Buyer's Guide

FREEHOLD

Freehold property belongs to the owner in perpetuity. Transfer of interest in the property can proceed without any restrictions or approvals from the state authority.

LEASEHOLD

Land leased by the government for a specific term, most commonly in the duration up to 99 years. Transfer of interest of property to another party may require state authority approval.

INDIVIDUAL

Issued for properties built on individual plots of land that is sub-divided horizontally.

STRATA

A form of ownership commonly applies to residential and commercial multi-storey buildings, as well as landed properties within a gated community. Strata title properties comprise individual lots owned by individual owners and common properties.

STEP 1: REGISTER YOUR INTEREST

You may register your interest with us via following channels

• Online registration at www.jwg.com.my / www.sempurnadamai.com.my
• Call us at +6018-355 8928
• Visit us at Sales Office

STEP 2: CHOOSE YOUR DESIRED PROPERTY

Upon registration, you will receive exclusive invitation to our sales office via call or via SMS or email for preview and unit selection

STEP 3: MAKE YOUR BOOKING

Upon selection of unit, you are required to deposit the initial down-payment with us to secure your booking.

STEP 4: DECIDE PAYMENT OPTION

Choose your desired payment option either via full payment in cash or loan financing.

STEP 5: EXECUTION OF SALES AND PURCHASE AGREEMENT

You are required to execute the Sale & Purchase Agreement (SPA) together with and balance payment within 14 days from the date of confirmation of booking at our sales office or at our appointed solicitor's office.

You may opt for loan application with our appointed panel bankers or choose any bank/finance institution of your choice. You are required to provide the following documents for the loan application.

DOCUMENTS REQUIRED FOR LOAN PROCESSING

Employed applicants

• Booking proforma of the property purchased
• Photocopy of identity card (for Malaysians) or passport (for non-Malaysians)
• Latest 3 months payslips
• Latest 3 months bank account statements indicating salary credited
• Latest tax assessment form
• Latest EPF statement
• Other documents as may be required by bank/finance institution

Self-employed applicants

• Booking proforma of the property purchased
• Photocopy of identity card (for Malaysians) or passport (for non-Malaysians)
• Company Registration Forms i.e Form 24 and Form 49 or other relevant forms
• Latest financial statements
• Latest 3 months bank statements
• Latest tax assessment form
• Other documents as may be required by bank/finance institution

Criteria for Loan Application & Approval

In order to qualify for loan financing, you are to fulfil the following criteria:

• Has stable income
• Age not exceeding 55 years old
• Monthly instalment of the property purchased including current commitments e.g car loan, personal loan and others should not exceed one-third of the monthly income

Sequence of Loan Processing

Buyer	Submission of loan application form with required documents.
Bank	Loan evaluation by bank/finance institution.
Buyer	Signing of LO as acceptance of the offer. One copy of the signed LO will be kept by the bank and another copy will be forwarded to the developer.
Bank	Bank/Finance institution to instruct appointed solicitor for loan documentation arrangement: Deed of Assignment and Loan Arrangement (for Strata Units); or Memorandum of Transfer Form 14A and Charge Form (Landed units with individual titles).
Bank	Issuance of notification letter on execution of loan documents at solicitor's office.
Buyer	Execution of loan documents at solicitor's office.
Solicitor	Executed loan documents returned to solicitor for stamping and registration. Stamped loan documents forwarded to bank/finance institution for safe keeping. A copy each is given to purchaser and developer.
Bank	Bank/finance institution to release payments to developer progressively in accordance to the Third Schedule of the Sale and Purchase Agreement upon receipt of developer's billing.

EPF withdrawal is permissible to only residential properties purchase and only for one residential property per member.

REQUIREMENT

• You must be a member of EPF

ENTITLEMENT

• You are entitled to withdraw not more than 30% of your overall EPF account or 100% of balance available in your EPF account II.

PROCEDURE

You are required to submit the following documents to EPF for withdrawal application:

• EPF withdrawal form
• Original copy of Sale and Purchase Agreement
• Photocopy of identity card
• A copy of the letter of loan approval from end-financier

MODE OF PAYMENT

The payment will be released directly to the member within one month from date of application submission. For more information, please refer to EPF website at www.kwsp.gov.my.

OTHER POSSIBLE COSTS TO OWN A PROPERTY IN MALAYSIA:

• Legal fees on Sale & Purchase Agreement (one-time payment)
• Disbursement fees on Sale & Purchase Agreement (one-time payment)
• Stamp duty on Sale & Purchase Agreement (one-time payment)
• Legal fees on loan documentation (one-time payment)
• Disbursement fees on Sale & Purchase Agreement (one-time payment)
• Stamp duty on loan documentation (one-time payment)
• Memorandum of Transfer (MOT) fees for transfer of title (one-time payment)
• Quit rent (yearly payment)
• Local council fee (Half yearly payment)

LEGAL FEES ON SALE & PURCHASE AGREEMENT/LOAN AGREEMENT

Source: Based on Solicitor Remuneration Order 2005

STAMP DUTY ON LOAN DOCUMENTATION

0.5% of loan value

MEMORANDUM OF TRANSFER (MOT)

With effect from 1st January 2019, the disposal of properties in Malaysia is subjected to following rate of RPGT:

*The holding period of 3,4, 5 and 6 years refer to the period between the date of the acquisition of the property and the date of disposal of such property.

*Individual of non-citizen includes all expatriates working in Malaysia & MM2H visa holders.

EXEMPTIONS:

(a) RPGT exemption on gains from the disposal of one residential property once in a lifetime to individuals;

(b) RPGT exemption of up to RM10, 000 or 10% of the net gains, (whichever is higher) from the disposal of real property by individuals;

(c) RPGT exemption on gains arising from the disposal of real property between family members (e.g. husband and wife, parents and children, and grandparents and grandchildren).