You need to prepare the following payment :-

• 10% of the Purchase Price as Deposit
• Legal Fees
• Stamp Duty
• Disbursement
  
  

Note: The calculation of Deposit, Legal fees & Stamp duty are based on the Purchase Price. 3% of the Deposit to be paid during the signing of Offer To Purchase. Balance 7% upon signing of Sale and Purchase Agreement

You need to prepare the following payment:-

• Legal fees
• Stamp Duty
• Valuation fees
• Disbursement
  
  

Note: The calculation of legal fees & stamp duty is based on the Loan sum. Payment to be made during the signing of Loan documents.  You could opt to finance the above payment in your loan.

The calculation of stamp duty is based on the Loan Sum. Formula as below:-

Total Loan Sum x 0.5%

E.g. If Loan sum is RM 500,000 then 
RM 500,000 x 0.5% = RM 2,500

Yes. Stamp duty will be exempted on both instrument of transfer & loan agreement if:

• Market value of the residential property is not more than RM500,000
• Sale and purchase agreement is executed on or after 1.1.2021 but not later than 31.12.2025;
• The individual has never owned any residential property including a residential property which is obtained by way of inheritance or gift, which is held by either individually or jointly;
• Only applicable to residential property.

Yes. You could apply to withdraw your fund in Account 2 to purchase the residential property. Kindly check with EPF for further detail.

Leasehold property normally will subject to restriction in interest namely “Property cannot be transferred, leased or charged without the State Authority Consent”. Hence, it requires consent to Transfer and Charge (if applicable) shall be obtained from State Authority. This process will take 1 month – 2 months in Klang Valley & in the States. This process will incur additional 1 – 3 months.

Yes. A foreigner can purchase the property subject to minimum price threshold set by the state authority which varies from one state to the other, as per table below:- Contact us for more information.

Selangor

• Zone 1 
  Districts of  Petaling, Gombak, Hulu Langat, Sepang and Klang
• Zone 2 
  Districts of Kuala Selangor & Kuala Langat
• Zone 3
  Districts of Hulu Selangor and Sabak Bernam

Note: Foreign buyers in Selangor are prohibited from buying landed residential properties (unless the said property is issued with a landed strata title), auction properties & agricultural land.

Some states are imposing levy. Currently Penang, Perak, Melaka and Johor are imposing levy ranging from 1- 3%.    

Yes. Deposit could be refunded because the transaction is subject to condition precedent. Please ensure your solicitors state this term clearly in the Sale and Purchase Agreement. 

A: As legal owner of the property, you need to pay Quit Rent (landed property), / Parcel Rent (strata title property) on yearly basis and Assessment to local council on half-yearly basis.    

If your property falls under Strata Title Status i.e. Flat, Apartment, Condominium or landed property with strata title, you need to pay for the above charges to the Management body.   

Vendor/Seller

Effective 1.1.2019, rates for all 3 groups are tabulated in the table below:-

Rate of retention of RPGT as stated below. The said sum to be retained from the Deposit by the Purchaser (normally Purchaser’s Solicitors) during the signing of sale and purchase agreement.

Yes. There are some exemptions allowed for RPGT [applicable to both citizen & permanent resident]. Among the exemptions are:

• the disposal of one private residence (residentialproperty) once-in-a-lifetime.
• the transfer of real property between family members as a GIFT (e.g. husband and wife; parents and children; grandparents and grandchildren). * Not applicable for transfer among siblings.  
• 10%of profits OR RM 10,000 per transaction (whichever is higher) is not taxable.
• Further to the above, under the Real Property Gains Tax (Exemption) Order 2020 which was gazetted on 28.7.2020, for the disposal of residential homes from 1.6.2020 till 31.12.2021, vendor/seller who is a Malaysian individual is entitled for exemption of RPGT for maximum three (3) units of residential home.

• Legal fees and stamp duty [acquisition] [both SPA & Loan]
• Legal fees and disbursement [Disposal]
• Valuation fees [acquisition & disposal]
• Agent sales commission [disposal]
• Renovation

A Real Property Company is companies where 75% of their tangible assets are in properties. Transfer of SHARE in Real Property Company is subject to RPGT.