Sorry for given wrong information, the RM29,100 should be changed to RM29,600. Sorry for giving you 'blur blur'. Yes, 'OC' what's i mean is certification of completion. RM29,600.00 is 20% of progressive payt (ie RM45,600.00 less discount of RM16,000.00) and RM300 is the s&p fee. I still not sign any loan agreement yet. Thank you.
phew.... ok here goes....
while andylim brought a few good points to ponder on. i will try to elaborate somemore.
if u want to sell,
property is not like stocks in a way of liqudating it. if ur idea of property investment is to make a quick deal by making a 16k profit then go ahead. to liqudate a property is not as fast as stocks. remember that. if u already have a buyer in hand and want to let it go, then go a head but u must see a few things.
firstly, since u did not have a loan agreement signed, then u r already have one less headache. if u have a buyer, then u don't need to pay agent fee/advertising fee means what u make is minus any fee. ensure that u get the new buyer to agree to the s&p price to be the same as the s&p price that u bought.
for example, u signed the s&p price with the developer to be 212k so ensure that u signed the s&p price with the new buyer to be 212k also. but this does not mean that u r sellin at 212k. sell it at the market price 228k but agree with the new buyer that u want the s&p price to be 212k. (many more technical explanation why and how and if the buyer agrees which i will answer if u ask
but i will not elaborate here )
anyhow reason is that, u bought this less than one year and u want to sell it. so government or (inland revenue board) will get from u 30% of the 16k. trust me... u can't get away with it. it will come after u 3 to 5 years down the road. unless u want to migrate to another country then u can ignore this. but if u r not, then trust me once again... they will come for the 30%. they have a copy of all the agreement blah blah blah documents.... u can't run away.... i myself was surprise to see all my property transaction documents in income tax MY FILE!
no kid u!
if u s&p price to the new buyer is the same as the s&p price with u and the developer than u should not worry about this issue.
well... now if u don't have a buyer in hand, then.... be prepared to pay 2% (rm4560) of the sales price or advertising fee if u r not sellin this through agent.
ok... if u ask me what u should do. keep ur property.... and don't go through all the issues of sellin a property. unless u really need the money. and unless u have nothing else better to do then to go through the procedure to sell a property. it's not hard... it's just long and small irritating issues sometimes pop up here and there... (base on my experience that is)
it's not as easy as stock where u can buy and sell as fast as u want. the fastest property transaction i know of is 3 months and that is because the transaction is in cash! if the buyer needs a loan.. then be prepared to wait for at least 5 months.
keep it! since u already hav ur cf... rent it out as soon as possible. don't worry about the rental income. an income is better than no income. but of course choose ur tenant carefully. no tenant is better than bad tenants (who just don't take care of ur place)
if u take a loan, ur rental can help u easy the interest burden while u 'force save' ur money by payin back the principle. and also don't forget.... landed property have better capital appreciation. the weather the storm durin the new bridge construction (tat is if it's happenin... just keep an ear out for it)
ok... i believe i have replied while not complete but it should be enough to start u thinkin if u want to sell or to keep.
if u need any other opinion... feel free to ask...
