Arranging Property Surveys for Sellers in Malaysia

Understanding Property Surveys in Malaysia

In Malaysia, property surveys are crucial for sellers who want to ensure a transparent and smooth transaction. A property survey is a detailed inspection of a property’s condition and boundaries. It aims to highlight any structural problems, potential legal issues or land disputes which could affect the sale of the property. In Malaysia, registered surveyors under the Land Surveyors Board Malaysia carry out these surveys in accordance with national standards and regulations.

Types of Property Surveys Offered

When arranging property surveys for sellers in Malaysia, there are several types to consider. The common ones include:

• Boundary Surveys: These are conducted to identify the precise boundaries of the property using land titles and other documents.
• Topographic Surveys: These surveys map the property’s topography – the natural and manmade features, which is particularly important if the land is being prepared for development.
• Structural Surveys: Focused on the building itself, these surveys examine the integrity and condition of the structure and identify any significant repairs that may be required.
• Condition Surveys: Often less thorough than a structural survey, these assess the general condition and recommend maintenance.

Choosing the Right Surveyor

Selecting a competent surveyor is pivotal for accurate property surveys for sellers in Malaysia. Sellers should seek out surveyors who are registered with the Land Surveyors Board Malaysia, as this ensures that they are qualified and adhere to professional standards. They can consult the Board’s website for a list of licensed surveyors or ask for recommendations from real estate professionals.

Preparing for the Survey

Sellers should prepare the property before the survey takes place, ensuring that all areas are accessible and that any relevant documents, such as property titles or previous survey reports, are available. It can be helpful to fix minor issues, such as leaks or electrical faults, as these could be red flags during the survey.

Legal and Regulatory Considerations

In Malaysia, property surveys are often governed by legal and regulatory frameworks. These frameworks dictate how surveys should be conducted, the qualifications of surveyors, and the handling of issues discovered during surveys. Sellers should ensure that their surveyor is up to date with these requirements, including understanding any local council regulations that could affect the sale.

Costs and Timeframes

The cost of property surveys for sellers in Malaysia can vary based on the property’s size, location, and the type of survey needed. It’s crucial to get a quote from the surveyor beforehand and understand the deliverables. Timeframes can also vary, so sellers should factor this into their sale timelines. Waiting for results can impact property listing dates, so it’s advisable to arrange surveys early in the sale process.

Interpreting Survey Results

Once the property survey is completed, sellers need to carefully review and understand the results. It is advisable to discuss any significant issues highlighted in the survey with the surveyor to understand their impact on the property’s value and saleability. Addressing any problems upfront can help mitigate any potential negotiation issues with buyers later on.

Leveraging Survey Reports in Sales Negotiations

A comprehensive survey report can serve as a tool for transparency in sales negotiations. By proactively providing potential buyers with the survey results, sellers can foster trust and demonstrate that they have taken due diligence seriously. In some instances, this can help justify the asking price or provide a strong foundation for negotiating terms.

According to the Valuation and Property Services Department’s (JPPH) report, as of the latest data, residential property transactions in Malaysia accounted for 64.3% of total property transactions. This underscores the prevalence of such investments and the importance of property surveys for sellers in Malaysia to ensure these transactions are supported by accurate property valuations and assessments.