8 Things You Need To Know Before You Buy A Property In Malaysia

8 Things You Need To Know Before You Buy A Property In Malaysia

Buying and owing a property is always one of the ultimate goals for everyone and that is why we wrote this article so that you are aware of 8 things you need to know before you buy a property in Malaysia.

Property buyers like you are advised to do certain steps before you sign the Offer to Purchase with the owner or their agent because once the Offer to Purchase is signed, you are bound to buy the house based on all the terms stated in the Offer to Purchase.

The Offer to Purchase is binding on both the house owner and the purchaser.

These are 8 things every potential purchaser needs to do BEFORE signing the Offer to Purchase:-

1. You are required to inspect and check the condition of the House. It is because you are going to buy the House on as is where is basis, ie. means whatever the condition of the House on the spot shall be sold to you in the same condition. If the House has broken windows when you sign the Offer to Purchase, you agree to purchase it with the broken
2. Further, if you are not satisfied with the condition of the House/Property or you want the owner to fix/repair something in the House, request the owner on the spot and request to put it into the Offer of Purchase as the additional terms and it will later form part of the owner’s obligation under the Sale and Purchase
3. You are advised to request a copy of the Title Deed and/or the previous Sale and Purchase Agreement from the owner or their agent. It is essential to find out whether you are dealing with the actual
4. You are advised to conduct a land search on the House which will provide important information of the House, such as the category of land use, whether the House is leasehold or freehold, whether there is any caveat entered onto the House and so much (You can leave this to your property lawyers to conduct the search on your behalf)
5. It is very common to state in the Offer to Purchase that your offer to purchase is subject to loan approval by your Bank and some people may even further state the loan
6. You are advised to ask if the House has the certificate of completion and compliance (CCC) to verify that the house or property is safe and fit for occupation because the CCC is one of the required documents for certain banks, especially for commercial and industrial
7. You are advised to ask if the House is tenanted, and if the House is tenanted, then you need to decide if you want to buy the House with the
8. Lastly, get a property or conveyancing lawyer to protect your interest as a buyer to ensure that the property buying process is hassle-free.

At TYH & Co., our conveyancing and property lawyers are experienced and responsive lawyers to ensure that your rights are protected and our team will ensure that the whole property transaction can be completed smoothly.

Get Free Quotation & Consultation From Our Property Lawyers Now In Less Than 2 Working Hours via WhatsApp/SMS.