The penalty rate is usually

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Freehold house with individual/strata grant: 90 working days starting from the date of the sale and purchase agreement. Leasehold houses with individual grants: 90 working days starting from the date permission is obtained from the state government. If the sale cannot be completed within 90 working days, you will usually be given an additional 30 days. For these 30 days, the owner will impose a penalty on the buyer.


8% of the house price which is calculated based on the number of buy benin whatsapp number database days of delay. For example, say the buyer is 25 days late and the house price is RM300,000. The penalty is calculated like this: (25 days / 365 days a year) x 8% x RM300,000 house price = RM1,643. Phew, that's a lot. What happens if the buyer cannot complete the sale after being given additional time? The owner has the right to cancel the sale agreement and forfeit the buyer's 10% deposit.


It hurts more. Be careful. #6 When the Buyer Receives the Key when the key will be accepted The booking form also states when you will receive the house keys. The house keys will usually be given after full payment of the house price has been made. You have to be prepared from the beginning because there is a period where you have started paying the house installments but have not yet received the keys.