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In practice, you can avoid paying compensation to the seller and still retain the right of withdrawal. This requires that a reservation on adviser approval, also known as a lawyer’s reservation or adviser’s reservation, be added to the purchase agreement.

The proviso means that if the adviser is unable to approve the transaction in its entirety, the transaction will lapse without you having to pay compensation. There will usually be a shorter deadline for the lawyer or adviser’s feedback, typically approx. 3-5 days. If the lawyer or adviser has not objected to the purchase agreement before the deadline, the buyer will be bound by the agreement with the current wording.  For buying Puchong Jaya house for sale you can choose it all, compared to Pandan Indah KL.

The Smart Use of the Buyer

If you as a buyer find serious faults and defects in the property after the takeover, you can cancel the transaction if the defect is significant (i.e. the repair of the defect amounts to approximately 40-50 percent of the purchase price). 

You can also claim compensation if it can be proved that the seller has concealed information or should have provided information about important matters, or demand a proportionate refusal. If you find serious faults and defects in the home, which are not due to wear and tear and the type of house, and which the seller could not have had knowledge of at the time of purchase, you are covered by the change of ownership insurance when buying a house.

Insurance: What are important to have – and what do they cover?

Once you have purchased your home and need to take it into use, consider how you want to insure it and your belongings.

Home contents insurance:

If you have bought an apartment (share or owner), your insurance needs are covered with contents insurance. It covers almost everything that falls out of the house or apartment if you could pick it up and turn it upside down. It’s everything from your bike to your furniture and various electronic devices. 

If you have particularly valuable items such as expensive jewelry, hunting weapons, musical instruments, professional photo equipment, custom-built racing bikes or other items, you may need to insure these items particularly well. 

Damage to the property itself will be covered by the cooperative or owners’ association’s business insurance for the entire property. Damage as a result of pests, rot, fire, storm, etc. will be covered by the cooperative or owners’ association’s business insurance for the entire property.

Home insurance:

If you have bought a house, you should have home insurance that covers damage such as fire, water damage, storm damage, broken glass and basin, fungal, insect and rot damage, damage due to rodents, vandalism, etc.

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Rachel Dunn