Malaysia
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PURCHASE FLOW
Property Selection
Find the right property and pay a reservation fee to the vendor to secure your preferred property. This transaction ensures your chosen property is temporarily withdrawn from the market, preventing others from purchasing it during the reservation period.
Contract Signing
Sign the contract of sale and make a 10% deposit to the solicitor's trust account.
Payment Schedule
Following receipt of the Vendor's written notice, payment milestones are as follows:
10%: Completion of work below ground level
10%: Completion of walls with door and window frames in place
5%: Completion of drains serving the building
5%: Completion of roads serving the building
5%: Completion of sewerage works serving the building
10%: Completion of electrical wiring and internal tele phone trunking and cabling
15%: Completion of reinforced concrete framework and floor slab
10%: Completion of internal and external plastering
Completion Date
On the day you take vacant possession with water and electricity supply ready for connection, you will pay 12.5% of the purchase price. An additional 5% will be held by the Vendor's solicitor as a stakeholder for payment to the vendor at the end of 6 months and 18 months after you take vacant possession of the property.
Balance Payment
Within 21 working days of the Authority's approval of the subdivision application, you will pay the remaining 2.5% of the purchase price.