I'm going to share on my own experience on how i purchased a house. These are what I've done.
1. Done a lot of online search especially through Mudah.my and Iproperty websites.
2. Select the houses that I was interested to view.
3. Print all the related house ads.
4. Call up house agents/owners and set up appointments with them to view the houses. Ask for the rules & regulations of the payment. It may varies from 1 agent to another.
5. Go to new house launchings.
6. Go to property exhibitions.7. Done some research through online forums and friends.
I finally purchased a new house which is still under construction. Ok for this type of house it's a bit risky. Pls make sure that the developer is a well-known and established and have done big and successful projects. You can always know from their own website and also iproperty site or even forums. Plus for me I decided to buy because I dont have to pay anything until I receive the house key in 2013. Meaning that the developer itself will consume the interest or whatever cost during construction. So it's a bit safe. And besides that if you purchase a new house, you can save up a lot due to it's 'free' package, eg : legal fees, stamp duty, valuation fees that could sum up to few thousands.
So these are what I've done after I decided to buy the new house.
1. Paid the booking fee.
2. Asked a few banks (the developer panels) to quote their loan package.
3. Choose the best of all the offered packages, as for me I chose Kuwait Fiannce as it offers me the highest BFR(-2.4) and eventho the years for installment is only up to 65 years old, the total ammount paid is lesser than the other banks that offers me the lower BFR and longer period.
4. Waited for S&P from developer and letter of offer from bank.
5. Once S&P is ready, applied from EPF to withdraw the money from account II for downpayment. EPF needs this docs: photocopied of bank statement and IC (front and back)
So these are what I've done after I decided to buy the new house.
1. Paid the booking fee.
2. Asked a few banks (the developer panels) to quote their loan package.
3. Choose the best of all the offered packages, as for me I chose Kuwait Fiannce as it offers me the highest BFR(-2.4) and eventho the years for installment is only up to 65 years old, the total ammount paid is lesser than the other banks that offers me the lower BFR and longer period.
4. Waited for S&P from developer and letter of offer from bank.
5. Once S&P is ready, applied from EPF to withdraw the money from account II for downpayment. EPF needs this docs: photocopied of bank statement and IC (front and back)
I have yet to learn how to purchase a second-hand houses. Maybe soon. Insyaallah kalau ada rezeki :)
Write something, how to finance it tooo :)
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