real estate process in malaysia
Can foreigners buy property Malaysia?
The answer is definitely, yes! Foreigners are allowed to purchase properties in Malaysia. But, there are some specificities when it comes to foreigner owned property.
Step-by-step guide : How to buy a house in Malaysia
Step 1: Hire a real estate lawyer to assist in the transaction.
Step 2: Once property is selected, a Letter of Offer or Acceptance is signed, and a 3% deposit is expected from the buyer.
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Step 3: After 2 weeks, the Sale & Purchase Agreement (SPA) will be signed, and the remainder deposit price (7%) paid within the following 3 months.
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Step 4: This purchase agreement is then stamped at the Stamp Office, and the purchase price is verified. The buyer is then liable for stamp duty (up to 3% of the price).
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Step 5: The property’s change of ownership must be registered at the Land Office Registry.
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Step 6: Once you have your key, you’re free to enjoy your new home!
Find your home now!