Buying a subsale house (an existing house, not a new developer project) has several key steps. Here's a simple summary for first-time buyers.
Before you start looking for a house, know how much the bank is willing to lend you based on your income and existing commitments. This avoids you falling in love with a house that's actually beyond your means.
Check My Eligibility →Browse listings by your location and budget, then arrange a physical viewing before deciding. Pay attention to the structural condition, surrounding area, and nearby amenities (schools, markets, work).
Explore Listings →Once you've found a house you like, make a price offer through the agent. If the seller agrees, you usually need to pay a booking fee (an initial deposit, typically 2-3% of the house price) to "lock" the house while the SPA is prepared.
After the booking fee is paid, apply for a home loan at the bank. The bank will conduct a valuation of the property to ensure the price is reasonable, and check your credit eligibility before approving the loan.
Calculate Monthly Installment →Once the loan is approved, a lawyer will prepare the SPA — a legal document binding the seller and buyer. The remaining deposit (usually up to 10%) is paid upon signing the SPA, within an agreed period (usually 14-21 days from booking).
Before the property officially becomes yours, Stamp Duty (Memorandum of Transfer) and legal fees need to be paid. The lawyer will handle the ownership transfer registration with the land office.
Calculate Total House Buying Cost →Once all processes are complete and the remaining payment is settled, the seller will hand over the keys. Do a final inspection (together with the agent) before accepting the keys to make sure everything is as agreed.
Don't do it alone.
This process involves a lot of documents and legal language — it's always safer and smoother when you have a LPPEH-registered real estate agent to help manage things from start to key handover.
Find an Agent & Listings Now*General guide only, not legal or financial advice. The actual process may vary slightly depending on property type, bank, and state.
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