Err. Actually only 3 times. The last visit was 2 days ago, Friday noon.

Based on the sticker board, yes it was 95% sold.

Tower 1 and 2, almost 99% sold. Left few units ( not more than 7) at Grd Floor to 1st Flr.

Tower 3. Left ard 15 units. Majority Grd Flr/1st Flr units and T3-15/16/17/18/19/20/21/22-01 were all available plus several units (3-4 units) at level 28-29.

Overall, not more than 30 units left.

Omg.

Which of Alliance, Ambank and UOB?

I think only 3 above offering DIBS.

But I never hear yet, Alliance hold the loan status due to this 7% issue.

If this is the issue，sure a lot cancellation happen.

Looks like a serious issue ... But, as a formal approval, if the project is with 7% discount price and too hot in the market, bank will approve the end financing base on discounted price, some bans, might tutup mata if they keen for more business, they only try to avoid those small projects or lower price projects ( below 400k ) with 10% discount ...

Bcz at zero downpayment with such pricing to get a property, the NPL risk is very very very, super high. Those big developers and high end property with 2-5% discount, normally, not included into the huge advertisement ....

However, for KR2, they only advertise that the 7% discount is only entitle for the first 100 purchasers ... so i suggest it's not a problem ...

I try to find out and update here then ...

I received 2 story.

Story 1
I also was told that UOB Bank hold the approval due to the management found out the 7% discount is applicable to all units, and not only FIRST 100 units. So, they are revising the end financing approval margin of 90%

Story 2
I was told that, both end financing had been obtained and confirmed by banks, but due to it was DIBS scheme, and developer to ensure no competition btw all participant banks, the condition btw banks and developer must be agree before the package is formally approve.

Both Alliance Bank and UOB Bank had approved DIBS package with 90% financing ( so far, nothing happen regarding the 7% discount ) and now, pending developer to accept the bank's offer by sign the End Financing DIBS Condition Letter Offer.

I not sure when UOB Bank formal approval can be out.

But Alliance Bank, could probably by next week.


So, i suggest please refer to Story 2.

As, the S&P only could sign earliest by July 2012, we shall wait and see what happen.

Yeah, thats why i said, since already made a booking , dont worry first ... the unit is still there ...

Wait the developer solve the issue and only seek for the loan application ...

Anyway, if i got any information, i will post into here ...

UOB banker got indicate whether can appeal to 90%?

Then try Alliance and Ambank. Don't worry bro.

Bank Letter Offer only valid for one to two months. For two ( or three ) months onwards, the banker need to reinstate the letter offer validity by seeking Credit Approval. Means it might be rejected and you need to resubmit a whole updated income doc in order for banks.

Ex. Your submit the loan application at Jan and only aproved now, means LO date March 2012. If after 1 1/2 months, say May, you wanted to sign the LO. Banker need to reinstate the LO. Most banks should be no problem. But there is one risk where banks would requested a new application due to Income Doc provided was during January which was 4-5 months back, then the Credit Approval would not agree to extend the LO. Hence, pls resubmit new application.

While, some banks do have pre-approve loan, Alliance Bank has and UOB no. They can do a pre approve loan without booking receipt or certain property details. But to get approval first and then wait S&P signing time only to release LO, is no such things. Unless the S&P signing is within 2 weeks short period. The banker can hold the LO issuance and trying to KIV by amendment some package or etc and then re seek for approval without changes.

Hope it's clarifies you all.

---

Added on March 9, 2012, 12:16 amTo finalize a S&P is just very quick. They unable to do so bcz they are yet to obtain the AP & DL and also they just finalize their agreement of DIBS package with several banks like Alliance Bank, UOB and Ambank.

And yes, Alliance Bank just finalise their loan package but they waiting the developer to pen to the LO but they had verbally agreed to it. You can starts to apply soon.

(=



This post has been edited by Chris Chew: Mar 9 2012, 12:16 AM

So far not worry much bcz yet to construct and unable to clearly see how low is it.
However, most probably all condos with LG or basement parking will have similar worries.

Yes. It is 4 storey so-called basement parking. Basement 1-4 is parking. Facilities area is located at Basement 4.

Then High ceiling level of Ground Floor is the Main Ground Floor equal to entrance, Guard House, Lift Lobby and Private Residence Lobby as well as Drop Off Point.

Then Level 1-30 is Residence.

Then Roof Top level is Sky Garden level.



From it's scalemodel ... I do not worry for it's basement parking quite much. Bcz it is quite open area although the huge area of low ground as well as other nearest condo like The Rainz, KR1 and ZR.

The Basement Parking 1-4 is open level where you can see from outside condo and you can see cars are turning here and there. If not mistaken, if you walking towards LRT station,

The Basement 4 would be the ground you walking and the condo's Ground Floor would be at about 4 storey higher.
( Perhaps I need to re-visit for further homework )

I would be very worry, if the Basement parking is located at much Lower Level Ground floors where we cant even look from outside. And the water of rain would flow from the entry / exit point.

However, it's totally different with the USJ One Avenue.

Haha. Just study and analysis with my little knowledge of the project only.

I went to sales gallery 3 times and only look at the scale model while round the site one two times only.

The info fr Internet and brochure is really too less. Gotta ask the developer a lot.

Hmm. Basement 1, not sure. Better get the car at high basement like basement 4, just go down one round from Guard House or main entrance. High enough no need worry flood. Lol.

Anyway really has no idea how they allocate the parking again but it's good that all units are with side by side parking, not tandem.

Agree that let's discuss this after completion.

As far as concerned, I am not quite worry about this.

Yo. Orang Kerusi MGG. Sapu how many units?

It's Alliance Bank Puchong Jaya branch.

You want a young girl or a manager to contact you?

Hehe.

EF means End Financing.

EF approved by bank means the project of KR2 had been successfully emplaced into the bank as their panel after checking and analysing their project details, pricing as well as developer profile to determine how much budget / limit of EF ( say RM 20mil or RM 40mil ) funded for this project, max margin offer, DIBS or no as well as pricing of interest rate.

---

Added on March 13, 2012, 3:05 pmNear not good meh?

Hmm, then which branch you want?

Got Puchong, Cheras, USJ and Mid Valley.

Eating porridge also can buy so much properties, salute. Then tonight onwards, i also want to eat more porridge dy....

=))


This post has been edited by Chris Chew: Mar 13 2012, 03:05 PM

Orang Kerusi?

Dont play play la, I not up to it yet. A lot of other informations, perhaps I really don't know yet, and need to learn and get more from buyers or Bkt Jalil tai kors here.

Haha. I tembak only.

There are much many more with superb knowledge in property but diam diam only.

Crouching tiger, Hidden dragon.

Guys, I also being informed that UOB is only considering 90% of after discounted price. This make the buyers quite hard with lesser choice.

I am not sure about Ambank. I try to get the clarification about it and post into here.

Alliance Bank can proceed with the application, so, pls be patience bcz the bankers need time to submit a bunch of 500 application at the same time.

Hope there would be another panel of bank so we could have more choices.

Anyway, now is just middle of March. It's good to secure the loan earlier but no need so rush since the S&P only could sign earliest end of June or early July.

Let's see is there any progress by end of April.

For DIBS, you need to pay the loan doc legal fee ( you can finance it as term loan ) and MRTA is optional ( unless you really wanted it )

How do you get the loan doc fee of RM 15k?

A RM 600k loan doc only cost full fee estimated RM 10-12k only what.

Ohh ic. If u plan for MRTA then better take now. At least can finance it under Term Loan rather than put on cash later stage. The lump sum payment is huge.

Anyway, pls bear in mind, the developer only absorb the HOusing Loan interest during construction and they do not absorb the Financed MRTA or Term Loan interest.

No worry Xccess ... I am sure you buy KR2 for own stay ...

Dont worry for it ... I am sure all bankers from Alliance and UOB quite busy filling up all the forms for submission for HQ to grant an approval.

Anyway, the status should come out by next week ...

Hope all of us are able to secure the unit and sign the S&P soon ....

Don't worry. Just get all your info and doc fully prepare for the Alliance Banker. I am sure they can get you higher margin than UOB Bank.

Good Luck.