Investment DAMANSARA FORESTA, A new development near Desa ParkCity
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 Jun 25 2012, 09:18 AM
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#41
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3,774 posts Joined: Mar 2012 
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What if the bank LO states that the DIBS is 42 months from the date of the LO? If there is a delay, do i have to pay for the interest between 42 months from the date of bank LO and VP?
Is it normal for the bank LO to state xx months from the LO date or it is more normal to be xx months from the date of the S&P? |
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Jun 25 2012, 11:19 AM
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#42
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3,774 posts Joined: Mar 2012
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QUOTE(Chris Chew @ Jun 25 2012, 09:54 AM) Depends on respective banks DIBS letter offer to developer whether it was stated "42 months from the date of bank LO and/or UPON COMPLETION VP" Believed that it was discussed in this forum before. Everyone was complaining that the DIBS is not stated in the S&P and the developer also provide no black and white on the DIBS. Come to think of it, there are also no brochures from the developer at all which state DIBS. normally, for DIBS, you no need to pay progressive interest if the project delay for over 42 months. U must ensure whether the developer said strictly for 42 months only or until VP. It was standard for banks to state 42 months from LO date. Standard was 36 months ( highrise), if the development is big, they will declare the completion takes 42 or 48 months. They must declare to banks upon applying for EF and banks will isdue their DIBS terms and condition where they will insert all above included the agreed packages, and it must be accepted by developer bfore the banks call sell the product to buyers. If the developer takes longer than 42 months, by 39-42 month period, they must stated the reason of delay by write in to the bank and all the loans would be extending the loan availability period. Make sure, for DIBS, you must read the LO properly.  If I ask my lawyer friend, he will advise that legally a grey area since no black and white also cannot be deemed implied because there is no such brochure or marketing material which state so. Only verbal from the SA. Hehe... |
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Jun 28 2012, 03:08 PM
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#43
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3,774 posts Joined: Mar 2012
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QUOTE(shuhan86 @ Jun 28 2012, 10:52 AM) can i check what interest you can get? i heard people said some banks can get better interest offer. Are there deals better than BLR - 2.4% or BLR - 2.45% for whole tenure?Added on June 28, 2012, 3:45 pm QUOTE(accetera @ Jun 28 2012, 02:00 AM) btw is block C and D officially launched? Friend called the SA. Still no news yetIt is been a long gap... Added on July 2, 2012, 2:29 pmAnyone has any news on our stamped S&P? Added on July 2, 2012, 2:29 pmAnyone has any news on our stamped S&P? Added on July 2, 2012, 2:29 pmAnyone has any news on our stamped S&P? This post has been edited by CMW123: Jul 2 2012, 02:29 PM |
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Jul 10 2012, 01:56 PM
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#44
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3,774 posts Joined: Mar 2012
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QUOTE(1282009 @ Jul 10 2012, 12:05 PM) Confirmed stamped SPA is out. Will collect mine this week. Anyone collected theirs? Any idea what is the date of the SPA? If dated in June 2012 means they expect completion only in Dec 2015, 42 months |
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Jul 16 2012, 09:56 AM
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#45
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3,774 posts Joined: Mar 2012
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QUOTE(1282009 @ Jul 14 2012, 07:14 PM) I presumed the piling is almost completed by looking at the latest pic? Remember someone said in this forum that you can see DF site from Giant Kota Damansara, is that true?In first photo right side looks like some structure is already up..  |
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Jul 16 2012, 05:42 PM
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#46
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3,774 posts Joined: Mar 2012
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QUOTE(pinkrazr @ Jul 16 2012, 02:30 PM) anyone from the Block D received the SPA stamp? Mine is Block B but did not receive any call from lawyer. Any Block B owners receive the stamped SPA? |
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Jul 19 2012, 11:23 AM
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#47
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3,774 posts Joined: Mar 2012
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Called the lawyer. Was told that only Block A S&P has been received but none for Block B...
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Jul 23 2012, 12:57 PM
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#48
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3,774 posts Joined: Mar 2012
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QUOTE(calvinyeap @ Jul 23 2012, 11:36 AM) I got mine too last Friday... And it stated that the piling and foundation was completed on 22nd May 2012... Read somewhere that the piling work started end of last year. To complete in about half a year for piling of 4 blocks close to 40 storey high is amazing from my limited knowledge. Or is it piling for Block A only as mine for Block B has not receive any progress billing...Any engineers can share their comment? If this is the case, then the completion actually can be shorter than 3.5 years  |
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Jul 24 2012, 04:48 PM
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#49
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3,774 posts Joined: Mar 2012
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Mayland is famous...
LNG too the same? |
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Jul 26 2012, 11:02 AM
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#50
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3,774 posts Joined: Mar 2012
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L&G MD said RM20m spent on developing infrastructure with slope safety measure which took 12 months...
http://www.theedgemalaysia.com/in-the-fina...ll-for-lag.html Is it true already started construction for 12 months?? Added on July 26, 2012, 11:03 amStill no news on my S&P for Block B. Any neighbours here collected theirs? This post has been edited by CMW123: Jul 26 2012, 11:03 AM |
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Jul 27 2012, 09:20 PM
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#51
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3,774 posts Joined: Mar 2012
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No news on when launch of Block C. It has been 5 months since Block D!!
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Jul 28 2012, 03:22 PM
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#52
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3,774 posts Joined: Mar 2012
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QUOTE(316 @ Jul 28 2012, 03:07 PM) Just back from Sales Gallery, Block D left 49 units. Looks like sales has not progress much in the last one two months. Sign of either over priced or tough to get loan |
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Jul 28 2012, 03:32 PM
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#53
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3,774 posts Joined: Mar 2012
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QUOTE(CMW123 @ Jul 28 2012, 03:22 PM) Looks like sales has not progress much in the last one two months. Sign of either over priced or tough to get loan Or people not willing to pay for the high floor pricing yet face west n overlookling north south highway |
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Aug 2 2012, 09:46 AM
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#54
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3,774 posts Joined: Mar 2012
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Still no news on my stamped Block B SPA and loan agreement
Any Block B owners got theirs? |
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Aug 7 2012, 05:30 PM
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#55
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3,774 posts Joined: Mar 2012
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Just received a call from the lawyer that stamped SPA is ready. It was 3 months after signing!!! Talking about delaying tactic...
Bank will only signed the loan agreement after sighting the stamped SPA... |
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Aug 9 2012, 09:19 AM
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#56
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3,774 posts Joined: Mar 2012
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QUOTE(leeyiksheng @ Aug 8 2012, 07:33 PM) I'm getting a 90% loan. And I know the 10% loan disbursement is due this month. The law firm (Norenda and Yap) is fretting over it and both the developer and the law firm are blaming each other for the delay. The latter said the SPA was late whereas the former said the loan agreement could have been signed even without the stamped SPA. My Block B unit did not receive any progress billing. Is the billing only for Block A?Anyway, the loan agreement has been sent to the bank and I'm still waiting for the stamped copy. The law firm says that they will make it for the disbursement and the developer on the other hand asked me to note down all the events in order for me to make a case if I am charged interest for the delay in disbursement. |
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Aug 9 2012, 12:53 PM
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#57
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3,774 posts Joined: Mar 2012
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I called the developer and they said first progress billing for Block B only going to be issued end of this month.
Under the Act, from the date of the bill, there is 21 working days to pay which means close to one month to complete the loan disbusement which is achieveable under normal circumstances. Actually, how can developer bill when the S&P has not been signed and stamped by them?? Unless they back date it and the loan agreement was delayed   Now have some questions on this developer already  |
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Aug 14 2012, 09:44 AM
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#58
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3,774 posts Joined: Mar 2012
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The froesta facebook seems to be very quiet...no updates from the administrator n no new posting by others...
Wonder how is the construction progress... |
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Aug 22 2012, 09:18 AM
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#59
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3,774 posts Joined: Mar 2012
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QUOTE(hplim18 @ Aug 21 2012, 01:50 PM) The unit I purchased is Block B, I am also only able to sign on my loan agreement on last week, after I have chased the lawyer firm for so long. I have gotten my stamped SNP when sign on my loan agreement but it is without the CN on the 10% rebate. I saw someone has mentioned about this CN thingy, if I do not have the CN with me now, who shall follow up with? solicitor or developer? Thanks. Also from Block B. Called the developer last week, they checked from the system and mentioned that my CN was issued on 13 Aug and will be sent to me by mail. So far not received yet... |
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Aug 26 2012, 04:55 PM
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#60
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3,774 posts Joined: Mar 2012
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QUOTE(cheahcw2003 @ Aug 24 2012, 11:26 PM) you will get the next 10% claim. When is the due date for Block B next 10% claim? Still have yet to receive my stamped loan agreement |
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