What are the procedures to purchase a property from the developers?
The following are the steps to take: a) You will first need to pay a booking fee which is 10% of the purchase price for the exchange of the Option and Sale and Purchase Agreement. b) Within 14 days after you’ve paid the booking fee, your lawyer will receive a Sale and Purchase Agreement from the Developer. You must then sign the Agreement and pay another 10% of the property in the following 3 weeks. During this time you will also pay for the stamp duty. c) After that, you should arrange for funds from the bank, and the CPF board for another 80% of the purchase price to be paid in stages. d) Once you have made all progress payments, the Legal title will be issued to you.
Related Questions
- Must foreigners buy new Malaysian property only, such as from developers, or can they purchase any property, such as from individual owners (second hand or third hand property)?
- property only, such as from developers, or can they purchase any property, such as from individual owners (second hand or third hand property)?
- Why should a candidate buyer purchase a property from Chaps Developers?
