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 1120 Park Avenue - PJ South, any comments?

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sk00
post Dec 14 2009, 04:48 PM

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Hi I was one of the buyer for this property Type M. Was very confuse on the 7.5% of the rebate. If the monthly loan amount is lesser than the 7.5% rebate of the property price, do i get back the 7.5% or do i get the loan amount rebate instead? Please help. Thanks
sk00
post Dec 14 2009, 05:14 PM

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QUOTE(graneon @ Dec 14 2009, 05:03 PM)
you get back 7.5% regardless of your loan amount.

My concern however is in the event the project is delayed, does the developer pays beyond the stipulated 4.5 years. Do we still entitle to ld if the project is delayed? What happened if subsale happens within 18 months? I have ask the SA about this but they are unable to give a firm answers. My advise is make sure you read the spa and other supplemental agreements before signing it. There may a lot of clause attached to it.
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Thanks for your info. I had ask the SA about the delayed stuff and i do get to know that you will get the delay penalty reimbursment. As for the 18 months, it will be after you get the VP. So no matter how long the project delayed, the 18 months will only commenced once we get the VP. Yes, we get to extend the 4.5 years if the project is delayed but if the completion is earlier, it will shorten the 4.5 yrs. sad.gif. Hope it helps
sk00
post Dec 22 2009, 11:37 AM

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QUOTE(aliciaqsp @ Dec 22 2009, 10:50 AM)
i have S&P with me, i requested from lawyer to let me take back one copy before i sign it.
i already scan it in pdf.

any one want it?
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pm-ed you. Thanks
sk00
post Dec 22 2009, 02:39 PM

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QUOTE(king4891 @ Dec 22 2009, 02:30 PM)
The SA told me must get rejected letter from 2 banks for RM1500 refund. RM500 forfeited for sure. Seem like different SA tell different story....
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SA told me if loan rejected, will only forfeited RM200 for admin fees and SA did not mention that need at least 2 loan rejected ..Seems like SA told us different thing
sk00
post Dec 22 2009, 04:51 PM

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QUOTE(aliciaqsp @ Dec 22 2009, 04:11 PM)
hi all, so paiseh that i jus found tat the S & P version i attached previously got many pages hilang. tongue.gif

complete doc here.
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Thanks for the S&P shared. Do you have the seperated document from developer stating the benefit of 7.5% reimbursement.
sk00
post Dec 22 2009, 06:08 PM

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QUOTE(aliciaqsp @ Dec 22 2009, 05:57 PM)
hi, HLB banker told me that, ->got news that they just got the EF and joined as a panel banker.

btw, i dunt know wat is EF la..
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Can you give me the contact of the HLB banker?
sk00
post Dec 23 2009, 10:10 AM

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QUOTE(20yrsinsrisentosa @ Dec 22 2009, 06:50 PM)
may i know the reason some of you interested to HLB? i dunno and would like to know the reason only, not other meaning.


Added on December 22, 2009, 6:52 pm

cimb told me over quota, need to wait. sc haven't approve me when i called yesterday but their sa told me is -1.85%. just came back from uob, uob offered -1.85% too. uob sa told me cimb was over quota too, additional they said oversea bank is diff, no quota.
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The reason why i am interested in HLB is to apply and see what benefit they can give extra..Each bank offer their benefit differently smile.gif
sk00
post Dec 30 2009, 05:18 PM

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QUOTE(gstrapinuse @ Dec 30 2009, 03:22 PM)
Yes, very very slow & they dont even wanna get back to u..whether approved or fail they dont even wanna entertain...very bad customer service..
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Yes totally agreed on that. OCBC not only slow, they never keep their promise as well. promise to call me back but never call me back at all. very very bad customer service. will never deal with this bank anymore.
sk00
post Dec 30 2009, 07:53 PM

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QUOTE(brianchinh @ Dec 30 2009, 06:35 PM)
I got a call from developer this morning saying that my booking RM2k transaction through credit card is not through. They asked me to come and pay the RM2k by cash or cheque. I've called up my credit card bank but they said they did not cancel/reject the transaction. In fact, they did not received such a transaction actually. So I called the developer again and another lady picked up and said will ask the PIC to call me back but they didn't.
Is this something fishy? Anyone have similiar situation like me?
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i got the same call and he told me that my booking of RM2k transaction through credit card is not through. i haven't check with my bank though.
sk00
post Dec 31 2009, 09:34 PM

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QUOTE(brianchinh @ Dec 31 2009, 09:28 PM)
I've been to the sales office today and was told by SA that many using America Express card will not through. However I was using Citibank card not AE. Also there was a list of about 20 ppl of those credit card payment did not get through.
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Oh no wonder. why the SA never stop customer when they use AE to pay for the booking.. rclxub.gif
sk00
post Jan 4 2010, 04:44 PM

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Even though i am 1 of the buyer of 1120 Park avenue, i have few concern as i am not very familiar with KL/Selangor location. Please enlighten me on this

1. I have go around the place but i found that currently the occupancy for the shophouse is less. What is the reason for the less occupancy.

2. What is the race population on the place? It is a mix race majority population?

Hope to have more clarification on the area as some of the forum state 1120 park avenue is located in a strategic place.

sk00
post Jan 4 2010, 05:30 PM

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QUOTE(king4891 @ Jan 4 2010, 04:56 PM)
My own opinion on the area:

1) Think back 15 years ago on OUG houses. The shophouse occupancy rate also low. 5 years back, OUG was bombing. After the completion of the highway and the OKR. A lot of new property kick off there including 1120PA. Petaling Utama is consist of low to medium class residents. After 1120PA occupied, I believe the shophouse there will be improve. Of course, Peter's will not miss the opportunity for up coming higher class development if 1120PA are successfully sold.
Do agree with that but when i go around that area, i don't see any opportunity for Peter to develop anymore on that area since there is no more land to do so. What i hope is that the shophouse will get more occupancy after 1120PA and the hypermarket build as promise and i believe that is the only method that can push up PJS value. Welcome more comment on this since i am quite noob on PJS area.
sk00
post Jan 4 2010, 05:35 PM

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QUOTE(cheraspeople @ Jan 4 2010, 05:31 PM)


Added on January 4, 2010, 5:32 pm

which hypermarket?
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Is just opposite 1120PA as what the SA told me. I have double confirm and look around that area as well and i saw the notice board stating on the proposal to build a hypermarket over there. I assume this hypermarket is belong to Peter as well.
sk00
post Jan 5 2010, 02:18 PM

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QUOTE(KChan @ Jan 5 2010, 01:49 PM)
Among the five banks, which bank doesnt need MRTA? I do not intend to take any as I'm still single without dependant. If touch wood anything happen, they can well just auction off to recover any money lar.

Another question is, if somehow 4 or 5 years from now and I have dependant, then can I apply MRTA for the existing loan?
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The MRTA can be opted out no matter what bank you take. You just need to request not to have the MRTA.
sk00
post Jan 5 2010, 02:58 PM

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QUOTE(kornflake @ Jan 5 2010, 02:47 PM)
seems like most people took uob loan...
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cause out of 5 bank, CIMB already out due to quota finish. OCBC, PBB is quite slow in processing application while SC rate is not good.
sk00
post Jan 5 2010, 06:26 PM

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QUOTE(iceanise @ Jan 5 2010, 06:19 PM)
erm...but they quote it there...dangerous....if they ever charge also...u cannot bite them! betul tak? because it's black and white stated there.
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The clause stated that if you have current account that tied to the loan only then you will be charged for maintaining that acc. Since this is not full-flexi, we don't need current account.
sk00
post Jan 6 2010, 12:14 AM

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QUOTE(EVA01 @ Jan 5 2010, 11:39 PM)
SA? U mean u take loan from the Peter guy?

Prepayment will reduce principal....that correct...once the bonding period end.

Take UOB example...

first 5 year, is bonding period....you pay...will not reduce principal...if u want to reduce...1 month notice and full settlement (pay all) and get charge 3% prepayment fee.

After 5 year, you can start reduce principal by giving write up notice (fax/call/etc) to bank 1 month earlier and you can pay whatever u want to cut principal.

Get it?

A bo you think Bank earn what? If you finish pay within 3 year....few hundred buck from u? after lending you so much money?
Are you sure about that? From what i know, the principal can be reduced even during 5 year tenure but the principal cannot be reduce until there is none to pay in this 5 year bonding period. For the RM50, i hav ask the bank officer and it will only impose if you want to withdraw whatever extra money that you put in to cover the principal. Thus if you withdraw, the principal will increase back on the same day and interest will be based on the increased principal. Correct me if i am wrong.

sk00
post Jan 6 2010, 12:45 AM

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QUOTE(estherlo @ Jan 6 2010, 12:24 AM)
U have misinterpreted the clause. Full prepayment is after the bonding period. Less than 50% is allowable and could reduce the principal.
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Agreed with estherlo. i think eva01 is confuse on the money disbursement. If the bank haven't fully paid to the developer ) as developer will progressively collect money from bank based on the building progress, yes we can't even reduce the principal since the money have not fully disburse by the bank to the developer. Then the clause C(i) will come in (AFTER full disbursement).

After the money is fully release, we can reduce the principal even during the 5 yrs bonding period but we can't reduce until less than 50% of the total loan (clause C(i)(3))

After 5 yrs, you can do whatever you want. You can either stick to the loan, settle in full with 1 month notice or remortgage your property with other bank without penalty imposed.


sk00
post Jan 6 2010, 10:39 PM

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QUOTE(iceanise @ Jan 6 2010, 09:08 PM)
i called the lawyer, she confirm hlb is panel jor
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Hmm..abit risky because in the promotion letter there is this clause stated that if you did not take loan with their panel, they can forfeit the benefit that they offer to u.
sk00
post Jan 9 2010, 10:41 PM

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[quote=raymond2451,Jan 8 2010, 10:49 PM]
[quote=AbangCorp,Jan 8 2010, 07:19 PM]
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-XX-XX (S unit nr 2, 3, 4, 5, 6, 11, 12, 13)
16 – sk00 pg 4 post 76 (m unit nr 7, 8, 9, 10)
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 – lim nod.gif wc78 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 -
may i know how many of you buying this property for investment or own stay?
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[/quote]

Abang Corp, can you add my unit in it. B3-XX-08. Thanks. Anyway i am buying for own stay. How bout you guyz?

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