Thomas Sim PEA2066

Q.

What is Land Conversion or AVTC (Application for Variable Title Condition)?

A.

AVTC* is a term used in Sarawak. West Malaysia, it is called land conversion. The fee is called premium or additional premium […]

Q.

Can I buy property using my business name?

A.

The answer is YES and NO. Why?

If your business is a sendirian berhad or berhad company, then YES! If your business is a sole-proprietorship or partnership, […]

Q.

How to best benefit from Commercial Property Loan?

A.

Policy for loan on commercial properties is usually at maximum of 80% of the value of property.

However, there is no limit of how many commercial […]

Q.

How do you best benefit from housing loans?

A.

1st and 2nd loans  – up to 90% of the value of the property (residential).
3rd and beyond – up to 70% of the value of the property (residential).

If you […]

Q.

How much is the ancillary cost of buying a property (subsale)?

A.

We have paid for the house say RM500k. What are the other costs that you need to pay? Buying a house includes the below costs:

Stamp duty […]

Q.

What happen to offer when you negotiate? The original offer still stays?

A.

Take for example, when you saw an advertisement to let – RM1,200 per month rental. You call the landlord/agent, and offer to rent […]

Q.

Can you refuse to sell? Or Rent?

A.

We usually prefer to agree. This is a common Asian culture. We seldom reject. So in selling, when people give in to us, we will just agree.

In law, this is not so. When […]

Q.

Why do you need client’s account in agency practice?

A.

The reason for that is because the money is held temporarily before its transmission to the payable account of the intended party.

Take for example i […]

Q.

Client’s account. What is it?

A.

Many time, people take for granted the client’s money. It’s very crucial for an estate agent to hold your money in his “client’s account”. It is a temporary stop before th […]

Q.

How does GST (now repealed and will be replaced with SST) affect property transactions?

A.

Little known fact about GST in Estate Agency Practice. Some people try to save on commission when dealing with […]

Q.

Why is a Registered Estate Agent ever be needed in the first place?

A.

The word is “Trust”. You may not agree. Take for example, you buy a car from Jerry. Jerry takes the money from you and disappear. You […]

Q.

There are some interesting things in the amended NEW Valuers, Appraisers, Estate Agents and Property Managers Act, 1981 (amended 2017). What are they?

A.

5 key points are:

Better definition of EAP as […]

Q.

In a residential tenancy agreement, can I ask my agent to prepare the agreement instead of going to the lawyer?

A.

IF (and only IF) an agent were to help type out the agreement, he cannot charge the […]

Q.

Can an agent prepare tenancy agreement for his clients?

A.

The answer is a Strict NO! However, it is a common practice. Why?

It is generally accepted that contract is to be prepared only by a legally […]

Q.

What if Tenancy Agreement is never stamped or lost? Tenancy Agreement – Part 3.

A.

So… tenancy agreement lost and never stamped. In such case, the contract of renting is still in force as long as payment of […]

Q.

Is Stamping a mandatory process in a Tenancy Agreement? Tenancy Agreement – Part 2.

A.

So, stamping is not required? Yes, and No.

When dispute happens… let us assume that the landlord was outstation. Te […]

Q.

Lost your tenancy agreement? Tenancy Agreement – Part 1.

A.

A friend learned that I am studying Estate Agent Examination, so she asked me about tenancy agreement which is lost. It has been years (>3 years) […]

Q.

Better invest in property, unit trust, stock market or saving account?

A.

They are vehicles of investment. It depends on your risk appetite as well as the quantum of money involved.

Commonly, most people […]

Q.

Buying for future generation? What for?

A.

My UKM friend (Mike) has emphasized that he would not finance his children to expensive private university which is just not his style! Life is more than just […]

Q.

Why landed is better than strata? Perpetuity vs Lease, which is better?

A.

Simple answer is Scarcity vs in Abundance. Live forever or limited lifespan? Nothing comes without price tag.

Sure, scarcity is […]