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Buyer's Tools > Guideline |
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Owning A Home with IJM
Private Sector Loan Applications
Schedule of Payment of Purchase Price
Government Loan Applicants
Loan Evaluation by End-Financiers
Payment Procedure
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Registration
Register yourself at www.ijmproperties.com or visit our sales office at any of our sales office located in Petaling Jaya, Penang, Johor and Sandakan. Our sales personnel will be happy to provide you with registration forms in which you can state your preferred location and type of property
Selection of Unit (Reservation Of Unit)
Prior to a launch, registered buyers will get preferential choice in the selection of units and this will be done on a first come first serve basis
Letter of Offer
Upon selection of the unit, a letter of offer will be issued and the receipt for the initial 10% down payment.
Execution of Sales and Purchase Agreement
Execution of the S& P must be done at our appointed solicitor's office upon settlement of the initial 10% down payment
Application for Loan and EPF withdrawal
Assistance will be given in the application for a house loan from our panel of end-financiers. EPF members, who would like to make withdrawal from your EPF account, please obtain the necessary forms from the EPF Office or download it at http://www.kwsp.gov.my.
Letter of Offer On Loan
Upon approval of your loan a letter of offer will be issued by the end-financier of which be accepted and acknowledged by you within 14 days. Please be advised that you are to settle the difference between the loan amount and the purchase price in accordance with the Third Schedule of The Sale and Purchase Agreement
Letter of Instruction to Execute the Loan Documents at Solicitor's Office
The solicitor will be instructed by the end-financier to prepare the loan documents for the purchaser’s execution. In the issuance of a separate title the property will be charged to the end-financier as a security for the loan. If this is not the case, the property will be assigned to the end-financier by way of deed of assignment of the SPA.
Registration of Documents
In the issuance of a separate title, the end-financier's solicitor will normally present the Memorandum of Transfer in favour of the purchaser and the charge in favour of the end-financier registration at the relevant Land Office. Where a separate title has been issued, the end-financier will keep the original SPA and the original Loan Agreement and Assignment as security for the loan
Release of Progress Payment
Once the loan documents have been completed, the end-financier's solicitor will advise the end-financiers to release the outstanding progress payments to us in accordance with the Architect's Certificate issued upon completion of each stage of construction.
Progress Billing
Billing will be done progressively either to you or the end-financier as and when the Architect's Certificates are issued upon completion of each stage of construction as per the Third Schedule of the Housing Developer’s Act. Pay the differential sum. The bank then releases the progress payment. If you are a cash purchaser, you will be billed directly.
Final Billing and Handing Over of Vacant Possession
Upon completion, VP of the said property can be delivered to you. You have deemed to have taken delivery of the said parcel upon expiry of 14 days from the date of VP letter
Collection of Keys / Clearance Letter
We will issue a Release Letter authorising our IJM Personnel to release the keys to you upon full settlement of any outstanding payment.
Joint Inspection
A joint inspection will be arranged between you and our IJM Personnel / appointed Property Management so as to ensure that all specifications as per the Sale and Purchase Agreement are provided for and also to identify any defects or complaints. All complaints should be in writing and will be attended to by our Implementation Section throughout the eighteen (18) months defects liability period. Any defects apparent during this period not arising from your own actions will be rectified by our Implementation Scheme and these written complaints will be attended to on a first-come-first serve basis.
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