Property Malaysia

Right. The Property Malaysia administrator and all the frazzled contributors are taking a short deserved break in Honolulu some obscure Malaysian resort. So for today, we’re doing something different, we’re answering commonly asked questions about owning and buying property. We’ve been asked these question dozens of times, so we’re answering them for the benefit of those who are dying to know.

And while we’re rolling in the sunny seas of the fabulous Malaysian coastline, you can actually send us your questions, if you have any. Just leave a comment, or send us a mail.

(Disclaimer – due to the harmful effects of the sun and salty seawater, we cannot vouch that everything we answer here is 100% the gospel truth…)

I’ve bought a condo property about a year ago, but when I passed by the project site the other day, I can’t see any up above the hoarding! I can see a lot of construction vehicles and workers going in and out, but how come there no structure up?!
I dunno, maybe the contractor found some gold or diamonds in the ground and are secretly busy mining it first? No, actually if it’s condo, they’re probably been working on the foundation and basement (if there is basement). This is of course, assuming the developer has actually obtained all approvals and there isn’t a stop work order in place. Normally, a highrise building’s foundation takes up to a year to complete, and the actual building about one a half years. That’s why the handover is always taken to be 36 months, as opposed to 24 months for landed units. We’re not ruling out the discovery of gold, though.

I want to enter the project site to check that the developer is building my RM1,356,898.49 (after discount) super deluxe house properly, but the security guard wont let me in!!! Why are they being secretive and difficult? I have a right as a buyer to see it, right?
My goodness, you paid RM1,356,898.49, and they call it a ‘super deluxe house’? Anything above RM1.2million should at least be called a ‘villa’ or ‘tropical paradise’ (depending on the location…). And they’re not wrong either, the law says you can’t simply enter a construction site without proper certification from the likes of NIOSH and CIDB. But if you’re really dying to see your beautiful RM1,356,898.49 home, you can actually get your developer to arrange a special visit (frankly, this only works for homes more than a certain value. Any cheaper homes the developer will politely tell you to go fly kites…). Besides, the developer can’t be spending all their time entertaining 259 buyers who want to see their uncompleted homes every other week…

The S&P document my developer gave me is kind of thick. Should I read it? I can’t usually finish a page of a novel without falling asleep (except for Harry Potter)…
No, don’t read the S&P, trust your developer 101%. Just don’t come whining later saying your developer cheated you on this and that. Seriously, check everything before signing. Even if you have to drink espresso to keep awake while doing it. If your England not powderful, get someone who knows about this stuff to do it, like your lawyer or Chinaman contractor friend. It’ll save you a lot of heartache later. Remember, don’t sign until you’re 100% satisfied about what you’re getting.

Okay, now you ask the questions. And we’ll answer them the next time we go on holiday. Which will be sometime soon… I think…