Zhuoyuan Iskandar Sdn Bhd

Introduction to Sales Process

Zhuoyuan Iskandar Training Course

What a Sales Staff or an Agent needs to do when she/he close a sales ?????

Reserve Online

Booking

Apply for Loan

Follow up loan approval

Sign Bank’s Letter of Offer

Loan approval

Sign the loan agreement

Bank

Loan?

Sign the SPA

Case StudyMr. ABC is interested in our 3 bedrooms condominium. The build-up area is 1,475 square feet (137.02 m²). He has chosen level 33 as this unit has a beautiful Singapore panorama view especially at night. The SPA price for this unit is RM1,629,800

Unit No. A-33-02

Reserve Online

Booking

Apply for Loan

Follow up loan approval

Sign Bank’s Letter of Offer

Loan approval

Sign the loan agreement

Bank

Loan?

Sign the SPA

Online Reservation

Login into

www.zhuoyuaniskandar.my/portal.php

Reserve Unit No. A-33-02

www.zhuoyuaniskandar.my/portal.php

Click here

Reserve Online

Booking

Apply for Loan

Follow up loan approval

Sign Bank’s Letter of Offer

Loan approval

Sign the loan agreement

Bank

Loan?

Sign the SPA

Booking

A copy of sales formA copy of OTP (attach Appendix – package)Temporary receipt, if any

Original Sales Form duly signed by purchaserOriginal OTP duly signed by purchaserAppendix (package)A copy of NRIC or passportOriginal cheque or copy of credit card slip or copy of remittance slipTemporary receipt, if any

Customer

Sales Admin

Required Documents – Booking• Sales form

• Offer to purchaser (OTP)• with stakeholder (if collect RM10,000 as part of down

payment)• without stakeholder (if collect 10% of purchase price)

• Promotional package (Appendix)• A copy of NRIC (if Malaysian) or

A copy of Passport (if foreigner)

Method of Payment

• RM10,000 as part of down payment

• 10% of purchase price

• Cash

• Credit Card or Union Pay Card

• Cheque in Ringgit Malaysia

• Wire transfer or T/T

Issue Temporary Receipt

If payment by cash or

credit card

Checklist

Go through with the purchaser

to make sure that you have done

the full presentation /

explanation to the purchaser

Copies for Purchaser

1. A copy of sales form

2. A copy of OTP (attach Appendix –

package)

3. Temporary receipt, if any

What to tell purchaser???

• Pay the balance 1st 10% of purchase price within 14 days

• Sign of Sale & Purchase Agreement (SPA), Deed of Mutual Covenant (DMC) & Trust Deed (if more than 2 buyers) within 14 days

• Apply loan - brief the purchaser on our panel banks and bank packages, if purchaser intended to obtain financing from bank

• Cash buyer • State consent application (if foreigner)

How to handle the collection ?????

Cash bank into either UOB HDA Account No. 2213 0000 49 or CIMB Current Account No. 86 01522 629

Cheque bank into UOB HDA Account No. 2213 0000 49

Credit Card forward the credit card slip and settlement

E-mail Accounts Depart (e-mail: lipengfei@zhuoyuaniskandar.my) and forward the original copy to Johor Bahru’s main office in Medini within the same day or next day via courier or by hand

Documents for Sales Admin

i. Original Sales Form duly signed by purchaser

ii. Original OTP duly signed by purchaser

iii. Appendix (package)

iv. A copy of NRIC or passport

v. Original cheque or copy of credit card slip or copy of

remittance slip

vi. Temporary receipt, if any

Sales Admin Staff

In-Charge

Tower A – Liza (rosliza@zhuoyuaniskandar.my) Tower B – Eda (eda@zhuoyuaniskandar.my)

Developer’s Letter of Acceptance

Sales Admin Staff to issue

• Letter of Acceptance• Appendix – Package

to inform purchaser to sign SPA / DMC / Trust Deed (Joint Buyer) within 14 days.

c.c. SPA Lawyer & Sales Person

Reserve Online

Booking

Apply for Loan

Follow up loan approval

Sign Bank’s Letter of Offer

Loan approval

Sign the loan agreement

Bank

Loan?

Sign the SPA

Follow-upFollow up & monitoring Keep track of the due date or expiry date

• Signing of SPA• payment of balance 10%, if any

• Loan application – submission of loan documents

• Loan approval• Signing of loan agreement & other

relevant documents

Balance 10%

Pay within 14 days from

date of letter of

acceptance

Signing of Agreements

Sign SPA / DMC / Trust Deed

(if joint buyers) within 14 days

Make arrangement with the

SPA Lawyer

Reserve Online

Booking

Apply for Loan

Follow up loan approval

Sign Bank’s Letter of Offer

Loan approval

Sign the loan agreement

Bank

Loan?

Sign the SPA

LOAN ApplicationAdvise purchaser our panel banks and loan packages.

Assist purchaser to forward loan documents to bank if he/she is unable to do it.

Follow up with the loan officer for approval or any shortage of documents.

LOAN CALCULATOR

Loan Amount (RM)

640,000

Tenure (Months) 360

Current BLR (%) 6.60%

PBB Bank

Year Interest rate* Margin PointEffective interest

rate Instalment Period Factor Repayment p.a

1 BLR-2.20% 2.40% 4.20%

-RM3,129.7

1 360 12 -RM37,556.52

2 BLR-2.20% 2.40% 4.20% -RM3,129.71 348 12 -RM37,556.52

3 BLR-2.20% 2.40% 4.20% -RM3,129.71 336 12 -RM37,556.52

4 BLR-2.20% 2.40% 4.20% -RM3,129.71 324 12 -RM37,556.52

5 BLR-2.20% 2.40% 4.20% -RM3,129.71 312 12 -RM37,556.52

6 BLR-2.20% 2.40% 4.20% -RM3,129.71 300 12 -RM37,556.52

7 BLR-2.20% 2.40% 4.20% -RM3,129.71 288 12 -RM37,556.52

8 BLR-2.20% 2.40% 4.20% -RM3,129.71 276 12 -RM37,556.52

9 BLR-2.20% 2.40% 4.20% -RM3,129.71 264 12 -RM37,556.52

10 BLR-2.20% 2.40% 4.20% -RM3,129.71 252 12 -RM37,556.52

Thereafter BLR-2.20% 2.40% 4.20% -RM3,129.71 240 240 -RM751,130.38

Total Repayment -RM1,126,695.57

Total Interest payable -RM486,695.57

Margin Of Finance (MOF) Calculation:

Can only allow 80% of (Gross Salary x 81%)

e.g. Gross salary RM10,000 X 81% = RM8,100 (Net Salary)

So, can only get max 80% of RM8,100 = RM6,480 inclusive all other existing loan. If paying car loan RM1000, so this housing loan only allow up to max RM5,480 (installment amount).

RM 8,100 x 80% RM 6,480 Less: Car Loan RM 1,000

_________Max Instalment Amount Allow : RM 5,480

========

Note: Different bank may have different condition set. So, the MOF may be lower.

LOAN Approval

Once the loan is approved, get purchaser to sign bank’s letter of offer.

Make arrangement with the lawyer to prepare loan agreement for purchaser’s signing.

Bank’s Letter of Offer

Forward a copy to Sales Admin staff

Tower A – Liza (rosliza@zhuoyuaniskandar.my) Tower B – Eda (eda@zhuoyuaniskandar.my)

Other Payment - Pay to SPA Lawyer

If purchaser is a foreigner, he/she needs to pay

State consent fee is 2% of purchase price or RM20,000 whichever is higher

Legal & Disbursement fee of RM2,381 (single buyer) or RM2,389 (joint buyers)

Other Payment - Pay to Loan Lawyer

If purchaser applies loan, he/she needs to pay

Estimate stamp duty for loan facilities agreement of 0.5% on loan amount

e.g. 70% loan (RM1,140,860) is RM5,704

Schedule of PaymentStage 1 Immediately upon signing of SPA 10% RM 162,980Stage 2 Piling and foundation 10% RM 162,980Stage 3 Structural framework 15% RM 244, 470Stage 4 Walls, doors and windows frames 10% RM 162,980Stage 5 Roofing/ceiling, electrical wiring & plumbing 10% RM 162,980Stage 6 Internal plastering 5% RM 81,490Stage 7 External plastering 5% RM 81,490Stage 8 Sewerage works 5% RM 81,490Stage 9 Drains 5% RM 81,490Stage 10Roads 5% RM 81,490Stage 11Vacant possession (hand over house keys) 12.5% RM 203,725Stage 12 21 working days after vacant possession 2.5% RM 40,745Stage 138 months after vacant possession 2.5% RM 40,745Stage 1424 months after vacant possession 2.5% RM 40,745

_____ __________Total 100% RM1,629,800

==== ==========* Estimate Architect Certificate for stage 2 – piling and foundation will be out by Nov 2014** Due date for progressive billing – 21 working days

4 Scenarios

Malaysian – Cash Buyer

Malaysian – Bank Loan

Foreigner – Cash Buyer

Foreigner – Bank Loan

Malaysian – Cash Buyer(5% Rebate on Stage 2 & 5% Rebate on Stage 6)

Stage 1 Immediately upon signing of SPA 10% RM 162,980Stage 2 Piling and foundation 5% RM 81,490Stage 3 Structural framework 15% RM 244, 470Stage 4 Walls, doors and windows frames 10% RM 162,980Stage 5 Roofing/ceiling, electrical wiring & plumbing 10% RM 162,980Stage 6 Internal plastering 0% RM 0Stage 7 External plastering 5% RM 81,490Stage 8 Sewerage works 5% RM 81,490Stage 9 Drains 5% RM 81,490Stage 10Roads 5% RM 81,490Stage 11Vacant possession (hand over house keys) 12.5% RM 203,725Stage 12 21 working days after vacant possession 2.5% RM 40,745Stage 138 months after vacant possession 2.5% RM 40,745Stage 1424 months after vacant possession 2.5% RM 40,745

_____ __________Total 90% RM1,466,820

==== ==========

Purchaser Save: RM 162,980

Net Sale Price: RM 1,629,800 - RM 162,980 = RM 1,466,820

Malaysian – 80% Bank Loan(5% Rebate on Stage 2 & 5% Rebate on Stage 6)

Buyer’s Portion (20%) RM RM

Stage 1 Immediately upon signing SPA 10% 162,980Stage 2 Piling and foundation 10% 162,980

Less: 5% credit note -5% (81,490) 81,490________

244,470Add: Misc charges

0.5% stamp duty on loan amount (RM1,303,840) 6,519 6,519________

250,989

Stage 6 Internal plastering Less: 5% refund when received payment from bank -5% (81,490) (81,490)

____ ________ _________

Total Out of Pocket: 10% 169,499==== ========

Purchaser Save: RM 162,980

Net Sale Price: RM 1,629,800 - RM 162,980 = RM 1,466,820

Malaysian – 80% Bank LoanDifferential Sum

Differential sum means the amount between the purchase price and loan amount which purchaser needs to pay. RMPurchase Price 1,629,800Less: Loan Amount (80%) 1,303,840

________Differential Sum (20%) 325,960

========

How does purchaser pay his buyer’s portion?

Buyer’s Portion (20%) RM RM

Stage 1 Immediately upon signing SPA 10% 162,980Stage 2 Piling and foundation 10% 162,980

Less: 5% Rebate - Credit Note -5% (81,490) 81,490

____ ______ ________

Buyer’s Portion 15% 244,470==== ========

Foreign Buyer – Cash Buyer(5% Rebate on Stage 2 & 5% Rebate on Stage 6) RM

Stage 1 Immediately upon signing of SPA 10% 162,980Stage 2 Piling and foundation 5% 81,490Stage 3 Structural framework 15% 244, 470Stage 4 Walls, doors and windows frames 10% 162,980Stage 5 Roofing/ceiling, electrical wiring & plumbing 10% 162,980Stage 6 Internal plastering 0% 0Stage 7 External plastering 5% 81,490Stage 8 Sewerage works 5% 81,490Stage 9 Drains 5% 81,490Stage 10Roads 5% 81,490Stage 11Vacant possession (hand over house keys) 12.5% 203,725Stage 12 21 working days after vacant possession 2.5% 40,745Stage 138 months after vacant possession 2.5% 40,745Stage 1424 months after vacant possession 2.5% 40,745

_____ ________ 90%

1,466,820

Add: 2% State Consent Fee of Purchase Price (RM1,629,800) 32,596

Legal & disbursement fee for State Consent Application 2,398 34,994

______ _________Total Out of Pocket:

1,501,814

=======Purchaser Save: RM 162,980 Net Sale Price: RM 1,629,800 - RM 162,980 =

RM 1,466,820

Foreign Buyer – 70% Bank Loan(5% Rebate on Stage 2 & 5% Rebate on Stage 6)

Buyer’s Portion (30%) RM RM

Stage 1 Immediately upon signing of SPA 10% 162,980Stage 2 Piling and foundation 5% 81,490Stage 3 Structural framework 10% 162,980

_____ ________ 25% 407,450

Add: 0.5% Stamp Duty on Loan (RM1,140,860) 5,7042% State Consent Fee of Purchase Price (RM1,629,800)

32.596Legal & disbursement fee for State Consent Application 2,398

40,698_______ _________

448,148Stage 6 Internal plastering

Less: 5% refund when received payment from bank -5% (81,490) (81,490)

____ ________Total Out of Pocket: 20%

366,658====

========

Purchaser Save: RM 162,980Net Sale Price: RM 1,629,800 - RM 162,980 = RM 1,466,820

Foreign Buyer – 70% Bank LoanDifferential Sum

Differential sum means the amount between the purchase price and loan amount which purchaser needs to pay. RMPurchase Price 1,629,800Less: Loan Amount (70%) 1,140,860

________

Differential Sum (30%) 488,940========

How does purchaser pay his buyer’s portion?

Buyer’s Portion (30%) RM RM

Stage 1 Immediately upon signing of SPA 10% 162,980Stage 2 Piling and foundation 10% 162,980

Less: 5% Rebate-Credit Note -5% 81,490 81,490Stage 3 Structural framework 10% 162,980

____ _______

Buyer’s Portion 25% 407,450==== =======

Commission

Submit your commission claim when

1. 10% payment made2. SPA signed

3. Loan agreement signed (if cash buyer, letter from buyer to prove)

4. State consent approved

CommissionNet Price Calculation

RMPurchase Price 1,629,800Less: 5% Rebate 81,490

5% Rebate 81,4902% (Legal Fee + 32,596 Service

Charge) ________Net Price for Commission Claim 1,434,224

=======

Commission 0.5% x 1,434,224 = RM 7,171.12

Happy Selling !!!!!