Choosing a subsale property usually has a pre-existing owner who bought it from a developer during a property launch. This beginner’s guide is for you to read before finding the perfect home!<\/p>\n

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1. Find out your borrowing capacity with your bank<\/h3>\n
After finalizing the budget and finding out what is affordable, a decision can be made on the most suitable deal for the preferred sub-sale property.<\/p>\n
Do check your borrowing capacity with whichever bank fits your preference, be it Maybank or CIMB.<\/p>\n
For those who are confused with the term borrowing capacity, it is the sum of money someone is able to borrow from a lender (e.g.,<\/em> a bank). <\/span><\/p>\n
Also consider expenses like the stamp duty, legal fees, and renovation cost if the chosen property requires work.<\/p>\n
REMINDER;<\/strong> avoid the temptation of signing a reservation form before applying for a loan, which may result in forfeiture of your deposit.<\/p>\n
-Read More What is Debt-To-Service Ratio (DSR) and how does it affect your home loan?<\/a><\/span><\/p>\n
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2. Discuss and finalize the Sales & Purchase Agreement <\/span><\/h3>\n
A crucial legal document that states the terms and conditions of the sale – where both parties must check and are happy with the details listed out on the SPA. <\/p>\n
Before finalizing the SPA, discuss with the property seller on details such as;<\/p>\n
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items and fixtures you would like to be left in the home<\/li>\n
items and fixtures you would like to be removed in the home<\/li>\n
renovations<\/li>\n
additions<\/li>\n
upgrades that were performed previously<\/li>\n<\/ul>\n
Since subsale properties do not come with a defect liability period (DLP)<\/a><\/strong><\/span>, if you do not specify any damages in the contract – you will be responsible for any consequences.<\/strong><\/p>\n
Once you have negotiated and updated the deal, remember to include all the Sale and Purchase Agreement details.<\/strong><\/p>\n
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Read More<\/strong><\/p>\n
Sub-sale Property: 7 steps to buy a second-hand house in Malaysia<\/a><\/strong><\/span><\/p>\n
Why is property valuation a “must-know” for you?<\/a><\/strong><\/span><\/p>\n
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3. Determine either Bank Value or Market Value will benefit you<\/h3>\n
While performing a valuation of your subsale property, keep in mind that there may be two different types of valuations – the bank value<\/a> <\/span><\/strong>and the market value<\/a>. <\/span><\/strong><\/p>\n
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Bank valuation of a property is purely dependent on numbers. For example, a bank’s valuation for a house tends to be lower than the market value, due to its tendency to be objective and conservative. <\/li>\n
The market valuation of a property is what the market is willing to pay for your house.<\/li>\n<\/ul>\n
In simpler terms, the bank value of a property is solely dependent on numbers while the market value of a property is driven by how people feel. <\/p>\n
By determining which will value the most as a buyer, you will get the best deal out of the process.<\/p>\n
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4. Hire a lawyer to help you along the process<\/h3>\n
While it is now necessary, the buyer should hire a lawyer for a property transaction. By hiring a lawyer, they will ensure you get a fair deal, double-check the contract’s detail and protect your rights. <\/p>\n
Unless you are an expert in tackling bureaucracy at the Land Office, or negotiating legal contracts, you will find yourself stranded in a field of arguments and legality for months. <\/p>\n
Do not waste thousands of Ringgit to be flushed down the drain by thinking 2 to 3 steps ahead before purchasing your subsale property. <\/p>\n
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5. Lastly, remember to follow up!<\/h3>\n
We live in the age of technology, where everything can be accessed with just a click of a button. After everything is signed and ready, have their mobile number, email address, and social media pages to know your subsale transactions’ updates. <\/p>\n
For example, IQI Global is always thinking ahead to ensure customers’ satisfaction through our technology advancement. <\/p>\n
Introducing “Manage My Deal<\/a>” <\/span><\/strong>– a platform created in allowing the buyers to view the deal, check if IQI transacts their deals, and rate the agent who has helped them in the process.<\/p>\n
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From a buyers’ perspective, they might worry about the deposit status throughout the subsale process. Thus through “Manage My Deal”, <\/strong>a platform to ensure transparency and convenience, all in a click of a button. <\/p>\n
By visiting the “Manage My Deal”<\/strong> link through the IQI webpage, you only need to key in your Identification Number and Booking Number provided by the assigned agent. <\/p>\n
Manage My Deal<\/strong> become a reality from a drive to create solutions to help IQI real estates agents such as Atlas<\/a><\/span><\/strong>, a webpage and app – a platform to manage their sales, bookings, commissions, and training. <\/p>\n
With their ability to be efficient in support of their agent’s growth has been crucial in the company’s growing success and transformation. <\/p>\n
Click here to find out more on Manage My Deal by IQI.<\/strong> <\/a><\/span><\/p>\n
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Time to call a house a home?<\/span><\/p>\n
Now that you have a good understanding of what you’re getting into when you purchase a subsale remember the choice is always yours.<\/p>\n
So whether you’re buying a subsale property to stay in or invest, the earlier you plan – the more options and opportunities to choose from.<\/p>\n
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Interested in buying the home you’ve always dreamt of? Or you’re seeking professional help when it comes to buying a sub-sale property?<\/strong> <\/span><\/p>\n
Through IQI’s esteemed team, they will be able to help you with any matters related to property. <\/strong><\/span><\/p>\n
Leave your details below, and they will contact you soon.<\/strong><\/span><\/p>\n\n\t\t\t\t\t\t

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