Are you first-time homebuyer? Are you plan to buy a house but don't know what is the process and the costs involved? Not fret! In this article, we will guide you step by step to buy a house as well as what are the costs involved during house purchase.
Step 1: Look for the house that you can afford
Firstly, you will need to look for the house that according to your current financial status. For example; if your monthly income is RM 4,000, you should then look for the house priced at RM 350,000 to RM 400,000.
Step 2: Make The Booking
If you decide to buy that house, you will need to prepare some money pay a 2%~3% of the property purchase price for booking fee to developer/property agent and they will issue a booking receipt to you and you have to keep it in well condition.
Step 3: Apply Home Loan
The next step you will need to do is apply the home loan with bank. Don't expect the bank will so good to offer you the financing up to 90% of the property purchase price for sure. Sometimes, you need to think about the worse.
Step 4: Complete The Deal
Once your home loan application is approved by the bank, you will need to hire a lawyer to help you to execute the legal stuff and you will also need to prepare the extra money to pay for legal fees and stamp duty. Once everything is completed, the bank will disburse the loan amount to the seller and you will be informed to collect the house key.
To read more details about this topic, visit http://wmaproperty.com/blog/step-by-step-guide-for-first-time-homebuyer/
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