Frequently asked questions

We have compiled a list of commonly asked questions that we hope it is able to help you understand better. However, if you are not sure or having further questions please feel free to contact us. We are happy to answer them.

Why we need your service?

If you are looking for a quick, hassle free and guaranteed sales of your house. Our service may be right for you. There are many reasons house owners need to sell off their properties quickly. i.e.:

i.     Failed to sell through property agent;

ii.    Job loss, clear debts or all sort of financial difficulties;

iii.   To avoid foreclosure or repossession by the bank;

iv.    Fallout of a divorce or breaking relationship;

v.     Emigrate or relocation;

vi.    To escape from the burden of paying mortgage and managing the property;

vii.   Broken property chain;

viii.  Age or health related reasons;

ix.    Dispose of an inherited property or probate.

For whatever reason it might be, housebuyers.com.my with our quick house sale offer an alternative way to sell a house.

However, we also understand that quick house sale is not for everyone, so we also offer other creative solutions to assist house owners meeting their objective.

How much do you pay for houses?

Our offer is different depending on property as each property is unique.  However, we are open about the fact that our offer will be below than what you might get in the open market – usually around 80% of the true market value.  In return, we complete the sale quickly & hassle-free.  We buy with cash purchase and take care of all the legal works.

However, if that does not work for you, we also offer other sale options that might help you to achieve closer to the market value. Please speak to us to find out the best option for you.

To find out how much we can offer for your property, please fill up the form or give us a call and talk to us.

How long does it take for you to make an offer?

We promise to give you the initial indicative cash offer in principal within 3 working days when we have the required detail of your property. If you are keen to proceed, we will then do some analysis and assess your property before putting in our final offer price.

Whether the offer works or not for you, not to worry as there is absolutely no obligation and no fee attached to it.

What are the Charges?

In typical quick sale, we do not charge you for our service. We make things easier with an ‘all inclusive’ offer price. When you accept our offer, we take care of all the legal stuff and you will always receive an open and transparent service. There are no hidden costs in the deal.

If you opt for our other services or solutions, we will inform you upfront on the possible costs and charges where applicable.

How "quickly" can you complete the house sale?

It depends on the sale instruments that we adopted as well as the tenure of the title and the encumbrances associated to the property. In example, for a freehold property that is free from any encumbrances and not charged to the bank, we can complete it in 2 weeks or less. For leasehold or properties that required consent from state authority or any other parties, it could take up to 3 months or more to complete. You might say this is not “quick” at all but as matter of fact, this is the timeline required for legal conveyance process in Malaysia. Bear in mind that our quick sale is still a much faster approach compared to traditional way via real estate agency (You will not know for certain when you can get your property sold!)

How does housebuyers.com.my work out the value of my property?

Initial principal offer price or valuations are obtained from a local registered valuer, as well as from research of the local property market and prices, which forms the valuation price.

However, our formal offer is still subject to searches, survey and inspections related to the property if you choose to proceed.

Do you buy properties in any part of Malaysia?

For the time being, we only buy properties around Klang Valley of Malaysia. Nevertheless, please drop us your enquiry or feel free to talk to us, we are happy to share with you our experiences or refer you to the right parties.

What type of properties do you buy?

We only buy freehold or leasehold residential properties, including bungalows, semi-detached, terrace or link houses, town house, flats, apartments, condominiums and lands in residential zone.

We do not buy commercial or industrial properties but we may refer you to our partners who do that.

Due to our status, we are also not entitled to purchase “Malay Reserved” or “Bumiputra Reserved” properties and lands.

I received your offer but I am not ready to sell yet

That is absolutely OK. We understand that it is a big decision to make and it takes time to consider our offer.

If you think the offer does not work for you, please talk to our friendly consultant, we can offer a range of tailored purchase options that suite you.

I have overdue mortgage payment; will you still buy my house?

Yes, we can help, please speak to us immediately. Do note that the bank has the right to foreclose your property if you fail to pay your mortgage loan for 3-4 consecutive months.

Our team of experienced consultants is able to help you stop the foreclosure or repossession proceedings. We can negotiate with the bank on your behalf and arrange to purchase your property fast to stop any impending action (provided there is sufficient equity in the subject property to begin with).

What if my property is currently listed with estate agents?

We are sorry you will have to cancel any existing appointments to sell your property or any sale agreements that you have with any other parties before accepting our offer or engage our service. We need to have the exclusive rights on your property once you accepted our offer.

Do you buy any properties?

In short, no we do not. Please see “What type of properties do you buy?”

We also do not deal with the following properties (until it is cleared):

a. Having any sale agreements or assignments associated with it.

b. Having existing charges or caveats (except that it is charged to a legal financial institution for mortgage purpose)

c. Having any associated law suits or disputes

We are also very particular with the people we deal with. We want to only deal with persons who is honest like us! We will only deal with

a. Direct owners of the property/ authorised representatives

b. Owners who is not bankrupt or being pursue into bankruptcy

c. Able to produce the relevant legal documents and proof

Can you help me stop bank foreclosure proceeding / repossession?

Yes. Our team of experts has the experience to stop a foreclosure by the bank (as long as your property is not sold in the auction yet). The faster you act the better chances we have to rescue your property from being auction off.

Note that defaulters will also be blacklisted in CCRIS (Central Credit Reference Information System) and CTOS (Credit Tip Off Service). That means you could jeopardize your financial reputation and you might have trouble getting financial loan with any banks in Malaysia.

My house has very little or negative equity. Can you still help to sell it?

The situation is not that bad if you are still living in a house with negative equity but once you want to sell the house it becomes very difficult to sell your property for cash. This is because you owe more than what your house is worth. But if you are not able to afford your mortgage, we can support you with our lease option and help you sell your house fast.

I am in financial difficulty and not able to pay the same mortgage amount but I still have a job. Selling off my house is my last option. What should I do?

First of all you should cut down on the unnecessary expenses and monitor your expenditure carefully while seeking ways out for additional income. You are also advised to seek help from a financial advisor or debt management consultant to restructure your loans and debts. For example you may go to The Credit Counseling and Debt Management Agency (http://www.akpk.org.my) for advice. The objective is to negotiate with the mortgage lender to reduce the installment amount or possibly a longer period to pay the arrears in full.

Make known to your family members of your current situation. They are the most willing to help without any condition. Also accept the fact that there are always good and bad times in our lives so do not get too upset about it. Get up, fix what is wrong and move on!

You are welcome to talk to us and find out how we may be able to assist.

What is the process of bank foreclosure in Malaysia?

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  1. When a borrower fails to pay the lending bank the monthly housing loan instalment for four (4) consecutive months, bank will issue  to the borrower a “Default Notice” in Form 16D, a form prescribed in the National Land Code of 1965.
  2. Bank will apply for “Oder for Sale” and upon High court granted the application, the court must set an auction date in 3 months from the date of Order for Sale.
  3. However, where a property has no individual title (with the loan made by way of Deed of Assignment), then the auction would be a private one. The bank can exercise its right by the Deed of Assignment to a private auction. In such a case, there is no need for the bank to apply for an Order for Sale. The auction would be held in the auctioneer’s office, and not in court.
  4. The property will initially go for auction at a reserve price close to the market value (as submitted in the order for sale). If there is no bidder in this auction  then the next auction will price it 10% lower than previous reserve price. This will go on until the property is sold.
  5. The bidder will need to pay 10% of the fixed reserve price at the auction. The successful purchaser will then need to settle the remaining price normally within 120 days from the date of auction sale.
  6. The proceed or payment will be utilized to settle any outstanding quit rent, assessment, sewage, management fees and any other bills; follow by payment to the mortgage holder / financier then finally the remaining balance (if any) to the owner. Note that the owner is still liable for any remaining outstanding sum if the proceed from the auction sale is not sufficient to cover all liabilities.

What are the process differences of a traditional real estate agent and you?

Using estate agents:

  1. You look for one or a few reliable real estate agents or negotiators. Make sure they are registered agents attached to a reputable real estate agency/ firm.
  2. Contact the agent to arrange viewing and taking photos of your house and advise you on the valuation.
  3. Negotiate with the agent their commission (normally 3%) and sign an appointment letter normally for a period of 3 months.
  4. Allow viewing of your property, normally at evenings and weekends. Ensure property is clean and tidy for viewings.
  5. Wait for potential offers. Be prepared to negotiate the price if there is any interest from the buyer.
  6. If there is no buyer, the agent will advise you to drop the price or do up your house.
  7. Often when there is a keen buyer, you will be advised to reduce price to cover any issues or objections.
  8. When you come to agree to a price, the buyer will pay you / agency an earnest deposit and you give them some time to apply for bank loan. If the loan application failed, you will need to refund the buyer the earnest deposit and look for the next buyer.
  9. When the buyer has secured a loan, each party will appoint their solicitors to work on the contracts or Sale and Purchase Agreement.
  10. The solicitors will execute the agreement and necessary transfer and registration.
  11. Complete the sale, settle the payment, handover of vacant possession.
  12. Pay estate agent’s commission, legal fees and taxes.

Using our quick sale service:

  1. Upon contacting us with your property detail, we will give you an indicative principal cash offer within 3 working days.
  2. If you agree to proceed, our personnel together with a registered valuer will visit your house.
  3. We will make you a final cash offer within 3 working days and the offer is valid for 7 days.
  4. Once you accept our offer, we will instruct our panel solicitors to work out the agreement.
  5. Upon completion of sale, we settle the outstanding payment within agreed timeline and you hand over the vacant possession.

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