Secondly, you must determine what type of house it is. In Malaysia, the date of completion for terrace houses, semi-detached houses and bungalows, is 2 years from the date on which the sales agreement is signed. In the case of town houses, flats, condominiums, and flats, the date of completion is 3 years from the date on which the sales agreement is signed.
It is important to verify the land status of the house. A house can be on free hold land, on Malay reserve land, or on lease hold land. If it is on lease hold land, verify how many years are left on it.
The free brochures that are provided by developers should have all pertinent and required information. They should contain information about the license number and its date of expiry, the sales and advertisement permit and its date of expiry, land status, and all other relevant information. If any of this information is missing, ask the developer to rectify it. Else, remove the house from your short list.
According to Malaysian law, the initial payment must be done when the sales agreement is signed. The date of the first payment should be the same as the date of signing of the sales agreement. You should know that housing developers are not permitted to collect payment prior to the sales agreement being signed.
The house should undergo certification by a certified engineer or preferably by a qualified architect. A demand for payment by developers must be supported by such a duly signed certificate. On no account should any form of payment be made without it.
There are several fees that must be paid as part of buying a house in Malaysia. These include the infrastructural maintenance fee, the maintenance and management fee, the sinking fund, rate assessment fees, quit rent fee payments, among others. These are the responsibility of the buyer.
It is important to note that Malaysian law allows a defect liability period of eighteen months after the date of taking vacant possession. Any defect claims must be made within this period, or they will be considered to be null and void. You can contact the Malaysian government's enforcement and monitoring division for inquiries or redress.
For More Information: Property in Malaysia for Sale
Apartments for Rent
Johor Property Sale
Penang Property for Rent
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