed guilty? Someone told me the 24hour deadline is no longer practised.

3. My apartment's CCTV has a damning recording that proves the other party is guilty. Unfortunately, the only way to view the footage is at the management office. Anybody knows if the police investgating officer willing to travel to view evidence for relatively minor accidents?

4. Finally should I pursue this case or let it go since this is relatively minor accident?

Need Advice on Car Accident

resident — Thu, 21 Jun 2012 17:39:10 +0800

Dear all,

A car driven by a student reversed and knocked into the front of my car.

We had a long discussion (me vs him, his bro and friend), he initially agreed to follow me to a workshop for estmate of damages but when we arrived there he told me to make a police report and drove off.

I'll like to ask:

1. I made a police report in PJ station (since it's near to the workshop) but the accident happened in SS16 Subang. A nice policewoman accepted my report but said I have to go to Subang station for interview/photos. We I asked her which station in Subang, she said USJ Taipan but when I later read the report, the address given is the SS17 station. Which station to go to for accidents?

2. If the other party does not make a police report within 24 hours, does it mean he is automatically blacklisted or samaned or presumed guilty? Someone told me the 24hour deadline is no longer practised.

3. My apartment's CCTV has a damning recording that proves the other party is guilty. Unfortunately, the only way to view the footage is at the management office. Anybody knows if the police investgating officer willing to travel to view evidence for relatively minor accidents?

4. Finally should I pursue this case or let it go since this is relatively minor accident?

*a thing that troubled me - the other party is wrong but there's not a trace of remorse in them. They resorted to insults, anger, etc.

Top up loan on home loan

resident — Sat, 29 Oct 2011 22:26:49 +0800

Hi all,

Has anyone here tried to "topping up" their current home loan?

Let's say the loan amount I currently owe the bank is RM150,000 but the market value of the property is RM350,000.

So, I'll like to "unlock" at least some of the RM200k (RM350k-RM150k) to pursue investment opportunities.

I recently learned of this thing called taking a "top up loan" from the same bank as the home loan.

What I know:
- Bank will offer only 80% margin of finance (MOF) of market value (but CIMB can offer up to 95%, according to website)
- There's no need for a new loan agreement, bank will just issue a new offer letter
- Still need to bear the valuation cost. And stamp duty.
*correct me if I'm wrong

My questions are:
1. If I have only one home loan so far, will this "top up loan" be considered a second home loan? Will I thus be limited to 70% MOF when I buy my second property?
2. As I need to bear valuation, does this mean the valuer will personally visit my house to value it?
3. If I refinance instead of topping up, will I be considered to be having one home loan or two home loan? Will I thus be limited to 70% MOF when I buy my second property?

Let's discuss.

<WTA> Looking for mobile car mechanic

resident — Fri, 18 Sep 2009 08:39:27 +0800

Hi all,

My old Toyota is giving me problems (the engine sometimes stall/'die' at traffic lights/roundabouts) yet I can't seem to find the time during office hours to sent it to a workshop.

Can someone kindly pass me the contact of a good and trustworthy mobile car mechanic covering Subang Jaya?

What I'm looking for is a mechanic who can come to my apartment to fix my car at a time convenient to me, preferably after office hours.

Thank you.

What to do after getting property keys

resident — Sun, 30 Nov 2008 22:04:14 +0800

Hello all,

I have a newbie in property purchase, hope you all can advise me with your knowledge and experience.

Anyway, I recently bought a freehold apartment unit (still under master title) from the subsale market and I've lots of questions:.

1. The bank has disbursed all the money and the seller had faxed a letter giving me permission to pick up the keys from the apartment management office. Once I get the keys, does it mean that I have received vacant possession and can move in or begin renovation? The reason I'm asking is because the various bills (Tenaga,assessment, quit rent, etc) have not yet being divided between the seller and me.

2. Tenaga
(i) Is it better to open a new Tenaga account or apply to change the property owner's name?

(ii) When applying for a new Tenaga account, other than a photocopy of the SPA, and money for deposit, do I need to bring along a RM10 Setem Hasil(Duty Stamp)?

3. Quit rent & assessment
(i)For an apartment still under master title, are the quit rent & assessment paid to the apartment management office or to the land office and local municpal council respectively?

(ii) Should I go personally to the land office and local municipal council to change the owner's name to my own ASAP?

My lawyer is on long MC and his clerk is a bit unsure, so I hope forum members can help. Thanks in advance.