Guide to the Process of Selling a House in Malaysia

1. Investigate the market price before setting the selling price of the house

2. Ask a real estate agent (property agent) for help

3. Hiring a lawyer to handle the legal procedures related to the sale of the house

4. Decorate your house

5. Advertise your real estate

6. Preparing for the buyer to view the house

7. Negotiation and bargaining with buyers

If you have found a buyer who really wants to buy, then congratulations! Now, you can start negotiating the selling price of the house. The negotiation process generally depends on several factors, including your asking price, current real estate market conditions, and whether you are eager to sell your house. When you are negotiating with buyers, you can set a bargaining space in your mind. Assuming you plan to sell a house at RM600,000, you can set the selling price at RM630,000 so that you can have room for negotiation of RM30,000. Real estate agents can provide you with valuable advice in this regard and help you reach an agreement with the buyer.

8. Prepare Letter of Offer

9. Prepare and sign the Sale and Purchase Agreement (SPA)

10. Execution of transactions and transfer of property rights of the house

After all payment procedures and documents have been signed, your real estate can be deemed to have been successfully sold, and the ownership of the house has been transferred to the buyer. At this time, you may have to pay Real Property Gains Tax (RPGT)

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