Foreigner Buyer's guide

TYPE OF PROPERTY ELIGIBLE TO BUY BY THE FOREIGNER BUYER

Foreigner must purchase property with the purchase price of
(i)	Residential Property	-	RM1,000,000 and above (not applicable to Single Storey Property)
(ii)	Commercial Property	-	RM1,000,000 and above (only applicable to Three Storey and higher property retail space / office space)
(iii)	Industrial	-	RM1,000,000 and above

Developer will seek consent from Johor State Authority and apply for PTG approval. The application fee to be borne by purchaser as follow:-
(i)	Levy Fee :		2% of Purchase Price or RM20,000 whichever is higher
(ii)	Processing fee :		RM1,000

STEP BY STEP TO OWING A HOME

Registration

Selection of Unit (Reservation Of Unit)

Prior to a launch, registered buyers will be invited to our sales office to choose your unit. The selection of units will be done on a first come first serve basis

Letter of Offer

Upon selection of the unit, a letter of offer and the receipt for the initial 10% down payment will be issued from developer.

Execution of Sales and Purchase Agreement

You must execute the Sale and Purchase Agreement (SPA) at our appointed solicitor's office upon settlement of the 10% down payment within 14 days.

Application for Loan

You are advised to apply for a housing loan instantly upon confirmation of sales. Assistance will be given in the application for a house loan from our panel of end-financiers.

Letter of Offer On Loan

The letter of offer will be issued by the end-financier upon approval of your loan. You are given 14 days to accept and acknowledged the letter of offer.

PAYMENT PROCEDURE

Down Payment

Upon execution of the Sale and Purchase Agreement the initial down payment must be paid as stated in our letter

Late Payment Charge

As stipulated in the Sale and Purchase Agreement and Housing Developer's (control and licensing) Act, a late payment charge at 10% p.a. calculated on a daily basis will be levied on any overdue payment.

Example:

Invoice dated : 21/9/2011 for RM 27,000.00
Due date 19/10/2011: i.e. 21 working days from the date of invoice
Payment received on : 30/10/2011
No of days delayed: 21/9/2011 to 30/10/2011 : 11days
Late Payment Charge : 11days/365 x 10% x RM 27,000.00 = RM 81.37

Avoldance of late Payment Charges (LPC)

In order to avoid the imposition of LPC, it is recommended that you adhere to the following:

•	Apply for your loan immediately. We will be pleased to assist you in any way we can.
•	Liaise with the EPF department to ensure prompt release of the withdrawal sum.
•	Settle the difference between the loan amount and purchase price immediately on loan approval or on receipt of invoice from us.
•	Monitor closely the loan processing with your end-financier to ensure that the loan documents are finalized within the grace period.
•	Liaise actively with your end-financier and solicitor on receipt of the invoice from us to ensure payment is made within the stipulated period of 21 working days.

Progress Billing

We will bill you periodically once the relevant construction stage as stipulated in the third schedule of the Sale and Purchase Agreement or the Government schedule is completed as certified by the Architect.

Payment Period

A period of 21 working days from the date of receipt of our invoice is given for payment of the invoice.

Mode of Payment

We advise that payment be made by crossed cheque, bank draft or money order. If possible, avoid payment by CASH).

HANDING OVER OF VACANT POSSESSION

Letter of Handing Over of Vacant Possession

•	Upon completion of your unit, a Letter of Handing Over of Vacant Possession will be mailed to you notifying you to take vacant possession.
•	You are given 14 days from the date of receipt of the letter to settle all outstanding bills (inclusive of other charges) before collecting the house keys from the Customer Care Department.
•	You will take possession of your unit after having paid all monies payable under the Third Schedule of the Sale & Purchase Agreement and all other monies due.

YOUR RIGHTS AS A PURCHASER

As a purchaser you are entitled to certain rights in accordance with the Sale and Purchase Agreement. The Ministry of Housing and Local Government's Enforcement Division is the authority sanctioned by the Government to ensure that your rights as a purchaser are protected. Highlights of the Sale and Purchase Agreement

•	Your unit must conformto the specifications itemised in the Sale and Purchase Agreement
•	Your unit must be completed within the stipulated timeframe. Example:
	-	Landed units: 24 months from the date of the Sale and Purchase Agreement
	-	Strata units: 36 months from the date of the Sale and PUrchase Agreement