zhuoyuan iskandar training course what a sales staff or an agent needs to do when she/he close a...
TRANSCRIPT
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
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: [email protected]) 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
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 ([email protected]) Tower B – Eda ([email protected])
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 !!!!!