OWNING A HOME
Congratulations on your decision to be property owner! Be it owning a home or commercial property, this is an important step and at Naim, we shall endeavour to assist you to own a property of your dreams. We look forward to welcoming you to the Naim family!
Registration Of Interest
To state your interest in owning a property, you are advised to register online at www.naim.com.my or visit any of our sales offices to obtain a copy of the Registration of Interest form from our sales personnel. You are able to proceed with the Registration of Interest before the property is launched.
Selecting A Unit
For those who have registered their interest, they will be invited to our sales office to select their units prior to the property launch. Selection of units will be on first-come-first-serve basis.
Financing Your Purchase
Once you have information about the unit you would like to purchase, it is advisable to consult the financing houses such as banks or even EPF for a preliminary assessment as to whether you are able to obtain financing for the unit.
Letter Of Offer
Once you have made your selection, you will be issued with a Letter of Offer. The letter will contain information of the property which you intend to purchase. To accept the offer, you are required to pay an initial down payment of ( %).
Execution Of Sale And Purchase Agreement (SPA)
You are required to execute the SPA at our appointed solicitor’s office upon settlement of the ( %) down payment within 14 days from the date of confirmation of sale.
Loan Application And EPF Withdrawal
You are advised to apply for a loan upon confirmation of sales. For those who are EPF members and would like to make withdrawals from your EPF account, you will need to obtain the EPF Withdrawal Form from the nearest EPF office of download the form from the EPF website at http://www.kwsp.gov.my
Private Sector Loan Applicant
At Naim, we have appointed a panel of bankers to assist you with loan applications. However, you have the option to choose any bank/finance house to finance your purchase. Generally, the documents required to apply for a loan are:
- Original copy of the SPA
- Copy of the title deed (if available)
- Photocopy of your IC
- A copy of your last 3 months’ pay or last 6 months’ bank statement (if self-employed)
- Letter of confirmation on income and years of service from your employer
- A copy of Income Tax return/EA form for the past 3 years
Loan Processing Sequence
- Submission of loan application form with the necessary documents
- Interview by the bank/finance house
- Letter of Offer by the bank/finance house to be signed by you as acceptance of the offer and returned to the bank/finance house, with a copy to us
- The bank/finance house will issue a letter of instruction to their solicitor to prepare the loan documents (the loan documents will differ, depending on whether the property is a landed property with individual titles or whether it is a strata unit)
- The bank/finance house will issue you a letter, advising you to execute the loan documents at its solicitor’s office
- After that, the loan documents will be forward to the bank/finance house for execution
- The loan documents will be returned to the solicitor, who will then forward to us the relevant documents for execution
- These documents are then returned to the solicitor for stamping and registration by relevant government authorities. Stamped documents are given back to the bank/finance house for safe keeping. A copy of the documents is given to the purchaser and developer for records
The bank/finance house will release payments to us progressively in accordance with the 3rd Schedule in the SPA upon receipt of our invoice.
Government Loan Applicants
If you are a civil servant, the requirements for a housing loan are laid out in www.treasury.com.my. You are advised to study the requirements carefully.
To qualify, you need to be an EPF member.
Your entitlement would be 30% of balance available in you EPF Account II or the difference between the purchase price and loan amount (whichever is lower).
- Submit the EPF Withdrawal Form together with the original copy of the SPA
- Submit photocopy of your IC and a copy of the letter of loan approval from your end-financier
(the original SPA, letter of loan approval from your end-financier and IC would need to be sighted by the EPF officers)
Mode Of Payment
Generally, the payment will be released directly to the member within a period of 3 to 4 weeks from the date of submission. You can refer to EPF’s website at www.kwsp.gov.my for more information.
The initial down payment as stated in our letter of offer needs to be paid upon execution of the SPA.
Late Payment Charge (LPC)
As stipulated in the SPA and the relevant laws, a late payment charge of 10% per annum will be levied on any overdue payment.
To avoid LPC:
- Apply for your loan immediately – we will pleased to assist you on this
- Liaise with EPF to ensure prompt release of withdrawal amount
- Settle the difference between loan amount and purchase price immediately on loan approval or on receipt of invoice from us
- Monitor closely the loan processing with your bank/finance house to ensure that loan documents are finalised within the grace period
- Liaise actively with your bank/finance house and solicitor on the receipt of the invoice from us to ensure payment is made within the period of 14 days from the date of the said invoice
This involves periodic invoices issued by us as and when the relevant construction stage in the 3rd Schedule of the SPA or the Government Schedule is completed as certified by the architect.
The payment period is ( days) from the date of the receipt of invoice.
Invoice To End-Financier/Treasury
Invoices are forwarded directly to the bank/finance house/treasury (whichever applies), to enable you to liaise with them for prompt payment release.
Mode Of Payment
We strongly advise for payment to be made by crossed cheques, bank draft, money order or bank transfer. If possible, avoid cash payments (except for the settlement of miscellaneous charges during the handing over of vacant possession).
Refund Of Over Payment
This is subject to the following:
- Loan has been approved by your bank/finance house
- The 1st progress payment has been released by the bank/finance house
- The difference between the loan amount and selling price has been settled
- Any late payment charge or miscellaneous charges (if any) have been settled
Your Rights As A Purchaser
As a purchaser, you are entitled to various rights in accordance with the SPA. The Sarawak Ministry of Housing is the authority sanctioned by the State Government to ensure that your rights as purchasers (for residential property only) are protected by controlling and regulating housing development in the State of Sarawak. The laws which protects your rights as a purchaser are:
For Residential Properties
Housing Developer’s (Control & Licensing) Ordinance 1993
Tribunal for Housing Purchaser Claims
For Non-Residential Properties
If the property is for commercial purposes, your rights and the developer’s obligations are stipulated in the SPA.
1) When can I collect my house key?
Upon completion of your unit, a Letter of Handing Over of Vacant Possession will be conveyed, notifying you to take vacant possession. You are given 14 days from the date of receipt of the letter to settle all outstanding bills (such as those under progressive payments and inclusive of other charges) before making the appointment to collect the house keys from our Customer Service Unit (CSU). The appointment date and time is subject to availability, on a first-come-first serve basis.
Before keys can be collected, there would be a joint inspection organised, to inspect your house, the details of which are provided in the following paragraphs.
2) What is joint inspection? Can I collect the key without doing the joint inspection?
You are advised to carry out a joint inspection during the key collection. A joint inspection between your goodself and our CSU personnel is intended to ensure that all specifications as per the Sale and Purchase Agreement are provided and to identify any defects or feedbacks. Your complaints and feedbacks should be in writing and will be attended throughout the defects liability period.
3) Can my relatives or friends collect the key on my behalf?
Yes. You can authorise them to collect the key on your behalf by providing a Letter of Authorisation to us prior to the key collection date. On the key collection day, the authorised person(s) will need to bring along the original copy of the said Letter of Authorisation and his/her/their IC for verification.
4) What is the procedure for key collection?
The keys can be collected at our CSU. We will also provide you with other information such as the Homeowners’ Manual and Utilities Forms to assist you.
5) Can I pay my outstanding bills and collect the keys later than 14 days from the date of receipt of Letter of Handing Over of Vacant Possession?
Yes, you can pay the outstanding bills and collect the keys later than 14 days from the date of receipt of letter of Handing Over of Vacant Possession subject to a notification to our CSU
Defects Liability Period
1) How long is the Defects Liability Period (DLP)?
12 months+12 months from the date of notice to take possession for residential and commercial properties.
2) What is the extent of developer’s liability during DLP?
The items covered by the developer include reasonable defects arising from workmanship or any alleged (structural and constructional) defects which can be improved within reasonable expectations.
However, the developer will not be liable for defects arising from wear and tear, negligence of your own contractor(s) or your neighbours’ renovation works. As such, it is important to carry out the joint inspection so that such defects (if any) can be identified.
3) How long does it take to complete the rectification works?
Once the issues brought up to our CSU have been verified as valid, our CSU will communicate with our Project Team, which will instruct our contractor to proceed with the rectification works.
Generally, our CSU will allow for 14 days for the Project Team to rectify the defects. However, the duration needed to complete the said works depends very much on the extent of works required. Should a longer rectification period be required, our CSU will update you on the measures to be taken and the revised completion schedules.
Once the certified defect is rectified, our CSU will again conduct a joint inspection with the owner to acknowledge and sign off the completed works.
Utilities (Electricity and Water Supply and Telecom)
1) Have all the switches, power points, telephone points been provided and tested?
Yes, all have been provided according to the specifications in the Sale and Purchase Agreement. They have also been tested and are in compliance with the relevant regulations.
2) When do I need to apply for my water, electrical and telecom accounts?
Our CSU will assist you to apply for electricity and water connections prior to the handing over of your unit. As for the telecommunication connection, you would need to do the application.
3) When will my application for utilities be approved?
The approval of application is dependent on the relevant authorities. Generally, the applications would be approved prior to issuance of the Occupation Permit for your unit.
1) When can I start to renovate my unit?
You can start renovations after the handing over of keys.
2) Can I make additions / alterations to my house?
Yes, but you will need to seek approval from the local council for all internal and external renovations before commencement of any works.
3) Can I make changes such as installing grilles for my windows/doors, change colour of my external walls?
Generally, for a landed property, you are able to make such changes according to your preference, after the handing over of keys. However, for strata title properties, you may need to seek to approval of the Management Corporation, which is the managing body of that strata property before changes can be implemented – this is to ensure consistency in concept of the building facade.
4) Can I knock down the internal wall?
Yes, only non-load bearing walls can be demolished.
5) Will I be given the necessary house plans, in case I want to do renovations in future?
You are advised to forward a written request to us in the event that you require the plans and we shall endeavour to assist you.
Quit Rent and Assessment Fees
1) Where can I pay the quit rent (Cukai Tanah) and how often do I have to pay in a year?
You may pay your quit rent at the Land and Survey office or via various online payment facilities and you will be charged once a year.
2) Where can I pay the assessment fees (Cukai Pintu) and how often do I have to pay in a year?
You may pay your assessment fees at the local council office or via various online banking facilities and you will need to pay twice a year.
Strata Title FAQs
A simple guide to Strata Management & Strata Living
What is Strata Title?
This is whereby a building is subdivided into a number of parcels with individual titles – these individual titles are called strata titles.
What type of properties are Strata Title properties?
In Sarawak, ownership in multilevel or multi-storey buildings such as apartments or condominiums is known as the strata title. The strata title ownership is governed by the Strata Title Ordinance 1995, the main piece of legislation in this area.
Do I own only my unit or the common properties as well?
Generally, you not only own your unit, but you also co-own the common properties such as lifts, staircases, foyers, gardens, car parks etc – the size of your ownership on the common properties depends on the built-up size of your unit.
When is the strata title issued?
Strata title can only be issued upon approval of application for subdivision of the building, approval of strata title survey, payment of necessary fees and formation of a Management Corporation (MC). The time frame given for compulsory application for strata title is upon expiry of six months after the sale of the first parcel in the building or six months from the date of completion of the building approved for subdivision.
As such, the issuance of the strata titles for the owners may take some time, in view of the various processes involved with the relevant authorities.
Who manages the building and common property?
Before strata title is issued and the formation of the Management Corporation (MC), the developer is responsible to manage the building and its common property. After issuance of the strata title, this responsibility falls under the MC.
Who are members of the MC?
All unit owners are in fact, members of the MC and have a say in how the building is managed. The MC will also elect a Council to run the daily affairs of the building for the MC.
What are the duties and responsibilities of the MC?
- To formulate and enforce the rules and regulations so that all residents can enjoy a peaceful and uninterrupted stay
- To manage and maintain the common properties for the benefit of all unit owners
- To pay for all rates imposed by authorities
- To ensure that the building is fully insured in accordance with its needs
- To comply with laws and policies imposed by the local council and relevant regulatory bodies
- To determine the amount Management Fee to be paid by unit owners, and to collect such payments
- To take action against unit owners who contravene the rules and regulations in relation to the apartment/condo
As the Council elected by the MC performs the property management function, it is important for the Council members to be competent and vigilant. Alternatively, MCs can appoint a professional property manager to provide property management services to the development.
What’s the main difference between living on a landed property and apartment/condominium?
There are 4 main differences – for landed properties, you would need to spend more time in maintaining the areas surrounding your property such as your garden etc, while for the latter, the common areas such as gardens, walkways, lifts/stairways are maintained by the MC. You are only responsible for your own unit.
Another important difference is that for apartments/condominiums, there is a dedicated team of security personnel overseeing safety and security of residents – access to all areas are normally via key cards which are given only to its residents. As such, residents can enjoy a greater peace of mind.
Thirdly, apartment and condominium developments generally come with various facilities for their residents, such as parks, swimming pool, gym, car parks etc.
Lastly, all residents would need to abide by a set of rules and regulations to facilitate harmonious community living. These rules and regulations, normally called the House Rules or the Residents’ Manual contain the do’s and don’t’s while residing within the development – the rules and regulations cover aspects such as payment of management fees, renovation hours, car park usage and many more.
What is a Deed of Mutual Covenant?
When you buy a strata title property, you need to execute a document called the Deed of Mutual Covenant (DMC). A DMC contains the rules and regulations in relation to the rights and liabilities of all unit owners and the MC.
What are my rights as a unit owner?
- To make use of the common property and common facilities
- To sell or rent out my unit
- To vote at the Annual General Meeting (AGM) and extraordinary general meeting conducted by the MC
- To be provided with service such as provision of water, sewage, drainage, electricity, garbage collection and other related services
- To inspect the records and accounts of the MC
What is the Management Fee and why do I have to pay it?
The management fee paid is to be used for maintenance of the building and common properties, a portion of which would also be saved for long term capital expenses as the building ages, such as for painting the building, plumbing etc. The amount of fees to be paid depends on the built-up area of your unit and various other factors relating to usage of the development.
It is important to pay this fee to ensure that the building and its common property/common facilities are properly maintained.
What can the developer or the MC do if the Management Fee is not paid?
Before the formation of a MC, under the Deed of Mutual Covenants, in the event that any sums of the management fund is not paid within the period provided, the developer has the right to:
- Charge interest on a daily basis at the rate of 10% per annum for the unpaid sums;
- Suspend or withhold any services to the owner’s unit;
- Exclude the owner, his invitees from entering the strata scheme or the common property;
- To seize and sell the owner’s unit to any third party to recover the outstanding sums from the owner.
Upon formation of the MC, the following are available to the MC under the Strata Title Ordinance 1995 to recover the outstanding sum from the unit owners:
- Recoverable by an action for debt in any court of competent jurisdiction;
- Except where a unanimous resolution is required, the owner will not be entitled to vote at a general meeting unless all contributions to the management fund for his unit has been duly paid.
Do I still have to pay assessment fee even though I have paid the management fee?
Yes, as assessment fee is a fee imposed on the properties located within the area of jurisdiction of a local council, you still need to pay it.
This means that unit owners would need to pay for their individual unit assessment fees whilst the MC would pay for the common area assessment subject to the rates charged by the local authority.
What if I have noisy or rowdy neighbours?
Normally, the House Rules or the Residents’ Handbook would contain rules relating to nuisance. The affected resident can lodge a complaint to the Property Manager and should the maker of the nuisance be found to have breached the rules, then a penalty would be imposed.
Can I renovate/refurbish my unit?
Yes, you can – all renovations/refurbishments are subject to the rules set out by the MC. These rules are normally available at the Property Manager’s office. Prior approval needs to be obtained for major renovations which may affect the entire building.
Is there a demand for apartment/condominium-type of properties?
There has been an increasing demand for such properties because of the unique lifestyle they offer. The many privileges, as well as the comfort and peace of mind of such lifestyle, have attracted more and more buyers over the years.
Can I sell or rent my unit pending issuance of the strata title?
Yes, pending the issuance of the strata title, the owner of a unit can still sell or assign their unit and the non-availability of the strata title does not in any way affect the owner’s right to their unit. However, for any sale of the unit, prior consent from the developer must be obtained and the new purchaser must enter into a similar Deed of Mutual Covenants.
Can I take up a loan with a financier pending issuance of the strata title?
Yes, pending issuance of the strata title, the purchaser can take up a loan with a financier by executing a deed of assignment with the financier as security – this deed assigns all rights, title and interests in respect of the property and under the previous sale and purchase agreement to the purchaser’s financier. Once the strata title to the unit has been issued, the owner will charge his unit in the same way as a property with individual title.