Buying my first home...

So I have been going back and forth with my husband for 3 years about WHERE we want to eventually settle down, and finally this year we decided on a subsale property in Denai Alam as it is located between his workplace and my workplace. The place is at a rather peaceful neighbourhood and although it is a more Malay dominated area, we have no issues traveling if we want to fine Chinese food or whatever. The property was a bare unit for RM740,000 which unfortunately doesn't qualify for the exemption of stamp duty for first home buyer of property under RM500k. So we knew we need to fork out quite a bit on the downpayment and renovation. 

So timeline wise, it is pretty long. We visited the property on 30 Dec and immediately decided that we wanted the house because the pricing was reasonable and we liked the location as well, paid the earnest deposit of RM23,532 on 1 Jan 2024.

A few days later, the agent said that the ownership of this property is joint ownership and one party has passed away, so asked if we still want to proceed as it will take perhaps 3 months longer than normal to get the property. Since we weren't in a rush, so we are okay to proceed. The way I was told, I thought that the owner had to go to court to get court order for sale first so I was chilling from January to March, not knowing that I actually needed to appoint a lawyer to draft the SPA then only this process will happen, my bad for not clarifying with the agent. She was sort of urging me to appoint a lawyer but I thought no rush because need to wait for the seller anyway but I was wrong. 

So anyway March 10 was when I engaged a lawyer to draft the SPA and also engaged a loan lawyer. After confirming the legal fee, my lawyer then got in touch with the owner's lawyer. It was at that time, that I realise that we needed to sign the SPA first then they will go and get the court order for sale. In April I engaged with a valuer to do the valuation report on the property, so paid RM1,600 for that report from GE Tan Valuers, they were pretty fast to complete my request. As for the SPA, after ding dong with the seller lawyer finally the SPA is finalised and I signed it on 17 May and paid the bill of RM73,783 for the rest of the deposit and legal fee. Then come the sets of loan documents [Facility Agreement, Charge Annexure, 16A], which I signed and paid RM11,430 for on 20 June. 

So all in all, we've already paid - RM110,345 so far. We still have yet to pay for the house insurance premium which will be round RM10k. 

[To be continued]