I have never bought a house before where do I start?
The first step is to determine your property location you want and affordability (budget), as most people need to buy with the help of a mortgage loan. As a general guide, the monthly loan repayment should not exceed about 35% of your gross monthly income. 

What is the difference between an apartment, a condo or a flat ?
In Malaysia, apartment and condo are the same meaning. Most condo or apartment will have condominium facilities and security services. Flats generally means medium or low cost flat and in most cases would not have the facilities unlike condominium.

Can I buy property if I am not a resident of Malaysia?
Yes. Non-Malaysian & Foreigners intending to purchase a property in Malaysia needs to obtain the respective state consents which the property is situated before the purchase is considered valid and lawful.  ( In most cases, your solicitor would submit the application on your behalf).
 

How does the actual buying process work?
Once you have agreed on the terms with the seller, arranged the financing if required, you need to engage a lawyer to advise and act on your behalf when signing the Sale and Purchase Agreement and making payments until the transaction is completed. The money is paid to the solicitor who will forward the money to the seller when the transaction goes through.


How do I pay for the purchased unit and when should I pay?
You pay a 2% earnest deposit to secure the property when you first decide to buy the property.  (This is the booking deposit and will become part of the deposit after the legal Agreement is signed). Once the vendor signed the Letter of Intent and accept this deposit, he cannot sell the said property to any other party. The Sale and Purchase Agreement (SPA) to be drawn up by the solicitor and upon signing of SPA, pays 10% of the purchase price (minus the earnest deposit). The remaining 90% is paid within the next 3 months from the signing date of the SPA. An extension of 30 days is allowed, with an interest of approximately 6% per annum on the balance sum. This is the normal basic framework of the agreement subject to your lawyer's advice and the usual practice. Once your legal representative has finished their searches and investigations, and all monies are paid over, the title transfer are finalized, and the property is all yours.