I don't think Peter is so rich that can wait till completion then only claim for the money. Bear in mind that Peter is just a small developer. 

It is a norm that developer bear interest during under con to attract more customers. In my opinion, it is unlikely that 1st disbursement is equal to full disbursement.

so, kawan-kawan, please take note of this lor....sc bonding period is 5 years from signing of letter of offer but the drawback is it's monthly rest.

whereas, for other, they quoted 1st disbursement, bonding is also 5 years - just that we dunno whether 1st disbursement is equal to full disbursement.

if it equate, might as well take pbb which offer blr - 1.9? betul tak? me also still comparing between uob and pbb.

pbb come back to me quite fast, only take about 4 days

sc also come back to me quite fast, i think they can let me know within 2 days

uob is around 4 days

cimb no reply at all....sleeping jor

ocbc, that alex, is extremely slow and like to lie....said submitted my doc but actually didnt, i call and ask another fren of mine who's working in ocbc....

then i think i will sign pbb liao

done pg 30

Dear all,

To resolve the doubt of first disbursement = full disbursement:

For under construstion property, the way that bank releases money to the developer is according to the progress of construction stated in the 3rd schedule in s&p. First disbursement starts when the day that the bank pay the first payment to the developer. IF u r financing 90% loan, after the 10% downpayment, when the bank releases the following 10% to the developer, it starts the first disbursement date. Thus, lock in period starts from full disbursement is a disadvantage to investor who intends to sell the property after completion. coz by the time bank fully disburse to the developer could be in 3 yrs later, by then ur total lock in period will be 8 yrs. Unless u willing to pay the penalty charged.

Completed property has no progressive payment like the under con property does, so the first disbursement will be the full amount of ur loan financed. Thus, first disbursement also equal to full disbursement.

Regarding loan offers, guess below are the things that u may need to put into consideration:

- interest rate, of course (however every bank almost offers the same rate. a minor 0.05% makes no different if u r taking flexible loan or the bank loan allows u to do prepayment to offset loan principal)
- lock in period especially for investor. (thus personally i think pbb is not good for investor unless u foresee the property wont sell in 8 yrs time)
- service. u never know when it comes to disbursement. some banks tend to delay in payment. If the bank late in releasing money to the developers, not dev but u r the one who bear the late payment charges. (personally im willing to pay slightly higher interest for a better service)
- Hidden cost. fyi, pbb has a lot of charges like rm 75 land search and blah blah blah.
- forget about interest rate change to BLR plus 2% or 3% for the default payment unless u really think that u hv such potential in defaulting ur installment. THis is standard clause la.. every bank applies.
- Loan tenure in fact, the longer the better coz eventually u may do prepayment to save interest while lower down ur monthly commitment. It helps in ur next loan approval.
- withdrawal flexibility and charges unless u really utilize the facility (eg. pump in ur salary to reduce interest) especially for those business owner, otherwise dun worry abt the withdrawal charges la...
- daily rest/month rest it makes a lot of different

Abt MRTA/MLTA.. whether its mrta or mlta or mtta or mdta or wutever a... it's all life insurance but describe in different terms only. All insured the same things, death and total permanent disability. Wut we concern is on the surrender value and the beneficiary. If u were to take mrta from the bank, of course bank will be the beneficiary coz ur property is their security. If any happen to u, insurance institute helps u to pay for the loan. Bank wont care abt u but the money. and its not transferrable if u refinance the property coz by tat time the property is no longer their colletaral security, who cares if u need to purchase a new policy with higher premium. For those who can affort, mlta really better than mrta.

Talking abt the HLB issue. There is no surprise if the law firm claims that hong leong is one of their panel coz this means that particular law firm can prepare loan agreement for hong leong bank. But whether or not Hong leong acts as the end financial (panel banks) for this project, that is another story. Hong leong can be the law firm panel but not necessary to be 1120 PA's panel bank. If it's not under the end financial listing, u may not enjoy the promotion!
Thanks

if fail to do so, any damage ah???nt entitled for 7.5% bonus or interest charge there???

I wrote:

But what I heard is, the Phase 2 price is around 10% to 15% higher than Phase 1, or around 10k to 15k above the Phase 1 selling price.

Because, I heard from Ms Choo, it is 10k to 15k above Phase 1 price, and I heard another story from bankers and lawyer, it is 10% to 15% higher...No one will know how much the exact price will increase until the day of launch la friend, except who has close relationship with developer or may be their staff. I just letting everyone know what I heard.

Definitely 10% and 10k is a BIG difference, but I wrote down there, "OR"... so, either one lor! not "AND"...

And to make it clear, developer did not tell me! I just have borak2 kosong with the staff while placing my deposit. So, at least, we have rough idea, how the Phase 2 is positioned in the market, and how the prospect of future price of this property. To know the truth, or to know the exact figure, just wait for the launch lar, it is few days to go wat!

King, my same floor neighbor, same L type...1 floor onli gt 2 unit L type....so u knw i knw la...hahaha

going to pay my 10% deposit on mon...then sit there relax, wait for condo ready by 2013!!!...2 yrs 11 months and 22 days to go....hahaha

10am cannot lo...i going over around 2-3pm....so i c u after 3 yrs when move in la!!!

1120 park avenue

i wonder what malay name should it be 

Ur opinion can b good info,but sometime giving too much of opinion is not so good.it may hurt the purchaser of 1120.i`m not showing any offence here.hehe

they reli like ganster style dar? how?

you dont wanna buy, i buy

but i agree, honest ppl are very hard to find
especially business man

they dont tell. and will even hide it.

2nd phase launching this Friday(15/1) + 15%-20% up!!!

Wah, the price become so steep ar? Still a worth buy or not?

SOS???

SOS = Source for tat rumous saying Phase II price gonna + 15%-20% up!!!

yes, dun jus simply taruh la...show me ur prove...like tat i oso can said...

PHASE II price going to increase by 100-200% due to super hot demand!!!

well, no need to argue here oso can...jsu drop by tis wkend n check it out lol

Hi there, i got a lot in Tower 2 to let go. so far i js paid up the booking fees. Anyone interested?

yeah.. that's wat i heard, but not from the sales office. so if those really wana buy it, then mayb u can sign the S&P together with the 10% downpayment by this week.

Lets make sure our condo finished on time

1 – graneon pg 1 post 16
2 – legolas pg 1 post 19 B3-XX-XX (facing west)
3 – 0106127 pg 2 post 22
4 – ethan99’s friend pg 2 post 23
5 – ethan99 pg 2 post 26 B1-XX-XX
6 – ausmat pg 2 post 31 B1-XX-XX
7 – borebby pg 3 post 46
8 – cheraspeople pg 3 post 48
9 – limyusiong pg 3 post 54 B1-09-XX (L unit nr 1, 14)
10 – gstrapinuse pg 3 post 57
11 – legolas’s friend 01 pg 3 post 58 B3-15-XX
12 – legolas’s friend 02 pg 3 post 58 B3-16-XX
13 – colt45 pg 4 post 61
14 – aliciaqsp pg 4 post 69 B1-12-06 (s2)
15 – klkow pg 4 post 70 B3-11-13 (S unit)
16 – sk00 pg 4 post 76 B3-XX-08 (m)
17 – iceanise pg 5 post 81 (m unit nr 7, 8, 9, 10, facing east)
18 – sarsi00 pg 5 post 87 BX-11-XX (l unit nr 1, 14)
19 – trextan pg 5 post 90 B3-XX-XX (plan to release unit)
20 – juneodue pg 6 post 107 (plan to release unit)
21 – dxt pg 6 post 118 B1-07-08 (m)
22 – brianchinh pg 7 post 123 B1-04-07 (m)
23 – limwc78 pg 7 post 133
24 – 20yrsinsrisentosa pg 7 post 135
25 – misnail pg 8 post 148
26 – cambede pg 8 post 152 B3-14-XX (s unit nr 2, 3, 4, 5, 6, 11, 12, 13) released
27 – mzmz --> abangcorp pg 10 post 190 B1-15-02 (s)
28 - estherlo pg 13 post 250 (assumption)
29 - raymond2451 pg 14 post 263 (M unit nr 7, 8, 9, 10)
30 - king4891 pg 14 post 264 B3-09-13A (L)
31 - ntick pg 14 post 279 B3-XX-XX
32 - ntick's sister pg 14 post 279 B3-XX-XX
33 - fiecks84 pg 15 post 295 B1-0X-09 (M)
34 - oucheev pg 19 post 375 (assumption)
35 - kornflake pg 19 post 380 (assumption)
36 - nmt170 pg 20 post 383
37 - EVA01 pg 31 post 606 BX-XX-11
38 - alexlean pg 33 post 658 B1-xx-02
39 - chris lee pg 34 post 665 B1-XX-13A
40 - KChan pg 21 post 412
41 - oucheev pg 21 post 419
42 - Nee2010 pg 22 post 439 (plan to release, type l)
43 -
i manage to collect up to page 20 of this thread
will do again once have courage

taken from somebody post

Phase 1 should be no more than 476 units based on the calculation 17x14x2=476 (lower grounds have less than 14 units per floor). And Phase 1 & 2 in total are 1120 units. That's where the name 1120 Park Avenue comes from

39 / 470 = 0.0829 * 100% = 8.30% 1120 pa buyer are lowyat member
number is increasing

if your name is not there, pls bring your ic to me for verification 

SA don't need to speculate la. They should already knew it. Don't know why so secretive.