{"id":3759,"date":"2015-04-16T23:15:01","date_gmt":"2015-04-16T15:15:01","guid":{"rendered":"https:\/\/www.propertyempire.com.my\/blog\/?p=3759"},"modified":"2015-04-19T23:18:52","modified_gmt":"2015-04-19T15:18:52","slug":"getting-the-paperwork-right","status":"publish","type":"post","link":"https:\/\/www.propertyempire.com.my\/blog\/getting-the-paperwork-right\/","title":{"rendered":"Getting the paperwork right"},"content":{"rendered":"

Process<\/span><\/p>\n

Letter of offer<\/strong>: the seller will sign the letter of offer signed by you and accept your deposit of 2% of the property price which is kept by the estate agent as stakeholder until the Sale and Purchase Agreement (S&P) is signed.<\/p>\n

S&P<\/strong>: S&P will provide details of the transfer and any warranties; the seller will now be given a deposit of 10% of the purchase price less the amount of deposit given at the letter of offer stage<\/p>\n

State authority consent<\/strong>: Only for transfers of leasehold land or for foreign buyers, it can take from 6 weeks to 3 months<\/p>\n

Completion<\/strong>: Completion will usually take place within 3 months of the S&P.<\/p>\n

The paperwork for letter of offer, S&P should only be done by yourself if you are sure of the procedures. If not, it would be best to hand it to a lawyer as there are loopholes which you yourself would normally not find, leaving yourself at a disadvantage.<\/p>\n

Ensure that you have the following financial documents for your loan application<\/span><\/p>\n

a)\u00a0\u00a0\u00a0\u00a0\u00a0 Loan application form<\/p>\n

b)\u00a0\u00a0\u00a0\u00a0\u00a0 Photocopy of I\/C of all applicants (Front & Reverse)<\/p>\n

c)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Latest J form \/ Borang B or BE (last 2 years)<\/p>\n

d)\u00a0\u00a0\u00a0\u00a0\u00a0 Pay slips for the last 3 months<\/p>\n

e)\u00a0\u00a0\u00a0\u00a0\u00a0 Copy of S & P Agreement\/deposit or booking receipt\/letter of offer from the housing developer<\/p>\n

f)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 A photocopy of the land title (if any)<\/p>\n

g)\u00a0\u00a0\u00a0\u00a0\u00a0 Bank account statements for the last 6 months<\/p>\n

h)\u00a0\u00a0\u00a0\u00a0\u00a0 Valuation report for completed house<\/p>\n

i)\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Latest statement of your existing home loan<\/p>\n

Additional documents if required<\/span><\/p>\n

1.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Latest EPF Statements<\/p>\n

2.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Confirmation Letter on current salary from employer<\/p>\n

3.\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 If you are self employed, you need to provide your business registration documents, latest business financial statements, 3 months business’ bank statements, and other supporting documents to support your income.<\/p>\n","protected":false},"excerpt":{"rendered":"

Process Letter of offer: the seller will sign the letter of offer signed by you and accept your deposit of 2% of the property price which is kept by the estate agent as stakeholder until the Sale and Purchase Agreement (S&P) is signed. S&P: S&P will provide details of the transfer and any warranties; the …<\/p>\n

Getting the paperwork right<\/span> Read More »<\/a><\/p>\n","protected":false},"author":17,"featured_media":3760,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_uag_custom_page_level_css":"","site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"","footnotes":""},"categories":[13],"tags":[],"uagb_featured_image_src":{"full":["https:\/\/www.propertyempire.com.my\/blog\/wp-content\/uploads\/2015\/04\/profile-770x330.jpg",770,330,false],"thumbnail":["https:\/\/www.propertyempire.com.my\/blog\/wp-content\/uploads\/2015\/04\/profile-770x330-80x80.jpg",80,80,true],"medium":["https:\/\/www.propertyempire.com.my\/blog\/wp-content\/uploads\/2015\/04\/profile-770x330-300x129.jpg",300,129,true],"medium_large":["https:\/\/www.propertyempire.com.my\/blog\/wp-content\/uploads\/2015\/04\/profile-770x330.jpg",768,329,false],"large":["https:\/\/www.propertyempire.com.my\/blog\/wp-content\/uploads\/2015\/04\/profile-770x330.jpg",770,330,false],"1536x1536":["https:\/\/www.propertyempire.com.my\/blog\/wp-content\/uploads\/2015\/04\/profile-770x330.jpg",770,330,false],"2048x2048":["https:\/\/www.propertyempire.com.my\/blog\/wp-content\/uploads\/2015\/04\/profile-770x330.jpg",770,330,false]},"uagb_author_info":{"display_name":"Admin Property Empire","author_link":"https:\/\/www.propertyempire.com.my\/blog\/author\/admin-2\/"},"uagb_comment_info":0,"uagb_excerpt":"Process Letter of offer: the seller will sign the letter of offer signed by you and accept your deposit of 2% of the property price which is kept by the estate agent as stakeholder until the Sale and Purchase Agreement (S&P) is signed. S&P: S&P will provide details of the transfer and any warranties; the…","_links":{"self":[{"href":"https:\/\/www.propertyempire.com.my\/blog\/wp-json\/wp\/v2\/posts\/3759"}],"collection":[{"href":"https:\/\/www.propertyempire.com.my\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.propertyempire.com.my\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.propertyempire.com.my\/blog\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.propertyempire.com.my\/blog\/wp-json\/wp\/v2\/comments?post=3759"}],"version-history":[{"count":1,"href":"https:\/\/www.propertyempire.com.my\/blog\/wp-json\/wp\/v2\/posts\/3759\/revisions"}],"predecessor-version":[{"id":3761,"href":"https:\/\/www.propertyempire.com.my\/blog\/wp-json\/wp\/v2\/posts\/3759\/revisions\/3761"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.propertyempire.com.my\/blog\/wp-json\/wp\/v2\/media\/3760"}],"wp:attachment":[{"href":"https:\/\/www.propertyempire.com.my\/blog\/wp-json\/wp\/v2\/media?parent=3759"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.propertyempire.com.my\/blog\/wp-json\/wp\/v2\/categories?post=3759"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.propertyempire.com.my\/blog\/wp-json\/wp\/v2\/tags?post=3759"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}