Category: Property (26)

It is vital to take note of certain criteria before purchasing a property. Buying a property takes up an extensive time, planning, money, patience and sometimes lady luck is involved as well. Therefore, it should be decided wisely before making a decision.

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Financial plan

Money matters are top of your priority list. Maintain a budget in mind for ideal properties that makes your heart skip a beat. It is crucial to take time to slowly list the amount of cash available for expenses like loan insurance, legal fees, monthly instalments and other related costs. Secondly, whip up a list of all your assets (income, savings, fix deposits, investments) and then give the two figures a comparation and roughly gauge how much you can spend on the new home.

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Ken Rimba is a recent mixed development which is situated within the established vicinity of Shah alam. Similar developments within close proximity includes Acacia Subang, Setia Alam and Kota Kemuning. It is developed by Ken Rimba Sdn Bhd which is known for their award winning green developments.

The development comprises of freehold shop-offices, condominiums and double-storey terrace link houses. Once completed, Ken Rimba will consist of 2 phases of terrace link house known as Legian (328 units) and Jimbaran (168 units); 2 phases of condominiums with a total of 240 units in phase 1 and 679 units in phase 2. On the other hand there will be a total of 109 units shop-offices.

Houses within Ken Rimba typically comes between built-up sizes of 1,840 sf to 2,215 sf which has a total of 4 bedrooms and 3 bathrooms. There will be a total of 26 corner units that comes with their very own private pool. Shop-offices on the other hand have varying designs and layout – intermediate-lots have 1,800 sf built-up, followed by end-lots which have 2,100 sf and corner-lots with a total of 2,800 sf.

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Buying a new house is probably the single largest purchase you’ll make in your lifetime – so it’s important that you get it right. This means doing your homework and becoming an informed buyer. Find out the things that you need to consider before buying your dream home.

Before you sign on the dotted line, the Ministry of Housing and Local Government has listed some important things you need to be aware of to protect yourself.

  1. Before you decide to buy a house, ensure that:-
    * The housing developer has a licence and it is still valid.
    * The housing developer has an advertisement and sales permit and it is still valid.
  2. Determine the house type
    For landed property such as bungalows, semi-detached houses and terrace houses, the expected date of completion is 24 months from the date of signing of the Sales and Purchase Agreement.For subdivided building such as condominiums, flats, apartments and townhouses, the expected date of completion is 36 months.Buyers are advised to obtain from the housing developer the complimentary brochures with all the pertinent information about the project such the development’s licence number, and advertisement and sales permit.

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Rule of 72 is the formular that help you to determine how many years your money will become double by the given annual interest rate. It can also use to calculate how much the interest your money should earn in order to double up your money in the given years.

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Step Action
1 As the buyer, you have to find the property. After you have made your decision, you are required to fill in an application form prepared by the broker and pay the booking fee (min 2% or more). A receipt will be given to you after you pay the booking fee. If you, as the buyer go back on your word, the seller has the right to confiscate the booking fee. Otherwise, the seller has to double pay the booking fee to you if he or she goes back on his or her word.
2 You have two choices:1: You provide the financial documents to the broker. They will assess your credit, income and assets to quickly determine what loans you qualify for.2: You provide any relevant details and financial documents to the broker.The buyer has to prepare his or her identity card and deposit. The broker will hand over seller’s detail, buyer’s detail and title to the lawyer for preparing the Sell & Purchase Agreement. The deposit will be handed to the seller only after both parties (seller and buyer) have signed the Sell & Purchase Agreement.
3 All the relevant financial documents will attach to the application form and submit to the bank for approval.
4 After 7 days, as the bank reply the approval, loan will be processed and an offer letter will be prepared. The buyer needs to sign the offer letter.
5 Before signing the Sell & Purchase Agreement, both parties can decide the date of settling the rest of the deposit. Normally, the buyer is given three months for settling the rest of the deposit. The buyer can request the seller to extend for one month. However, within this one month, the buyer has to pay the interest that is calculated per day. The amount of the deposit depends on the amount of the loan. For example, if you loan 70%, you are required to settle 30% deposit within three months.
6 The buyer will hand over the deposit to the lawyer for settling the ransom from the bank or financial company and property tax in order to redeem the property. Then the process of transfer can be carried on.
7 As the property is being redeem and the seller has settled the property tax, the lawyer will submit the transfer form to the Land Service for registration. If the transfer form is approved, the lawyer will hand over the rest of the deposit to the seller. At the same time, the seller has to pass the right of the property to the buyer as final realize.

Bayu Tasik 1 (also known as Bayu Tasik Condominium) is situated in Bandar Sri Permaisuri, an integrated 220 acres of self-contained residential, commercial and recreational township that provides lots of township amenities and various facilities surrounding the area and easily within reach.

Most of the neighborhood of Bayu Tasik 1 consist of double storey terrace houses and single storey terrace houses. Plus it is also an area developed with unique living concepts that emphasises a strong and symbiotic harmony between man, the environment and technology.

Bayu Tasik 1 is located in the South of Kuala Lumpur and right at the centre point of the Multimedia Super Corridor (MSC), this prestigious township also offers enhanced living lifestyle with expected estimated population of up to 60,000 people, advanced cybernetic infrastructure, and as for the local council, the area falls under the administration of the Dewan Bandaraya Kuala Lumpur (DBKL).

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