Standard Procedure of Purchasing / Renting a Property In Malaysia

Selling & Purchasing a Property In Malaysia

Pay 4% of purchase price as earnest deposit (Sign letter or offer).
Pay 6% or purchase price 14 days later (Sign Sale & Purchase Agreement).
Pay 90% of purchase price 3+1 month later.

Professional Fee:
Schedule 7(C)(1) uner Rule 48 (a) of the VALUERS, APPRAISERS AND ESTATE AGENT RULES 1986, provide: The scale of Fees to be charged by registered agents for their professional services for the Sale & Purchase of Land and Buildings shall be:
a) Land and Buildings – Fee of 3%
b) Fees for other services such as joint venture, sale of company, property swaps, etc. – Fee of 3%
c) Chattels including Plant and Machinery – 10% of the proceeds

plus 6% Government Service Tax, payable by the Landlord.

Renting a Property
Residential
-One (1) month rental (Advance Rental) as Earnest Deposit (sign letter of offer).
During handover keys/vacant possession & sign tenancy agreement by paying:
-Two (2) months rental Refundable Security Deposit
-Half (1/2) month rental Refundable Utility Deposit (Electricity, Water, Sewerage)
-Stamp Duty and disbursement

Commercial
-One (1) month rental (Advance Rental) as Earnest Deposit (sign letter of offer)
During handover keys/vacant possession & sign tenancy agreement by paying:
-Two to Three (2-3)months rental Refundable Security Deposit
-One (1) month rental Refundable Utility Deposit (Electricity, Water, Sewerage)
-Stamp Duty and disbursement

Professional Fee charged by registered agents equivalent to One (1) month’s rental plus 6% Government Service Tax, payable by the Landlord.