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I bought a shop lot I'm trying to sell it at a give away price there is an intrest in the lot but the issue is a bumiputra lot but I paid the full price knowing I would be able to sell it.the developer told me it's bumiputra lot but how do I resolve it and the issue is also I'm a bumiputra .can anyone help me to clarify this matter please.I bought it full price with no bumiputra discount.
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1 Answer

David Wong Lai Kwong
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Firstly you have to make sure that you are not buying a bumi lot from the developer if you are paying the full price without bumi discount. This applies mostly to new projects. The irony is that Land Office is not able to know whether you bought a bumi lot without discount or not. From what I know,they will just look at the name and decide to approve the transfer or not.I have asked a lawyer about bumiputra clients of mine selling their bumi unit to others. The lawyer advise that the Land office is more lenient after 5 years but even this is not a written law. The best you could do is to enquire from the respective Land Office on how to apply a waiver and consent to sell in the open market. I would also like to know because I have many bumi clients who owns properties.
Please email me davidwong@quantumrealestate.com.my
Thank you
David Wong
Principal
QUANTUM real estate Read More
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