Frequently asked questions
|Q. How can I find out more about the owner?|
A. Check us out with the following organisations :
Sarawak Housing Developers Association.
Sarawak Chamber of Commerce and Industry.
Speak to existing owners of houses built by us.
|Q. What are the additional costs incurred in the purchase of a property besides its purchase price?|
|A. Legal fees and stamp duties on the sale & purchase agreement are wholly paid by owner.
Legal fees and stamp duties on the charge document for bank loans are paid by purchasers.
Legal fees and stamp duties on Memorandum of Transfers are borne equally by owner and purchasers.
|Q. What are progress claims submitted by the owner? How will I know what to pay for work carried out?|
|A. Progress payments are stage payments for the construction of the property. The various stages of construction work are itemised in a schedule in the sale & purchase agreement. Each stage is calculated as a percentage of the total value of the purchase price. Progress payments should then made for each stage of work completed.|
|Q. When are these claims due for payment?|
|A. The owner must make a claim to you for payment in writing with an architect’s certificate which states that work has reached a certain stage of construction. Your mortgage company or banker must pay the claim completed within the period stipulated in the sale and purchase agreement.|
|Q. What is a strata title?|
|A. A strata title is issued in respect of a unit in a subdivided building, to permit individual ownership of part of a building.|
|Q. Will the strata title be issued on completion of the building?|
|A. The owner will lodge the application for strata title after the certificate of fitness for occupation has been issued. The Land and Survey Department will then need to verify that the structure is built in accordance to architectural plans before strata titles are issued for each unit in the building.|
|Q. What is a certificate of fitness for occupation?|
|A. A certificate of fitness is issued by the metropolitan authority when it is satisfied that the construction of the building, the provision of services and infrastructure has been carried out for the project and that regulations, by-laws and conditions have been complied with.|
|Q. If I dispose of the property, will I be subjected to Real Property Gains Tax?|
|A. Any Malaysian citizen will be subjected to Real Property Gains Tax only if the property is sold within 6 years of acquisition. Any gain is subjected to deduction at graduated rates based on the period of ownership. A disposal of property by a foreign national will attract Real Property Gains Tax of 30% on the gain.|
|Q. I have heard that if a foreign national wishes to purchase a property in Malaysia, a levy of RM100,000 is payable.|
|A. This levy is not applicable in the state of Sarawak.|
|Q. How long is the defects liability period?|
|A. From August 1996, the Housing Developers (Control and Licensing) Act, 1996 provides that the defects liability period is 12 months from date of issue of the certificate of fitness.|
|Q. Who is responsible for the making good of defects and the maintenance of the building?|
|A. The owner will have to be informed of any defects that need to be rectified within the warranty period. Any maintenance is the responsibility of the owner thereafter. However, at De Summit, a fund of RM600,000 is set aside by us to provide for the future upkeep and maintenance of the building.|
* Whilst every care has been taken in compiling the above, the owner cannot be held responsible for any error or omission.