A to Z Property

A to Z Property We have more than 5 years experince in real estate. Also was property Leader of sales team in Selangor and Negeri Sembilan area.

Landed,Condominium,Apartment,New project and Subsale also got handle

To buy a home make sure the supporting documents are complete. If you are employed, here are the required documents:Phot...
23/06/2022

To buy a home make sure the supporting documents are complete. If you are employed, here are the required documents:

Photocopy of identity card
Latest three month salary statement
Latest three month bank statement
EPF statement and / or EA form
Support documents for side income (rental income, ASB etc.)
Booking form or letter of intent to buy a house

Perform pre-assessment with a bankerYou can also ask for a banker help to screen your financial for loan eligibility.A b...
22/06/2022

Perform pre-assessment with a banker
You can also ask for a banker help to screen your financial for loan eligibility.

A banker can advise you how much loan you can take out based on your income.

You can print this CCRIS report at Bank Negara or online.From this report you can ensure there is no delay in repaying a...
22/06/2022

You can print this CCRIS report at Bank Negara or online.

From this report you can ensure there is no delay in repaying any commitments.

Checking the CCRIS report also give you a full picture of your commitments.

Sometimes, you don’t realise you own this and that commitment until you review. This can be a loan with a credit company such AEON for example.

Ensure remaining bank balance is healthyThe bank also look at your remaining monthly bank balance. If possible, make sur...
22/06/2022

Ensure remaining bank balance is healthy
The bank also look at your remaining monthly bank balance. If possible, make sure the end balance keep increasing every month.

In addition, if you own a salary around RM5,000 per month, it’s good that if your bank balance do not go below than RM1,000.

Avoid using more than half of your credit card’s maximum limit.This is because the bank will assume you depend on a cred...
22/06/2022

Avoid using more than half of your credit card’s maximum limit.

This is because the bank will assume you depend on a credit card and degrade your financial scores.

Make sure you pay existing monthly commitment to any financial institution on schedule.This can be a personal loan, car ...
21/06/2022

Make sure you pay existing monthly commitment to any financial institution on schedule.

This can be a personal loan, car loan, housing loan and others.

Bank knows your payment habit for existing commitment.

They can access to your payment record from the Bank Negara CCRIS system and use this report to grade your financial scores.

Say goodbye to your dream house if you pick up a late payment of two months in arrears for existing commitment.

Although bank can still approve if you have one month delay, they still consider you as risky and therefore your interest rate will be higher.

If you own a PTPTN loan, pay it on time. Settle any overdue amount or if you can’t afford, talk to PTPN officer to restructure or reschedule your payment.

Avoid selling cars without changing the ownership. If the new owner do not pay the installment, this will affect your CCRIS record, not theirs.

Do not being a guarantor. Same case as above, the risk is on you.

Don’t evade the tax. It’s unlawful and troubles your loan application.Bank will require EA form when you apply for housi...
21/06/2022

Don’t evade the tax. It’s unlawful and troubles your loan application.

Bank will require EA form when you apply for housing loan. So it’s important that you pay your taxes.

Most employer deducts the tax from the employee salary on a monthly basis. But some don’t.

If you are the later, you must pay your annual tax or risks getting your loan rejected. LHDN will penalised you too.

Your net salary in the payslip must tally with the amount received in the bank statement.It sounds common sense. But gue...
21/06/2022

Your net salary in the payslip must tally with the amount received in the bank statement.

It sounds common sense. But guess how many cases I handled with such problems? Many.

Check your EPF statement before you buy a houseYou want to make sure your employer pays the contribution consistently an...
20/06/2022

Check your EPF statement before you buy a house

You want to make sure your employer pays the contribution consistently and on a timely basis.

If not, the bank assumes your employer is problematic and will degrade your financial scores.

I handled a case before where the purchaser‘ employer forgot to contribute.

It messed and delayed the loan application. Lucky enough for me, the seller was kind enough to wait until the problem solved.

If you are an employee, make sure your status is permanent because the bank assesses your income stability through job s...
20/06/2022

If you are an employee, make sure your status is permanent because the bank assesses your income stability through job status.

Working as a temporary or contract staff reduced your chance to get your loan approved.

If you just started working, check your employment letter. Most employer will change your status to permanent after around 3-6 month.

Exception to that, banks still accepts a contractual civil servant but have worked for over 6 months.

Other costsFor housing loan there is also the cost of insurance and valuation.These costs are usually included in mortga...
20/06/2022

Other costs
For housing loan there is also the cost of insurance and valuation.

These costs are usually included in mortgages.

But as I mentioned before you should ask the banker about this on the chosen package.

Legal fee and stamp dutyPrepare cash around 3% – 5% of purchase price to cover for the legal fees and stamp duty.Legal f...
20/06/2022

Legal fee and stamp duty
Prepare cash around 3% – 5% of purchase price to cover for the legal fees and stamp duty.

Legal fees include professional fee and disbursement payable to the lawyer while stamp duty fees to Lembaga Hasil Dalam Negeri.

When do you need to pay for these costs?

When you engage a lawyer service, they will ask you to pay a deposit as collateral. In my experience around RM300 – RM500.

After you signed the sales and purchase agreement / loan agreement, they will bill you the full amount.

For loan agreement, most loan packages can absorb the legal fees in the loan. But please double confirm with your banker.

There are also loan packages that do not cover for the legal fee. For example, My First Home Scheme and Youth Housing Scheme.

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