2008 August | Malaysia's Financial Blogger

Buying And Selling Property Procedures [ November 19th, 2008 ] Posted in » Finance Tips, Property | 40 views

After considering several places and you have decided to buy a house and the price is agreed by both parties, you will need to pay some earnest deposit (min 2%) for booking purpose. My advice, don’t pay the 10% straight, just in case you changed your mind later.

selling and buying property

After paying the earnest deposit, you will need to appoint your lawyer for the Sales & Purchase Agreement. It may take up to 2 weeks to prepare. Once the SPA is ready, you will need to make the balance 8% of the purchase price upon signing of SPA. (Assume your applied loan is 90%)

Besides, you must prepare some funds to pay the legal fees for S&P(Travelling, Stamping, Photocopying, Miscelllanous fees), which are relied on the purchase price of your property. Basically you should be able to estimate your lawyer fees based on the following:

snp legal fees

Note: This is payable to your lawyers to get the land title transferred to your name.

What To Do After Signing The Sales And Purchase Agreement?

Property Price Going To Drop?

I’m planning to buy a house this year, but people said that I must wait as there might be recession and property price might drop. Is that true? Cause I wonder since everything’s price are going up. How is property going to drop?

Property Price

All developers have increased their prices by 20 - 30% since their material cost (steel and cement) has increased. If they don’t increase their prices, they are building houses for free.

So if you’re buying 300k condo, most probably 200k goes to the location and the building material only cost 100k.
Even got increase also 100k X 30% instead of 300k X 30%. Somehow I may suspect that the developers are taking advantage of current situation to increase their profit as well.

August 29th, 2008 | Posted in » Economic Analysis, Property | 2 Comments | 291 views

Buying Car Without Financial Burden

A lot of people are willing to pay more for something that better meet their lifestyle and these people feel that driving a luxurious car is important, and they’re willing to carry the burden.

Actually I have planned to buy a new car without using my fixed employment salary. How to achieve that? Using my extra earning from Internet to make monthly payment for a new car. This is my challenge and perhaps next year will be the most suitable time to buy a new car.

Assumed that the car that I plan to buy is MYR40k. Down Payment that im willing to make will be MYR20,000-MYR25000. Lets take MYR20k, and get loan amount MYR20k for 7 years with interest rate 3.8%.

Buying Car Without Financial Burden

August 27th, 2008 | Posted in » Finance Tips | 5 Comments | 280 views

Why Support Malaysia Web Hosting?

I have been using Malaysia Web Hosting for about 8 months; so far it never disappointed me at all. If they plan for a server migration or any circumstances, they will first email to all their customers so that you will be aware of it. I believe it same goes to IPserverone. So far, my blog never down, their service is definitely awesome.

IPServerOne

August 23rd, 2008 | Posted in » Other | 2 Comments | 233 views

Think About Job Bonus Before Quit

A job bonus may be based on the employee’s performance. Measurements of performance such as hours worked, overtime, sales revenue produced.

Year End Bonus

Some company may reward employee as profit sharing for the productivity made and improved product quality. This is to encourage employees to understand how their work affects the company’s performance and profitability.

Every year when those bonuses are cashed, you may notice that the resignation letters start flowing in. There may have common reasons like what I have seen before:

1) Money: Most people jump to another company, as they believe that it will be the faster path to higher earnings.

2) Lack of Challenging: Sometimes people were not think about compensation but more on responsibility.

August 20th, 2008 | Posted in » Finance Tips, My Career Opportunity | 2 Comments | 435 views

Danger Of Drug Abuse

Drug is chronic and it may become one person’s bad habit. It is not likely that anyone with the intention of becoming drug addiction as it may cause painful suffering when stopped suddenly. Besides that, with continue abusing drug will lead to dramatic changes in both structure and the function of the brain.

How serious is drug abuse among young people nowadays? Social pressure is more frequently happen on young people. Most of the youngster use drugs may have several reasons such as curiosity, desire to be part of the gang and a sense of relaxation.

August 15th, 2008 | Posted in » Other | 1 Comment | 267 views

Prudential PRUcash Premier

PRUcash Premier is the latest endowment plan that combines Protection, Savings, and Liquidity. As far as I known, PRUcash premier provides you with an annual guaranteed payout of 4% from the end of the 10th policy year onwards. You can choose to withdraw or left to be accumulated. Meanwhile, you can get additional yearly bonus, which projected at 3% per annum.
PRUcash