Off plan property investors in Malaysia can look forward to a relatively straightforward process when buying property in the country and applying a local trusted lawyer will help the whole thing fly by with the minimum of fuss, and help avoid any potential pitfalls.

Once a property has been decided on, a Letter of Offer and Acceptance is signed and a deposit of around three percent the total fee is paid (off plan properties usually require a deposit of around 30 percent). Within 14 days from the signing, a further seven percent must be paid – from then it is a case of checks and formalities, and the Sale and Purchase Agreement (contract) is to be signed within three months of the Letter of Offer, with the remainder of the fee paid. The Sale and Purchase Agreement is then sent to the local land registry and the sale is formalised. All outstanding taxes and other fees are also paid.

Fees vary, and taxes tend to be around three to six percent of the total cost of the property.