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I bought a terrace house in jb. It is bumi lot. But I was told by developer that after my loan approved they will convert bumi lot to non bumi. So they can get payment from bank. Does this mean this house will b a non bumi lot after that n I hv no problem to sell it to non bumi?
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1 Answer

David Wong Lai Kwong
Replied
Hi Terrace,

1.If developer cannot sell all their bumiputra quota lots (different from Malay Reserved)they can apply to the local authority for a waiver to sell to non-bumiputra provided the developer can show proof that they have tried advertising and marketing aggressively to bumiputra buyers over a sufficient period of time of more than 6 months.

2.Ask the developer for the official release letter.

3. If you are buying on condition that the unit will be released to non-bumiputra make sure that your deposit is refundable and no costs is incurred on your part if the approval is not granted.
David Wong
Principal
QUANTUM Real Estate
www.quantumrealestate.com.my Read More
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