Standard Procedure of Purchasing or Renting A Property

Standard Procedure

Standard Procedure of Purchasing or Renting A Property

Purchasing a Property In Malaysia

Pay 4% of purchase price as earnest deposit (Sign letter or offer).

Pay 6% or purchase price 14 days later (Sign Sale & Purchase Agreement).

Pay 90% of purchase price 3+1 month later.

Professional Fee:

Schedule 7(C)(1) uner Rule 48 (a) of the VALUERS, APPRAISERS AND ESTATE AGENT RULES 1986, provide: The scale of Fees to be charged by registered agents for their professional services for the Sale & Purchase of Land and Buildings shall be:

a) Land and Buildings – Fee of 3%

b) Fees for other services such as joint venture, sale of company, property swaps, etc. – Fee of 3%

c) Chattels including Plant and Machinery – 10% of the proceeds

plus 6% Government Service Tax, payable by the Landlord.

Residential Renting a Property In Malaysia

Pay 1 month Rent as earnest deposit (Sign letter of offer)

Pay in 7 days

2 months rental as security deposit.

1/2 month as utility deposit.

Stamp Duty and disbursement (Sign Tenancy Agreement)

Commercial Renting a Property In Malaysia

Pay 1 month Rent as earnest deposit (Sign letter of offer)

Pay in 7 days

2 months rental as security deposit.

1 month as utility deposit.

Stamp Duty and disbursement (Sign Tenancy Agreement)

Professional Fee:

Professional fee is equivalent to 1 month’s rental plus 6% Government Service Tax, payable by the Landlord.