If you get to know about an upcoming project launch, register your interest with the developer so you’ll be the first to know about the latest news and updates about the project.
If you’re cash rich, you probably may not need to obtain a housing loan. However, more often than not, a property buyer will require a housing loan to help them finance their property. Apart from conventional loans offered by financial institutions, you may also consider signing up to enjoy the benefits of the 1Malaysia People’s Housing Programme (PR1MA) or My First Home Scheme, if you’re eligible.
Ensure you have submitted all the relevant documents required for a housing loan to your desired financial institution and wait for the approval of your loan before you can proceed with your property buying process.
Upon the signing of the SPA, you are required to pay the remaining amount of the deposit, depending on the margin of loan you have obtained.
Like the SPA, you are required to sign the loan agreement through the appointed lawyer.
If you are buying a property still under construction, the payments to the developers will be disbursed by the financier (if you are taking out a housing loan) according the stage completed in Third Schedule.
The delivery of vacant possession of the property will take place when the developer hands over the keys to your new property. Collect keys from the developer and start planning for a house warming party!
