The Purchase Process for First-Time Home Buyers

Purchasing your own property is generally an exciting time. However, it could prove to be a daunting affair as there are likely to be many questions in your mind. Here, we try to help you out with a simplified but important step-by-step guide towards your property purchase

Additional information on fees that you should take note of are as follows:

Property value Rate Rate First RM150,000 1% Next RM850,000 0.7% Next RM2 million 0.6% Next RM2 million 0.5% Next RM2.5 million 0.4% Over RM7.5 million Negotiable

On top of that, there is a 5% government tax and approximately

RM500 to RM1,000 disbursement cost. The disbursement cost

covers the following: • Stamping of Sales's Purchase Agreement (RM10 per copy x 4) • Bankruptcy / Winding up search • Company search (if applicable) • Land search (before preparation of the SPA & prior to the filing

of the Form 14A at the Land Office) • Registration of Transfer at Land Office • Affirmation on the Statutory Declaration to request for the 50%

waiver on the stamp duty on the transfer/ on the assignment. • Stamping on the Statutory Declaration to request for the 50%

waiver on the stamp duty on the transfer/ on the assignment

Transportation

• Printing / facsimile / telephone / photocopy charges • Miscellaneous charges

Real Estate Agent's Fee

Property value Rate Rate RM500,000 and below 2% Over RM500,000 3%