01
what you can buy a house with no money down
First option you can buy a house with no money down.
There is owner who’re willing to sell their house below market value for some reason, and also by understanding their benefits they agree to do something called a “mark-up” sales which could help us to own a house with “Zero Down Payment”
Example that I have now in hand,
One of the unit with 2 car park of Idaman Iris is selling for RM 380,000. However, the house value in the market which is reach above RM 450,000 in the past.
If you agree to buy this house on condition that the price in the SPA (Sales & Purchase Agreement) is RM 450,000. This means on record you’re buying the house for RM 450,000 but the real price you need to pay the owner is RM 380,000 only.
So, you apply your mortgage loan base on selling price of RM 450,000, then the 90% of it will be RM 405,000 which is after deduction of the amount you need to pay to seller, you still have RM 25,000 balance.
And this is enough to cover your closing fee (Legal Fee, Stamp Duty & Other disbursements fee). Therefore you don’t have to come up with the 10% deposit and most of the upfront payment required to own your home.
Make it simple, you can make your purchase with no money down & get this home at BMV (Below-Market-Value)
Then, a small fee to pay the RPGT on the difference between the SPA price and the actual purchase price which is RM 450k – RM 480k = RM 70k * 5% RPGT amounting to RM 3,500 only.
Second option you can buy a house with no money down.
There are many projects in the market now offering high rebate which could covers most of the fees mentioned above.
This is exactly why new projects always so attractive to home buyers.
Some projects even with higher rebate where could get some cash out with “compress loan”
But aware of it, all this money is not free money, its end up you need to pay for the additional interest.
If you don’t know how to maximise the ROI from extra cash out, it is high risk and growing this snowball over period of time.
02
Where to buy a house with no money down
Here, you can get to buy a house with no money down from Mr. Cheston where you could find the WhatsApp icon on top of this page or an Apple icon to call & reach Cheston.
Within this website, there is more buying guides over the blog posts. The real life experiences sharing which could SIMPLIFY YOUR PROPERTY INVESTMENT JOURNEY.
03
When is best time to buy a house with no money down
#YourTime
By the time you got prepared for the risk management (your time), you will know how to enter the market and leave the market well.
Where there is crisis, there is opportunity. Rich people getting richer over a market crash. Are there only getting richer during bad market?
My answer is a firm “NO”, they are getting rich anytime even during their “sleep time”
So, don’t trying to look for the best time to buy, start looking to get yourself well prepared and understand where you could manage the risk and handle it under pressure.
Then you can have #YourTime the #BestTime to buy.
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04
Who is entitled to buy a house with no money down
Majority of working adult with monthly income above RM 3,500 could easily get an attractive package from the market today.
One of the project I am selling now, Eco Bloom is starting from 3XXk which the monthly instalment start from RM 12XX only.
It’s hot selling with the current promo now which is cheaper than earlier purchaser like me.
05
Why buy a house with no money down
Home ownership is a big commitment. Especially if you want to use a mortgage. If you lack financial discipline, a mortgage is like a credit card. You will find yourself in the hot soup.
More often than not, people who don’t have the money for a deposit, need to build their financial muscle. With sufficient discipline, most people can learn to save and become financially prudent. These are the key skills you must master before considering investments and mortgages.
This will lay a solid foundation for you, enabling you to build a solid investment portfolio over time with minimal risk to yourself. Therefore…
Think about it what if you paying rental for almost the same commitments and discipline needed to live?
You may be buying a house to provide it with security in retirement age. When you retire, you either own a fully paid house or have enough equity to sell the house and live a comfortable life.
A house is great tools to helge against inflation… Find out now 👇🏻