The delivery of VP for a primary property depends on the house type. Stamp Duty Exemption for First Time House Buyers from 1 January 2021 to 31 December 2025.
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Most of the time the developer will absorb the legal fee for the Sale and Purchase Agreement.
. In simple terms the delivery of VP means the bare house and any other fittings and furnishings listed in the Sale and Purchase Agreement SPA are given to the home buyer upon completion of the home purchase transaction. Under the Housing Development Control and Licensing. Under Budget 2021 first-time house buyers for residential properties in both the primary and secondary markets valued under RM500000 will receive the full stamp duty exemption on the memorandum of transfer documents MOT and loan agreements.
When initially you purchase the property from a developer you dont require to pay legal fees and stamp duty. One thing that most people dont aware of when buying an under-construction property is the Memorandum of Transfer MOT cost comes later.
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