Things You Need To Know About Developer and Master Title

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Things You Need To Know About Developer and Master Title

Nowadays, owning and buying a house consider a privilege to anyone who capable of doing so.
As property market become challenging ahead, you want to be diligent and meticulous, when buying a new home.

Especially, buying directly from the developer or buying from estate agent or seller.

Buying From Developer

As property market become tight, developers have been struggling to meet their property sales target. Some launches might have been affected, and this will positively impact the whole project as well.

If the developers are not financially stable, the project might stop or delay, and this is not fair to the present buyers.

Therefore, it’s always wise to make sure the property that you like is from prominent and financial stable developer.

Buying From Property Agent Or Seller

A purchaser generally will arrange an appointment with agent or seller to view the house.

Once a buyer like what they see, they will put a booking without doing further research.

A property that still under master title for more than ten years are less appealing to the bank.

Only means, if you have the best profile but the property is still under master title for more than ten years, your application will have high chances to get a rejection from the bank.

It is considered wise to avoid such property.

Although, if the property still under master title for less than ten years, checking the developer background will be a bonus step.

Master title property have a significant connection with the developer. If the developer is reputable and still around, they will continue to process the subdivision of property title.

However, things get complicated when developer declared bankruptcy. A new company will take over, a liquidator. But, things can get a little bit challenging.

The new liquidator company might say that they’ve no money or don’t have documents to proceed for the subdivision of property. So, it can be tricky and tough to get things done.

The best things are avoid buying a property from those developers.

Make sure you check the list from KPKT on the blacklist developer, and always avoid buying the property from those developers.


Conclusion :
It is important to check developer background and profile before buying under construction or completed property. For completed property, if the property still under a master title, checking the developer background is a must. Make sure the developer profile and financial background are stable.

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By | 2016-11-01T10:45:55+00:00 October 26th, 2016|Home Loan Library, Latest News and Update|0 Comments

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