Chronicles of the New Apt

In view of the fucking complexities in the procedures of buying a house, i have decided to list the chronicles of my adventure here for future reference.

1. Scouting
I started to look half-heartedly around Jan 2010 when news of the transfer to Africa dissipated.

Around Feb-Mar i scouted seriously and viewed units. I was already taken-in by the location of XX, but still considered other places. Only viewed Bkt Jalil, n Casa suites though but made up my mind on XX, mainly due to the golfcourse view, prestigous address and proximity to shopping.

2. Bank loans
I called and visited banks to enquire about eligibilty, and perhaps getting a pre-approval but almost all were uniterested in the absence of a booking deposit. Only HSBC and HLB did some preliminary document collecting.

3. Negotiating prices
This was the trickiest, with many, many sleepless nights. Let go a wonderful bargain of a brand new 2 carpark unit. First offered at 400K nego, i asked for 380K. Agent countered at 388 but i pressed for 382. Someone took it for 395K before i got an answer. Other units offered but no reply when negotiated upon.

KIV a particular unit which lookd alright, but tenanted to messy indians, and with only 1 cp. Asking 380K, offered for 370K but no reply.

4. Deciding units 1/04/10
Viewed the KIV unit for the 2nd time by accident (agent told me of a different unit)after a month or so. Up offer to 375k but no reply. Already very fed-up of so many unsuccesful weekends of apt-hunting.
A few weeks after, agent told of another unit owned by the same owner. Went to view and agreed right away at 380K asking price.

5. Paying booking fee 2/04/10
Invited agent (who came with his mortgage officer mate) to my office the next day for paymet of deposit. He suddenly got a call from owner, who decided not to sell. Then a phone call again and the owner wanted to re-negotiate. The bitch asked for 390K but i offered a last price of 385K and willing to walk away. Tried hard to control my temper as the agent looked shaken sitting in front of me (either afraid i might fuck him, or worried about his con-job). Bitch talked to me to press for extra 1-2K but I wasn't interested. As i was about to tell the agent to fuck off a phone call came and they agreed on 385K. Agent wrote a receipt and letter of intent, but changed the unit to another one (earlier unit), and asked for my signature without mentioning the change. Spotted it, enquired about it and paused but decided to sign anyway as the other unit is almost the same (dirtier, but of a higher floor). I wrote them a cheque, the bitch wanted it in her name but i insisted on the property company's name.

Think i was sharp enough to put a clause for the owner to fix the toilets, door knobs and make sure the house in good order in the letter of intent. However, i forgot to photocopy my cheque and was worried the agent would runaway with it, though unlikely.

Also I should have asked the owner to have the SPA ready to save further delay. Had to wait till Sunday for it, worrying sick that they might delay it as i have an outstation trip coming.

6.Loan application

Had 14 days to apply loan and sign SPA. The day after (Saturday) walked around shopping malls hoping to come across booths with bank promotions. Managed to apply to Citibank and UOB.

Took leave on Monday and applied to OCBC, Stan Chart and Alliance. Also followed up on HSBC, HLB, Citi and UOB.

Was worried sick for days that loan will not be approved due to chequered employment history and lack of documents.

7. Loan Approval

Although the bank officers stated a period of 2 weeks for approval, all loans were approved within 3-4days, with full valuation too. I was overseas when the good news came.

8. SPA signing

Documents were passed to TC who has a friend doing conveyancing, one day after booking deposit. Had to call him many times before the SPA is finally passed to me on 30/04. Had many spelling errors.
Finally signed it on 3 May, in a pub.

9. Loan signing

Signed it on the eve of 03/05 at HSBC branch. The lawyer came, was sulky and annoying. She reduced the fee to RM 6K. The valuer called a few days later - RM 830 valuation fee - pretty high i thought.

10. Further processing

It took a bit of time and some anger before the SPA lawyer sent a copy to the loan lawyer to process (19/05). Was told by TC though that the lawyer had initiated call for consent earlier.

11. First drawdown

The banker Tina called me and told me the drawdown amount has been released. I thought it would mean getting the keys, but no it was just to pay the previous owner's bank loan.

10. Final drawdown

The final drawdown happened on 6/09. Nobody noticed it, until I called the loan lawyer - who mentioned that a letter had been sent. I called the SPA lawyer and demanded the keys but it took a few frustrating days

12. Keys

After what seemed like forever, and feeling so desperate and sick of staying in the rented room - I got the keys. It was on 15/09. I rushed from my workplace to the lawyer's office sometime in the afternoon. Paid him some due money for the utility bills or something and drove back to the office feeling really elated.

Another house

I don’t have a good feeling about this.

My gullibility was way too obvious I guess, resulting in my (perhaps) being conned out of RM 5K.

After months of looking for a place, and missing out on a good unit I think, I was hijacked at the last minute by a young property agent and seller (and I actually called them immature). Sure enough, that RM5K was not a big sum, but if I was to be a little more patient and sharp, I would not have felt so bad. I deserved to lose that RM5K, my stupidity was my downfall.

Always seems to lose when it comes to negotiating.

I just hope that from now on, the loan processing will go smoothly and that apartment would turn out to be a good buy.

This whole thing has had me feeling very sick for a long time. It was hell with my tight schedule to be viewing houses and negotiating shit. Living in that rented bedroom on the other hand was driving me restless. So many sleepless nights and worry, now this – I really hope it would be smooth from now on.



Not to say i'm too excited about this particular unit actually. Yeah the golf view is a killer, but the one parking lot gets me pretty uneasy. The unit is currently tenanted with some Indians who have not kept the place very clean and it stinks.

What realy got my goat was how the seller dilly-dallied with the selling for weeks and at the last minute staged a coup with the agent to increase it by 5K.