Selecting Your Home Sweet Home
Looking for the best deals in investment properties? or a Dream Home?
Here are some tips for you:
Selecting Your Home Sweet Home
Looking for the best deals in investment properties? or a Dream Home?
Here are some tips for you:
look for easily accessible to public amenities, such as schools, banks, markets etc.
to ensure there are ample and convenient car parking lot available.
to visit the show unit if available, to get a better perspective of floor layout, specifications and quality of workmanship provided by developer.
visiting site of the “targeted property” at different times of the day to get a better assessment of the property.
select a neighbourhood with low crime rate; with the tremendous rise of crime rates today, may be you wish to consider gated and guarded community for safety of your love ones?….THINK TWICE
nevertheless, it is better to purchase a property that is within your budget.
You are strongly advisable to get in touch of a few bankers to compare and obtain the best loan packages provided. If you wish, you may also seek the assistance of the respective developer.
To expedite in processing of loan, documents required are:-
The Employees Provident Fund (EPF) allows you to withdraw your savings in ACCOUNT II to part finance the purchase price of a property from developer.
ELIGIBILITY
You are eligible to apply if you are:
CONDITIONS FOR WITHDRAWAL
AMOUNT ELIGIBLE
You can withdraw your savings based on the following, WHICHEVER IS LOWER:
Sole/Single Purchase
The difference between the purchase price of the property and the loan amount with an additional 10% of the purchase price of the property OR the balance available in Account II;
Dual Purchase
The difference between the purchase price of the property and the loan amount with an additional 10% of the purchase price of the property OR the balance available in Account II of all applicants subject to the maximum eligible amount as stated above;
Cash Purchase
If you purchase a property by cash, you are eligible to withdraw as much as the purchase price of the property with an additional 10% OR the balance in Account II;
Full Loan (100%)
If you obtained a full housing loan (100%), you are eligible to withdraw as much as 10% of the purchase price of the property OR the balance available in Account II.
Remarks:
ENQUIRIES
If you have any enquiry or require further information on the withdrawal, please visit or contact:-
Please quote your EPF membership number and you are encouraged to contact the EPF directly for assistance and advice.
Upon payment of 10% to the developer, you are immediately advised to execute the Sale and Purchase Agreement (SPA).
Types of Agreement:
FLOW CHART from execution of Sale and Purchase Agreement until loan drawdown
Legal Fees for Sale and Purchase Agreement and Loan Agreement are governed by the Solicitors’ Remuneration Order 1991 which provides the Standard Scale in determining your Solicitor’s fees.
Generally, these fees are borne by the buyer. However, certain developer and financial institutions may absorb these fees as part of their marketing strategies.
The Malaysia My Second Home (MM2H) was launched by the Malaysian Government to encourage Non-Malaysians from Overseas to retire in Malaysia or spend a considerable time in the country on a social visit pass (10 years) with a multiple entry visa which would allow them to and from Malaysia freely.
Under this programmed, the eligible foreign citizens will get to enjoy the relatively high standard of living, and at the same time experience the diversity of food and culture that our multi-racial country is able to offer them, all these without having to forego their citizenship.
For those successful applicants who wish to purchase properties, they are exempted from having to obtain Foreign Investment Committee (FIC) approval.
Any enquiries, please login to www.mm2h.gov.my for more information.