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Foreigners are eligible
to buy 2 houses at a cost of not less than RM150,000
each. For this purpose, they are also entitled to
apply for a loan from a local bank for 60% of the
purchase price.
The standard procedure for purchasing a property is:
- Sign letter of offer and pay 3% of purchase
price as earnest deposit
- After 14 days, sign sale
and purchase agreement; pay 7% of purchase price
- Pay balance of purchase price within three months
Legal fees payable, stamp duty and agency fees
(if used) are also payable.
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