Malaysia first e-book on how to buy a Property
Buying a house will require some cash in hand but some New Launch might offer Zero Down, always safer to have some cash in hand in case bank need you to top up if buying using loan.
Usually can loan up to 90% unless is your 3rd property or more or commitment is higher than expected
Next step will be checking your CCRIS report. CCRIS report is a report used by all the banks in Malaysia as a reference before giving out a loan.
If you’re going to get a loan now or in future, you want to maintain a good CCRIS report.
You can print your CCRIS Report by walk-in to any Bank Negara branches all over Malaysia, or you can request it online.
Prepare full complete personal documents, property booking receipt, and seller’s SPA/Title copy to apply for a home loan. Make sure everything is complete to avoid any delay later.
Bank’s approval usually will take about five to seven working days. Once approved, you can choose the bank you like.
Once your loan is approved, is time to sign your letter offer. Make sure you have read every single clauses and pages, ask bankers for explanation and clarification.
After signing offer letter, is time to sign the S&P but make sure to read every single clauses and pages before signing and make sure you are understand and clear.
Inspecting the house to make sure everything is accordance to what have agreed with owner or developer before Bank release the final payment.
Counter check to make sure everything is accordance to what have agreed with owner or developer, check for defect before signing
Country H Damansara