Bought a house, ?will FD be reduced??

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Hi Scott & all,

After a little absence (and a long trip to KL), I am happy to announce that we have started the procedure to purchase a freehold House in KL.  We were lucky to have my (Realtor) god-father to filter properties once I've found them on iProperty and to liaise and negotiate with the Seller's Agent.

I have come across others seeking info with regards to buying a MY property;if you're looking in the KL/PJ area, I would be pleased to put you in contact with my god-father (no charge. Buyers and Sellers agents normally co-broke; thus sharing commission from Vendor).

We envisage our children (and future grandchildren) coming to 'holiday' in our new KL property.  However, when not "full-house"  we will consider assisting members of this Forum who have never been to Malaysia and needs a little guidance to get around!!

Now being in an imminent position to purchase/own a MY property (cost over RM1m),  my question this time, Scott and All, is:- Do you think we will get away with depositing RM60,000?  Or would we still need to leave it for a year before applying to withdraw the RM90k FD??

I see Scott's note about Joy-Stay's RM1800 DIY option. Anyone used it yet?  I wonder how this rates against Mr Ong's Poly-Travel ??  I emailed Joy-Stay when I was in KL but they have not replied to date.

Hear from you Guys!

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I have gone back and read contributions in connection with this.  Scott's 18/08/2007 reply looks promising!

I have also found threads on Alloexpat regarding the buying of RM1+million property:- the notion that people who do this (in the MM2H context) are not heavily endowed with common-sence.  I hope others are less critical.  If one is used to living in a £3million (= RM18million) house in a UK surburb, buying a MY retirement home costing RM1+m is not excessive. No sour-grapes please!  For the past 40+ years we have worked 15 hours per day 7 days a week for our wealth.

Again, there are (the same) some who declares that those with the ability to purchase a RM1+million property shouldn't be too bothered about the issue of RM90k (from the FD).  How wrong!!  In most cases, without the RM90k, it would mean living a year without renovations, replacement air-cons, etc.  It would be far more sensible to spend the 90k on local contractors (i.e. benifitting the MY economy in general).

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Hi NKS900,

This is Yvonne Lim from Joy-Stay (MM2H) Sdn Bhd. You mentioned that you emailed us at Joy-Stay and did not receive a reply, we check and reply our emails everyday. Did you submit a form to us ? Perhaps we replied to the wrong email address. Kindly email us directly should you require our assistance.

Our email address is mm2h@joy-stay.com

Thank you,
Regards,
Yvonne Lim

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Hi NKS900,

We received your email and have replied accordingly. Your previously submitted form was being replied on the 25th of April 08, and we attached the same email in our email which answered your question pertaining the FD requirement. We believe our first email was sent to your junk box.

We hope you have received our latest email , if not, please contact us again. Thank you,

Regards,
Yvonne Lim

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hi, NKS900,

I'm not up-to-date on the RM1 million buy property/get MM2H issue. The last that I heard was that this was a general proposal by the then deputy director of MoTour and that it was not official policy.

Maybe someone has more of a clue than I have.

regards, Scott

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Received notificaton that "wozlzl" has posted a reply to this subject.

Sorry, can't see it here or in my PM.

wozlzl, try again!

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hi, nks900,

It's spam. The name "wozlzl" was registered and several spam postings made. Qjumper deleted them and the name was banned.

Other April spam names are : "biggainnopain" &  "wozlzl1" & "homesecurity."

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Ahhh  So!  Naughty people, nothing better to do. 

Thanx Scott. 

BTW, chatted with corporateangel last week. will get in touch with fizzy** soon. Will all meet up soonest we hope.

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Suggest you ring or email the Dept. direct and ask for Cindy Lim. She is not only a jewel, but will give you the very latest on what is an ever changing scenario regards MM2H in the Governments eyes. I had no need of an agent and when asked the Dept. is most helpful. Email address I have  is mm2home@gmail.com attn Ms Cindy Lim.

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