yea i got the letter too! awesome.. finally we see the light at the end of the tunnel! woohoo!!

Congratulations to all phase 1 & 2 owners. Although mr 2 still long time to wait, but also happy to heard that

Please do not sign for the reason :-
1. No certified architect certification showing in the document that the vp will be on end of July
2. Ms did not disclose how much $ and rates they will compensate on late vp.
3. Once you signed the document, you are legally agree on whatever payment term from MS in whatever amount

I think you should read letter properly first.

The letter mention ".... the payment of liquidated damages for the late delivery of the Vacant Possession (VP) pursuant to Clause 22 of the SPA shall be issued in favor of ________"

In SPA, the Clause 22 states that "If the vendor fails to deliver VP of the said bulding in manner stipulated in Clause 23 within time stipulated in subclause (1), the Vendor shall be liable to pay to the Purchaser liquidated damages calculated from day to day at the rate of 10% per annum of the purchase price from the expiry date of the delivery of VP in subclause (1) until the date the purchaser take VC of the said building......"

So I don't think they can simply decide funny T&C to cheat us.

Also, 31st July is just an indication, it might be earlier, or later. Doesn't matter when the VP will be, it will be taken into account to the liquidated damages payment.

Just my 2 cents



This post has been edited by bennycfw: Jun 24 2014, 10:15 PM

Can you tell me why need to sign this document if all terms and conditions already implicated in s&p ? Are they doing 2x job ?

This letter is not to ask you whether you agree or not, this is to let you decide what name(s) to be put on the cheque. If you do not reply, they will still issue the cheque with the purchaser name(s) stated in the SPA.

I just curious about last paragraph
"Upon receipt of the payment, i shall have no futher claims...."

Why we need to agree that before received actual calculation? If name for the cheque, they can follow s&p, no doubt coz that are the owner. Cannot be i bought the house but put other people name on s&p, right?

Yes, i not going sign this letter. They can follow s&p for the name on cheque....s&p is my name, why need do this double job.....cannot see the logic behind...

I am not going to sign too

some snp have more than 1 names, if cheque written there two or more names, means need to open a new bank account with joint names?

the buyers should hv a joint name account already when they applied the loan. just bank in to the same bank. thats it.

i think not necessary, my snp is two names, but loan only my name..

Anyone can share thoughts on renovation?

This is not always true, like what spreeee said, the buyers might not have the joint account as they might be siblings. MS give you the convenience to decide the payee name.

Whatever it is, I am just sharing my thought, if it doesn't sound favorable to you, you can just ignore it.

This post has been edited by bennycfw: Jun 25 2014, 10:24 AM

I think ms should pay according to Snp. As all of them have the share if the house. It might have dispute later it payment is make to 1 of them only

Hi all~ I'm interested in phase 1 corner lot sub-sale, plz pm me~

hi

may i know the m residence will hand over the key b4 31 july? bcoz recently received a letter and afraid that will postpone and postpone again, haizz.. and anyone know m1 phase 1 have guard house or not?

Thats why in some modern projects, you see the meter in a box near gate. Hides the eyesore cables, but still visible if you go up to the gate.

according to Mah Sing, Architect advice VP on 31st July 2014. This mean by the time owner receive the letter, it will be August. IMO, it will be either August or September looking at Hari Raya holiday at end of July.

IMO, the letter just indication of Cheque Bearing name. My SnP has 2 names (mine and my sister in law) but loan under 1 name (sister in law). If the cheque issue under 2 name, then i'll have problem banking in. I help my sister in law to purchase a unit and i can't cancel my name according to Mah Sing rules.

This post has been edited by jason_chee: Jun 30 2014, 12:18 PM