Propwall.my’s Agent Day well attended by real estate agents and negotiators.

Propwall.my invites reputable speakers to its Agent Day.

A recently concluded real estate agent seminar held at Menara Star gave a crowd of real estate agents and negotiators valuable insights on property-related topics.

The event organised by Propwall.my and StarProperty.my hosted two reputable speakers, SMART Financing CEO Gary Chua, and advocate and solicitor Ivan Chan.

Chua shared the top 10 reasons why mortgage application may be rejected in 2015 and some quick tips on how to overcome it under “Secrets of Successful Home Loan Application”.

“It is important for real estate agents to know the reasons behind why mortgage loan application can be denied so they can advise their clients accordingly. Some of the main reasons are ineligibility, terms of employment, income documentations, application score and credit score,” explained Chua.

The number one reason that a loan application gets rejected is because the applicant does not meet the minimum age and/or income requirement.

“Majority of the banks in Malaysia set the minimum age at 21 years old with minimum monthly income of RM2,000. This is one of the main factors that banks will consider to see whether an applicant is eligible or not, so be sure to check the minimum requirements before applying,” advised Chua.

Banks are very meticulous when it comes to approving loan application so it is wise to survey several banks before applying. According to Chua, some banks offer different interest rates and requirements so if one bank rejects an application, it doesn’t mean that other banks will too.

“In addition to providing sufficient income documentations and filling forms with correct information, applicants must also have a good credit history. Thus, it is always best to pay credit card balance or other loans on time,” Chua added.

Real estate agents and negotiators were given an in-depth explanation on what they should be wary of when dealing with land titles from the second talk on “Matters Relating to Land Titles and Property Ownership” by Chan, who is also a partner at Messrs Amir Toh Francis & Partners.

Chan explained that agents should be able to guide their clients with the substantial details on land titles as it is important in the process of transferring land titles from the seller’s name to the buyer’s name.

“Besides knowing if a property is on a leasehold or a freehold land, buyers must also pay close attention to the expressed condition stated on titles to make sure that details on title match with property transacted,” Chan said.

Propwall.my Agent Day aims to help agents to be successful, and for Propwall.my to become a true partner of the real estate industry and ecosystem.

“Agents should lookout for our monthly event as we will continue to bring in great speakers to share beneficial insights on real estate sector. We are also planning to have a session in Chinese soon,” said Propwall.my general manager Ernest Towle.