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Investment SETAPAK GREEN RESIDENCES by UOA, Your Enclave for Refresh Living

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ngkf
post Oct 14 2010, 01:07 PM

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anyone here paid for the 10k earnest booking fee?
ngkf
post Oct 14 2010, 09:01 PM

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my understanding is that it is our offer to UOA thru the lawyer at the purchase price indicated in the said letter. UOA should only accept our offer purchase price as stated. If UOA wanted to raise the price/sq ft, that mean they are not accepting our offer price, but instead UOA is counter-offer us at revised price. In this case, we have to right not to accept.
ngkf
post Oct 14 2010, 11:04 PM

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oral representation by the sale rep is also a valid contract and form part of the contract although it might be on the weak side. It almost clear that every buyers signing up the letter were being informed by the sale rep that the deposit is refundable in any case before signing S&P.

I guess most major developers wont be very strict or wanted to forfeit your little money in the expense of their goodwill and reputation. Of course when it has a good take up rate. This is what I heard most other developers will normally refund that "booking fee"
ngkf
post Oct 18 2010, 05:19 PM

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it would be ease some traffic if the 2nd gate is open. may be they can set the open time, say from morning to 10pm something like that.


Added on October 18, 2010, 5:22 pmQuestion: Is it norm that nowadys banks do not bear or absorb legal fee & stamp duty on loan agreements?

I thought it is quite competitive for banks to secure housing mortgage. I used to have zero entry for bank loans.

Called one of SG bank panel, CIMB - loan arrangements btw UOA and banks not finalised yet. But it looks more like buyers will need to bear the legal fee & stamp duty on loan agreements.

This post has been edited by ngkf: Oct 18 2010, 05:22 PM
ngkf
post Oct 18 2010, 05:52 PM

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a week time after soft launch they take down the prices on the board, just like what 288 is doing. possibly increasing price base while still say giving 7% discount.

take up rate may go up after getting advertising permit and do mass advertisement.


Added on October 18, 2010, 5:54 pmat least 4 panel banks quoted by them - cimb, uoa, ambank, ??. Two Bank reps were present at the day of preview Oct 10.

This post has been edited by ngkf: Oct 18 2010, 05:54 PM
ngkf
post Oct 19 2010, 01:33 AM

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QUOTE(webby88 @ Oct 19 2010, 12:09 AM)
anyone knows if the prices are still the same as when the preview started?
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I tested one unit last sat and seems the same price still. with price not on the board now, uoa is free to adjust the prices at their will and based on take up rate secured.


Added on October 19, 2010, 1:38 am
QUOTE(hidden830726 @ Oct 19 2010, 01:00 AM)
personally, i think klcc view are overrated. mine below 10 floor


Added on October 19, 2010, 1:08 am

yup, the selling price in 288 S&P is the price before discount right? so selling price higher, therefore resell value going to be higher right?

SG, S&P price, = selling price - discount, is it better or no good compare Sg?

Or my above understanding is wrong?
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my view is, a discount/rebate outside S&P is quite common and mainly to enable buyer to secure higher margin of bank financing and minimise the downpayment needed from buyers. I dont think mark up the S&P price will help pushing the price as buyers value the house by market value / sq ft.

giving 288 is of higher price, rebate outside S&P will help buyers to folk out less money. UOA SG discount is net of S&P price. may be better corporate governance given uoa is a listed co in au? hmm.gif

This post has been edited by ngkf: Oct 19 2010, 01:38 AM
ngkf
post Oct 21 2010, 04:52 PM

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QUOTE(newkidontheblock @ Oct 21 2010, 10:39 AM)
Based on the all the comments seen here and from what I have understood from KP and UOA - I think both projects have their own merits.  I referring to 288 and SG, of course as their product is almost similar.  222 is a whole different kind of animal.

Let's take a look:
ITEM 1 - COMPANY REPUTATION
KP is a new developer - can trust?  Well, I doubt that KP is a hit and run company.  For their first few projects, they are keen to impress the public and develop some confidence in buyers.  So I think 288 can try.
UOA - established and reliable.  No 2nd guessing on whether they can perform.  SG can buy too.

ITEM 2 - LOCATION
Well, they are both in more or less the same place.  Sure certain views are blocked by either building - SG block 222/288 KL view and 222/288 block SG Genting view.  So choose your units wisely.
Road expansion?  Well, I have spoken to representatives of both developers and they seem very certain that it will be going ahead.  Sure once all the blocks are completed there may be a bottle-neck at this area, but at least these guys are doing their part to widen the road to ease the traffic.
Both wins.

ITEM 3 - PRODUCT : BUILDING
288 building facade is nice - judging from their artist's impressions, very stylish.  SG - definitely not as nice, but then again SG not launched, only preview. Sales staff said product still improving.  Cross fingers.
Dual access in SG?  UOA not sure as they mentioned is dependent on authority.  If got, then great!  KP - definitely 1 access only.
Open garden space in SG very nice.  Like small park.
288 no space for that - but nice facilities area - like hotel.

ITEM 4 - PRODUCT : UNITS
Living Room width given in 288 is larger than SG;
Bathrooms in SG better than 288 as majority is natural ventilated;
SG changed design so more ventilation at yard area - esp for air-con.  288 not sure where air-con compressor is placed;

ITEM 5 - PRICING
288 give kitchen cabinets and appliances (Electrolux some more!) is very good.  Helps the small families save money on renovation.  Technically buyer is paying for it, but at least its in the loan amount already so no need pay full lump sum like during renovation.
UOA don't have.  But give buyers the opportunity to create their own style.  I mean esp for larger units, buyers have a little more money and may like to design to their own taste, rather than stick to the standard kitchen design and colour.  I'm sure KP will give a contemporary kitchen design acceptable to most, but it is still standard.

SG give 2 car parks - a definitely plus point as for units with 3 bedrooms, 2 cp is minimum requirement. 
288 give 1 cp only.  So I guess money saved on not doing kitchen renovation will use for buying/renting extra car park.

This list can go on and on - comparing all pros and cons of both projects.  I have to say they both have their own merits, so it really boils down to personal preference and what each buyer looks for.
Me?  What did I buy?  Personally, I took up SG.  Why?
1.  2 cp important for me & wife
2.  I'm designer & like to cook so like design my own kitchen
3.  Thinking of start a family, so park is nice
4.  Friend bought UOA park residence, say design & specs ok

At first I was not sure about SG, cause during their preview, they kept changing design.  Poster one type, then easal stand got another.  Why?  If not ready don't launch lah.  Didn't seem very pro.
Later I thought - UOA is established company, I'm sure they are not so slip-shot.  Maybe this is their strategy.  Do a sneak preview, get feedback from customers, then amend design.  Sure, it's a little unconventional, but ultimately its for the better.  I look at their revised layout and it is definitely an improvement.  I like the big kitchen now.  smile.gif

In conclusion - buyers of 288 and SG are both winners.  REALLY REALLY depends on what is important for you.  For flippers, maybe can earn some extra cash, but my philosopy is buy something that you like to stay in.  If you like it, chances in selling or leasing it is higher, cause even you would like to stay there.

Good luck all!!
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A very nice review.
To me, the price differential btw 288 vs SG is enough for me to do renovation at SG.
You may feel the pain with only 1 car park. personal view
ngkf
post Nov 4 2010, 12:15 PM

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those with letter of offer from banks are safe now. some banks may still able to process 90% margin if you submit NOW. not sure is something to do with the submission cut-off.
ngkf
post Nov 13 2010, 05:56 PM

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QUOTE(webby88 @ Nov 13 2010, 01:40 PM)
Setapak Green design and facade is very traditional whereas 288 is very modern.  Setapak Green facade is more or less final.

Many people would agree with you that Setapak Green is selling at a new benchmark price and is considered very expensive in this vicinity.  With that, it is fair to expect quality finishes with good quality workmanship. Personally I think this is a fair expectation.

With the current BNM regulation of 70%LTV, some already pull out from the purchase.  Should the final specifications be lower than expected, I think many will withdraw their purchase/s.
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Good points. Let's see how things turn out along the way.
ngkf
post Dec 18 2010, 06:38 PM

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today went bangsarsouth, apparently no broucher yet, said in printing still. what they have is the finalised sale kit, but as usual, cant take away.

Already asking us to sign S&P b4 24 Dec, yet broucher not printed yet. Sale office dont even know which car park is allocated, may be only when u go and sign S&P, then lawyer will tell u.

wonder if UOA sincere in what they are doing? rush to sign S&P before end of 2010 when everything seem not perfectly ready? no tax benefit though for buyers to sign before 31.12.2010 as it is under DIBS. Under pressure to report good results from Australia?
ngkf
post Jan 20 2011, 10:45 AM

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QUOTE(Jacky^^ @ Jan 20 2011, 05:01 AM)
yup me 2.
my housing price Rm420K.

When lawyer ask for signing SPA, they charge bill me Rm380 legal fees.

when sign loan agreement need to pay another 6K charges.
Stamping fees + bla bla bla fees. >.<"

anyone willing to share their legal fees ?
or facing any problem ?
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Any discount on legal fee?
ngkf
post Feb 17 2011, 01:15 AM

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anyone can tell which bank offers flexi loan and no MRTA needed?
ngkf
post Jul 13 2011, 12:36 AM

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QUOTE(johnnycp @ Jul 12 2011, 09:27 PM)
Dear Dato, Datuk, dan Datin

May i know around how much it cost for the lawyer loan agreement?

Thanks.
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I paid 5k for a loan amount of 367k. Not much room of bargaining or negotiation as the legal panel are designated by developer. sad.gif

from buyer without dato/datuk/datin title biggrin.gif
ngkf
post Jul 19 2011, 11:57 PM

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Added on July 19, 2011, 11:15 pm

That time when I sign loan agreement, the lawyer auto deduct a few hundreds for me jor.... biggrin.gif


Added on July 19, 2011, 11:17 pm
Hi ngkf and johnnycp, when do you buy SG? For own stay one? smile.gif
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[/quote]

I think as allowed by BAR, around 30% discount is allowed to the fee schedule. May be by default the lawyer will charge based on the fee schedule.But normally there is a room for discount. Last time it was said the discount is "under table",but i heard some lawyers that 30% or 35% is "legally" allowed. If anyone heard the same.

For me, likely will for own stay - better size than currently staying.

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