Buying a new launch, step by step

From booking to keys

1. Shortlist and view

   Compare projects, layouts and facings, take the 360° tours and visit the show units. We send today's price list and the units still open.

2. Book your unit

   Sign the developer's booking form and pay the booking fee it states. Ask what is refundable if your loan is not approved.

3. Get your loan approved

   Submit your documents to a panel bank. The letter of offer confirms the margin, rate, tenure and lock-in.

4. Sign the SPA

   Your lawyer explains the sale and purchase agreement. You pay the down payment set out in it, and the loan agreement is signed alongside.

5. Progress payments

   As construction milestones are certified, the bank pays the developer in stages. You pay interest on what has been released so far.

6. Vacant possession

   The developer hands over your keys within the delivery period in the SPA, usually 24 or 36 months from signing depending on the project.

7. Defects and handover

   Inspect the unit, report defects in writing and have them repaired within the defect liability period set in your SPA.

8. Move in or rent out

   Collect the keys, set up utilities and, if you're investing, line up tenants. We can help with renovation, furnishing and tenancy.

The law that protects you

In Peninsular Malaysia, residential projects are governed by the Housing Development (Control and Licensing) Act 1966, which prescribes standard SPA forms: Schedule G for landed homes with individual titles and Schedule H for strata units such as apartments and condominiums. Sabah and Sarawak have their own housing-development laws, so The Bedrock in Kota Kinabalu and Sejati Sentral in Sandakan follow Sabah's rules. Many serviced apartments are built on commercial land; ask your lawyer to confirm which SPA form applies to the unit you choose.

Late delivery

If the developer hands over late, you are entitled to liquidated damages at 10% a year of the purchase price, pro-rated by day: days late × price × 10% ÷ 365. On a RM300,000 home delivered 100 days late, that is RM8,219 (KPKT's own example).

The Tribunal for Homebuyer Claims

Claims of up to RM50,000 (more if both sides agree in writing) can be filed with the Tribunal for a RM10 fee, without a lawyer. Late-delivery and other SPA claims must be filed within 12 months of the certificate of completion and compliance; defect claims within 12 months after the defect liability period ends. The Tribunal hears cases from Peninsular Malaysia and Labuan.

Checklist before you book

• Title and tenure: residential or commercial title, freehold or leasehold (and the lease expiry).
• Completion date in the SPA, and the developer's track record on delivery.
• Unit details: layout, facing, floor, car park allocation and the estimated maintenance fee.
• This month's package: rebates, legal fees and furnishing, in writing.
• Loan pre-check before you pay the booking fee, so you know your margin.
• Rental rules if you plan short stays: some buildings and councils restrict them.

How we help

We work only on EXSIM projects, so we can tell you which units are genuinely still open, how the facings compare, and what this month's package includes. We book your viewing, arrange the loan check with panel bankers and stay with you through the SPA to key collection, at no cost to you.