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Note: Content is for your information only and is an excerpt from Malaysia Building Society Berhad (MBSB), www.mbsb.com.my

Procedure for Purchase of Property

If you are interested in the property, make an offer to the seller. You will need to instruct a solicitor to handle the legal details. Once your solicitor has completed the necessary legal documents pertaining to the purchase of the property, you will then sign the contract which is called the Sales and Purchase Agreement (SPA). SPA is a signed contract between the buyer and the seller. You pay the deposit at this point through your solicitor, and you and the seller become legally bound.

Can I Get A Loan?
The answer to this is likely to be yes as long as you are 18 or over, have a regular income and are able to show that you can meet the monthly payments.

What will it cost me?
When you are deciding on how much you want to borrow, you must remember that you will have to pay for the expenses such as:

  • Solicitors fees
  • Insurance cost
  • Government stamp duty
  • Minor Renovations or Improvements
  • Furniture and fittings
  • Miscellaneous expenses

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