ASKING SEAN

In this episode, we will address what happens when you cancel your purchase after signing the SPA.
Well, it depends at what stage you're cancelling the purchase because it affects the amount that you'll need to pay back or burn. The grey zone would be the initial 10% as you cancel. Does the developer take that into account, or is it really a discount?
After finding out the amount that's gonna be burnt, I suggest to balance that against the cost of getting the keys and preparing it for tenancy. Basically it's to balance which solution will make more sense.

[@fatty9101]

Monthly salary is RM20k, savings is also RM20k? Savings seems to be on a low side with such a high salary ... meaning personal monthly expenditure is very high?

[@mawdervaart]

20k per year lah

[@mawdervaart]

@@JustJamesDeansp 20k income, 240k a year, buy $700k house too expensive and regret? the fk?

[@LimChooChin]

Thanks for sharing. Facing the same situation here. Completions date is 2024. I read around some other option is getting another buyer to take over the unit. Is this going to work? Which I don't have to pay for the penalty? Hope to hear from you.

[@vineshrajoo2805]

thanks for another insightful video.In life, it is important to accountable and responsible for our actions. We might not make the rights decisions all the time .Therefore, if we want to be successful, we just need to ensure that we make more right decisions than wrong decisions in our life. Apart from that, if we are in a position that will definitely ensure that we lose money, we must minimize the lost to as little as possible.

[@ednatham]

Most of the bank will have bank penalty like 3% of outstanding loan as admin fee due to lock period. Then lawyer fees that process all the legal document will normally have to bear by purchaser if you void the Spa. Not worth it.

[@LeonXOV]

What if nothing has been signed? LO SPA nothing has been signed yet and I want to cancel the loan…will there still be any charges/panalties to the lawyer/bank/developer?

[@lromycl]

Yet another great insight 👍 Thanks for sharing

[@ArchitectLOOK]

Is there any cooling off period in Malaysia after signing the contract which allows buyers to cancel the sales without any reason and get back the deposit 100 percent?

[@tempuse20110725]

Hi. Your videos and reviews are insightful. Can you cover properties around KL with at least 1/4acre lot size family house. Thanks.

[@iherng]

Those will highly be only bungalows. 1/4 acre is around 9000sqft, which is pretty rare and private. Appreciate the suggestion though:)

[@tempuse20110725]

iherng What is the likelihood of finding these near KL. does not have to be city center but high rated schools proximity is must. What about other areas of Malaysia. Appreciate any links you can provide. thank you.

[@lifesjems]

@@iherng I know this is from 2 years ago but we actually just put our house up for sale. Slightly bigger then what @tempuse20110725 said but if it helps?

[@patoises]

I am more confused that "confused k". Young couple with high income buying an average priced property (presumably for an average size apartment in KL) to stay in when they get married. Seems very sensible. Not sure what is the issue here. Am I missing something that 's troubling young people I am not aware of?

[@iherng]

Hahaha. We were so used to people going over their affordability for their first property. This is different where they decided to go even smaller because of the efficiency of living. Hahaha. A totally different swing=) Thanks for sharing your thoughts patoises!!

[@TommyChooi]

thanks ! i just have this question

[@iherng]

Hope this helps then Tommy=)

[@vanessafong1332]

Good advice. 👍👍

[@zaidhakim]

First!

[@iherng]

Thanks Zaid!!