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Check Malaysia Property Transactions: One-Stop Hub for Property Insights

Are you on the hunt for a home in Malaysia that fits your budget? Or perhaps you're ready to sell your property but struggle to set the right price due to factors like location and nearby amenities? If so, you've come to the right place! Our detailed Property Transaction guide is designed to help you navigate these challenges with ease.

Whether you're a buyer or seller, understanding the true value of a property is crucial for making informed decisions. From assessing market trends to evaluating neighborhood perks, our guide covers it all. Say goodbye to guesswork and hello to confident Property Transactions!

How does Property Valuation work?

Property transactions involve the crucial process of evaluating the current worth of real estate properties. This assessment is conducted by certified professionals registered with the Board of Valuers, Appraisers, Estate Agents & Property Managers (BOVAEP) in Malaysia.

These experts, empowered by the Valuers, Appraisers, and Estate Agent Rules of 1986, meticulously analyze various factors such as the property's location, condition, and market trends to provide accurate valuation reports. With Property Transaction, you can find out with ease about your propety insights.

Who Need to Know About Property Transaction?

Understanding when to seek a property valuation can be the key to making informed decisions in the real estate market. Here are some example:

1. Purchasing a Subsale Home: 

   • If you're eyeing a subsale property in Malaysia's secondary residential market and plan to secure a housing loan from a bank, a property valuation is a must. Let's say you've entered into a sale and purchase agreement (SPA) for a residential property priced at RM500,000. When you apply for a mortgage, the bank will appoint one of its panel valuers to assess the property's worth. This valuation report dictates the loan-to-value ratio, which can affect your financing. For example, if the report values the property at RM480,000, your loan amount may be based on this lower figure.

2. Home Loan Refinancing:

   • Planning to refinance your home loan? A property valuation becomes necessary, especially if your property has appreciated significantly since your initial purchase or if you're seeking better interest rates. By reassessing your property's value, you can unlock additional cash or secure more favorable loan terms.

3. When Selling Your Property:

   • While not mandatory, obtaining a property valuation can be advantageous when selling your home. It provides you with a realistic understanding of your property's market value, helping you avoid being shortchanged by potential buyers. This is particularly useful if you've received an unsolicited offer or are considering putting your property on the market.

Whether you're a buyer, homeowner, or seller, a property valuation offers valuable insights into the true worth of your property, guiding you towards informed decisions in the dynamic Malaysian real estate landscape.

Property Genie's Past Transactions Tool

When it comes to understanding property insights in Malaysia, Property Genis's Past Transactions Section offers a seamless and convenient solution. This feature provides trusted transaction data sources from the National Property Information Centre (NAPIC) for a wide range of properties, including subsale residential, commercial and industrial properties.

The best part, this features also analyze and compare property prices to find the best value deals in your desired locations. Here are the step by step guide to use Property Genie's Transactions Section to gain valuable insights:

Step 1: Access Property Genie’s Past Transactions Tool

Go to Property Genie's website and find the Transactions Section. It's usually easy to spot on the homepage or in the menu.

Step 2: Choose Property Type and Location

Choose the type of property you're interested in, such as residential, commercial, or industrial. Then, indicate your desired location, whether it's a particular city or area. With this information, we can begin a customized search to find the Property Transaction's insight for you.

Step 3: Refine Your Search

This step ensures that you're viewing relevant data tailored to your preferences.

Step 4: Analyze Transaction Data

You'll be presented with up-to-date information on properties median price within your selected criteria. Take your time to review details such as median price and median price per sq.ft. (psf). This data gives you a comprehensive overview of the market and helps you gauge current property values.

Step 5: Compare Property Prices

The ability to facilitate easy comparison of property prices and filtering options based on specific criteria such as tenure, property size, or other preferences. This allows you to hone in on properties that meet your exact requirements, saving you time and effort in the process and you can take advantage of this functionality to identify potential value deals in your desired locations.

The Importance of knowing a property’s asking/selling price

Understanding a property's asking or selling price is essential for both buyers and sellers alike. Let's explore the importance of knowing the latest property price data and the advantages it offers:

Smart House-Hunting:
Knowing the prevailing asking or selling prices helps buyers eliminate properties that are overpriced or exceed their budget. By having a clear understanding of market values, buyers can focus their search on properties that are within their financial reach, saving time and effort in the house-hunting process.

Effective Negotiations:
Sellers who are aware of the market value of their property can navigate negotiations more confidently. They can easily discern between low-ball offers and genuine ones, thereby rejecting unrealistic bids and entertaining offers that align with the property's true worth. This positions sellers to negotiate a fair and reasonable selling price.

Financial Planning:
For buyers, understanding the property's asking price is crucial for financial planning. It enables them to calculate the amount needed for a bank loan and estimate monthly mortgage payments. Armed with this information, buyers can assess their affordability and make informed decisions about purchasing a property that fits their budget comfortably.

Estimating Related Costs:
Having a gauge on a property's asking price allows buyers to estimate additional costs associated with the purchase. This includes the down payment, property valuation fees, stamp duties, and legal fees for the loan contract and sale and purchase agreement (SPA). By anticipating these expenses, buyers can budget accordingly and avoid any financial surprises during the buying process.

In summary, knowing the asking or selling price of a property is crucial for both buyers and sellers. It streamlines the house-hunting process, facilitates effective negotiations, aids in financial planning for buyers, and helps estimate related costs associated with the purchase. By staying informed about property prices, individuals can make informed decisions and navigate the real estate market with confidence.

 

Data Source & Disclaimer:

The transaction data provided on PropertyGenie.com.my is intended for general informational purposes only. It is sourced from the National Property Information Centre (NAPIC) and represents historical subsale property transaction prices. While we strive to ensure the data's accuracy, completeness, and reliability, PropertyGenie.com.my makes no warranties or representations as to the data's current accuracy or completeness. The information constitutes "Third Party Content" under our Website Terms. Users are advised to use this data at their own risk and consider seeking professional advice for property decisions. We disclaim liability for any errors, omissions, or inaccuracies and any loss or damage arising from reliance on this information. PropertyGenie.com.my reserves the right to update or amend the data without notice.

 

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