don't subsale if you are not mentally prepared

im so gonna blog this, i said to my fiance. why ? because  i was not mentally prepared to go through the hassle for doing this subsale. ok blame me. i didnt do enough homework, not fully understand of the whole thing bla bla... but the fact that i need to go here and there, seremban kl really tiring me of.. but thats what people said, its not easy to get things done, but its worth for the future..

so here i am not going to tell long story of my whole story, but to share what are the things you need to do/have in hand... (ya lots of money is a must!)

1. tips that i got : for investment property try to get the longest tenure period.. so the first thing to do when i got the booking (you need to pay 3% of total amount for booking) for my house is searching for the right loan type and right bank. once you book a subsale property you can try to negotiate with your agent, but at least you are given 30 days from the booking date to get offer letter from any bank. first thing to do is doing research and personal banking advice. after comparing with all the offer that i got for the first negotiation, ok i go with public bank and chose islamic type. the fact that i choose this because of the lowest monthly payment amongst all. you can google for details. oh at the same time as well, you need to find a good lawyer.

2. you got your lawyer, you need to pay the balance 7%, so that she can pay back to the owner. at same time as well, you need to see the banker with the details of offer letter. normally you can get up to 90% of loan including MRTA and ?? ah i forgot it. however in my cases i still quite blur why i didnt get the full 90% but at least around 88%, thus i need to pay balance to the lawyer.talking about the lawyer, it would be better if you get only 1 lawyer to do your bank loan and s&p. at least you can get some discounted price. in my case, the bank loan's fee is the one that being accounted to the total loan. but, the s&p fee i need to pay by myself. and you need to know that the s&p fee is much more higher than the bank loan fee. so just get prepare amount more than 10k. (depends on which lawyer, how you negotiate thing etc).

3. it will take at least 3 months to get your loan processed. at mean time just chill out and relax. at same time as well, the CF for my property is yet to be released. so eventhough its already being sold to me, once the CF doesnt being rewarded yet, all the payment need to be paid by previous owner. oh its not that relax as well when you need to see the lawyer few times to sign s&p each page, to sign whatever paper i could not even recall.

4. once the CF is out, the loan can be processed, and payment to be made to the first owner. ok this all to be settled by your lawyer, but you need to keep in touch. and the next steps will take at least another 2 months to transfer amount to previous owner, her bank to release the house, to sign to get the keys and finally awarding all to me.

5. so at the mean time as well, i got another notice to pay the lawyer. looks like the bank didnt cover full of the bank loan fee to the lawyer. so another few hundreds to be paid off i guess.

6. now all the loan in hand, but as for as islamic type concern, they already released the payment to the bank of previous owner, but i have yet to get the keys. but, since the payment is made, i already need to pay my first monthly payment to public bank. another shock.

7. when the time came, i got my keys. its like the happiest day of my life. but to the fact i knew that i need to pay another hundreds to pay the maintenance deposit and some other amount after the selling date which i should pay upfront, sigh. now i know apartment only came with water supply + maintenance fee. but where does the electric supply?

8. its time to go to TNB and open up the account (actually change the name to yours) and pay another hundred deposit. haa at this time make sure u have copy of your s&p as TNB need it, bring the cash inclusive the administrative fee, setem hasil of 20rm (2 pieces of rm10) and copy of your ic. also dont forget to change name as well at DBKL for cukai pintu. ( its better to have back up of several copies for s&p and ic since all this changing account from previous owner needs that).

9. when you went to see your management office, make sure you have everything in hand especially the letter that the house is already yours since the management property only keep track of the first owner details, notice all the necessary like your parking lot, your mail box, get the car sticker for easy access, the telecon must be provided together with the keys from your lawyer.

thats what i have for doing subsale. it will be much more easier if you are the first owner of property since the developer will do their best to make your life easy. its not easy to have easy life, but at least i did go through it even though with lots of complaints.. ;) another step to go -- that is dbkl.