Buying a property is exciting. However, it can be stressful too, for those first timers or even regular buyers. Here are some tips as a checklist before purchasing a property:
Work out a budget
Define your requirements
Choose what kind of property you want to buy i.e.: do you want a house, flat, bungalow or terrace?
New versus re-sale property
Location
Property specifications
Find the right real estate broker
WHAT CAN PROPERTY OFFER INVESTOR
With property, there are two main potential ways to make a return:
RENT: you can earn an income by renting out to tenants. SELLING: buy and sell later for a higher price
Even if you don’t buy the property yourself, you can get potential benefits indirectly by investing in a property fund that invests in property. Other related ways to invest is through property maintenance and management services
WHAT IS IN A SALES AND PURCHASE AGREEMENT?
The sales and purchase agreement sets out in writing all the agreed terms and conditions of the sales/purchase of the property. Terms and conditions in the agreement will include
the agreed price
goods/furnishings to be included in the sale such as electrical items like lights, ceiling fans, air con or cabinets etc.
The type of title- for instance freehold or leasehold
any conditions the buyer and seller want fulfilled before the contract is agreed
the date the agreement will become unconditional
the settlement date
any deposit the buyer must pay
What happens if the buyer or seller defaults?
The agreement also covers compensation costs that must be paid by either buyer or seller in the event if either party defaults.
The settlement date- the agreement will also specify the settlement date which is when the buyer pays the rest of the amount agreed for the property, usually through their lawyer. This is typically also the possession date when the buyer takes possession of the property.
Contact Us
UNITY REALTY SDN BHD
(1172554-P)
Address: Bukit Jalil City Signature. J12-2, Pusat Perdagangan Bandar Bukit Jalil, Persiaran Jalil 2, 57000 Kuala Lumpur.