Welcome Guest ( Log In | Register )

Bump Topic Topic Closed RSS Feed

Outline · [ Standard ] · Linear+

Investment DAMANSARA FORESTA, A new development near Desa ParkCity

views
     
propertyselangor
post Jan 8 2012, 08:52 PM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(8000 @ Jan 8 2012, 07:21 PM)
actually paid by check so just called the bank to cancel check. i did call the SA saying i wanna cancel coz of loan problems. she ask me to write letter and then wanna penalize the 600 service fee. so i said to her might as well i cancel the check la? she laughed and said yeah. and so i did....
dont think they will bank in the checks til tomorrow anyway.
*
I tho the bank has imposed some penalties on check cancellation also? like RM100? IS this true?


Added on January 8, 2012, 8:55 pm
QUOTE(cheahcw2003 @ Jan 8 2012, 08:35 PM)
If Block B sell higher price than Block A is quite reasonable because:

Block B is North South Orientation, those who pick facing pool will be facing South, those facing North will be facing the green, both side are good, whereas for Block A, those units facing pool are facing the West (afternoon sunlight), those odd numbers that facing Phace 2, will be dusty when Phase 2 under construction.

The reasonable price increase shd be RM10-15.....psf
*
Cheah: looks like you have a deep understanding of the project.
I wonder who will pay for the maintenance of the 21 acres green lungs (canopy walk, gree tea house etc...)
They told me is not in S&P or DMC but in their brochure as 42 acres facilities? mis leading?
icon_question.gif

This post has been edited by propertyselangor: Jan 8 2012, 08:55 PM
propertyselangor
post Jan 10 2012, 03:00 AM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(cheahcw2003 @ Jan 9 2012, 10:54 PM)
that is becoz i got Block A lower floor, RM400psf. If i drop this, i dont think i can get the same price RM400psf product in freehold damansara area.
those who bought 4-5 units are seasonal investors....i guess they know what they are buying into.

All investment comes with risk, like a glass of 50% fill with water, Some ppl see half full, some ppl see half empty. i.e., Some ppl see opportunities, some ppl only see risk.
*
You are good, thumbup.gif can get at 400psf, before or after 10% disc?
I went there on Sunday 1pm, it is >500psf before 10%. cry.gif
I gave it a miss.
Did you know their pricing before Friday? This forum was talking about 600-700psf, so i did not bother.
you have already made 500-400 (100/400 = 20%).

Looking around, i think 400psf is cheap. plus dibs, mo ta ten
I guess one have to run before 10 years DF development completed.

propertyselangor
post Jan 11 2012, 02:50 AM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(jalong @ Jan 10 2012, 05:22 PM)
See my advertisement below, urgently want to transfer my current unit because I want to buy another unit.

Please read my Ads then call me.
Damansara Foresta - MyOLX

Price: RM761k (before 10% discount)
Area: 1493sqft

First come first served.
*
Just did a quick calc, it comes out to be 465psf, no big deal.
You probably can still get from the developer slighly higher at higher floor.
propertyselangor
post Jan 12 2012, 12:52 AM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(Seremban_Guy123 @ Jan 11 2012, 08:36 AM)
Bro Chew, the working person who will buy
your unit at RM 800k 3 years later normally
of which type of job category? Young age
may get longer repayment period but the old
age boss type ppl may need to pay higher
repayment loan amount.

In this case, may need to lock a target to those
young age boss or probably from a rich family
back ground or couples who joint earnings per month
more than RM 15k per month.

Please correct me if my statement above wrong.  brows.gif
*
Hi, SG, Bro Cheah bought his at RM406psf, he is in driving seat, he can keep or run anytime.
On paper, he already made >RM50psf.

If your viewpoint is people cannot afford high price condo at >RM800K, i stand to be differ.
I think, KL and PJ is eventually going to be like Singapore, HK, or may be Tokyo.
Town city good condo is not going to be for the average wager without other source of wealth.
However, there is going to be more and more millionaire or billionaire.
If our infra is still not catching up with the development, everyone will need to stay near their workplace.
propertyselangor
post Mar 7 2012, 04:30 PM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(leeyiksheng @ Mar 7 2012, 03:22 PM)
That is supposedly an emergency exit for Rafflesia development at Damansara Perdana. I really doubt LDP will allow a 'leakage' from Sri Damansara to Damansara Perdana just as they would not allow DPC to be connected to the village at the edge of TTDI. Just a thought.
*
Just reminded me of Makhota in Cheras. It was done with a cost, unfortunately cry.gif .
propertyselangor
post Mar 11 2012, 03:26 PM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(SKfolk @ Mar 10 2012, 01:07 AM)
That's why MRT is being built. Next time everyone use MRT.
*
Not sure how MRT can help.
It is only built after 6 years (hopefully sweat.gif ), that could be at least one rounds of property cycle sad.gif .
And the nearest MRT Stations planned are at Surian Tower and TV3.
Currently the LDP jam starts at Persiaran Surian and LDP junction all the way to SD.
propertyselangor
post Mar 20 2012, 03:51 AM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(1282009 @ Mar 19 2012, 10:00 PM)
I also eager to know whether DIBS will be stated clearly in the S&P. I doubt it will be stated in loan agreement.
*
Hi, as I come to know about this project too late, I did not but any unit here. cry.gif
On the Developer 10% CN and DIBS, my experience with other developer is they do not
add in any new clause to their agreements, as these are standard agreements, too much exposure to modify it.
What my developer did was, it issued a side offer letter and asked me to sign off with condition that
if I pull out, I have to pay the 10% and interest. shakehead.gif

What happened was, the 10% bill did not come to me, developer paid (left pocket to right pocket).
No CN issued, for them, I think too risky to issue this CN lah. sweat.gif
I guess this developer will also just paid the 10% and interest after you have signed the side offer letter
with your commitment to pay 10% if you pulled out.
This is my experience with other developer, may not be the same. icon_rolleyes.gif
propertyselangor
post Mar 21 2012, 01:16 AM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(1282009 @ Mar 20 2012, 09:02 PM)
Thanks for the sharing. It's useful info. This is my 1st property with DIBS so I'm really no idea on this.
*
You are welcome, just my own experience. cry.gif

But I think, what we know is only the presentation from Developer.
What deal strike between Developers and Banks in this 10% discount and DIBS
is probably a cultural shock for us. rclxub.gif
propertyselangor
post Mar 24 2012, 11:23 PM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(316 @ Mar 24 2012, 10:46 PM)
Just signed SPA today. No DIBS things was mentioned in the SPA, the SPA just follow the standard format. The lawyer said no need to worry on the DIBS issue as long as developer not turning into insolvency within this period. Seems like perchasers are not covered perfectly. Anyone can share you opinion/comment on this?

I noticed that my car park location was mentioned in the SPA. It is front and back and blocked by another unit's two car parks. in another words, four car parks in one row!! Most of the unit's car parks was also designed in such a way!! I asked the Developer's staff on this arrangement, they just replied the simple answer which is "due to lot of units' car parks need to be designed in six level, so the car parks need to be designed front and back and close to each other." I replied that this is not an low cost condo and such design will lead to inconveniences. The designer should know at the first place and should design more level of car park! That person just replied that "no no, the car park already was design in such a way and cannot be changed anymore!" Really dissappointed on the design of the car park. Any can share your experience on this issue?
*
Like what I mentioned on my experience, the DIBS is outside SnP.
Loan agreement and interest is between Bank and Purchasers.
DIBS is between Developer and Purchasers, if Developer kabut, Purchasers has to pay bank. (my guess, not refering to any bank or developer sweat.gif ).
Developer will probably has some deal with Bank on - Bank to bear some cost in DIBS with Developer in order to stay in the panel. (again, my guess, not refering to any bank or developer sweat.gif ). But this is between Developer and Bank, Bank will probably has some clause to protect them if Developer kabut.
So my guess is (again, my guess, not refering to any bank or developer sweat.gif ). Developer pay interest to Bank at discounted price on behalf of Purchasers, if Developer kabut,
Purchasers has no one to pay on their behalf.
On the car park, I think this is the first time I ever heard of, the most is vertical car park lots for the same unit not across different units.
HBA should be informed on this.
propertyselangor
post Mar 25 2012, 12:35 AM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(1282009 @ Mar 25 2012, 12:08 AM)
Yes I agree with u... it's really inconvenience but common practice in many condos.

What is uncommon is 4 cars in a row sad.gif
*
Ya, agreed, quite common already.
It saves space and can have more parking lots, on same piece of land.
Some people call this vertical parking versus horizontal parking.
propertyselangor
post Mar 30 2012, 03:46 AM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(friedfishcakes @ Mar 28 2012, 11:37 PM)
So, the 0.25 cents is what is promised by developer and it is not in black and white. Hopefully it will be maintained and not jacked up.... smile.gif
*
IMO, the maintenance fee and sinking fund in future is supposinly determined by the owners through JMB or AGM.
However, it is good to start with higher fee so that more money can be reserved for maintenance,
as it is very hard later on to increase it as most owners will get vmad.gif ,
to reduce it is easy as most owners will rclxm9.gif
propertyselangor
post Apr 5 2012, 03:42 AM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(1282009 @ Apr 4 2012, 11:03 PM)
Guys, do update here if any of u have received the CN, stamped SPA, loan agreement, etc .. thanks.
*
In my opinion and some other experiences, I really doubt developer will issue CN.
As they have to dig out real cash to pay you whom make up to thousand of purchasers.
If DIBS is 10K per purchaser, 1 thousands purchasers mean they have to prepare RM10million lah. ohmy.gif

They will probably issue offer letter (only 1 thousand logo offer letters.. cheap cheap lah compare with RM10million real cash)
If I was the developer, I will also ask commission from bank for generating sales from them, and offset it with
the DIBS interest, cool2.gif
beside, I will negotiate for an easy payment and low interest payment stream with banks to settle the DIBS,
in return for them to stay as panel bankers to get business from my project. cool2.gif

So, why should developer issue CN purchasers?
Just my view, very soon we will know.


propertyselangor
post Apr 6 2012, 01:14 AM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(cheahcw2003 @ Apr 5 2012, 10:56 AM)
On the 1st place, do u understand what is DIBS and CN? Your statement make me confused.
*
Dear cheahcw2003, isn't CN mean Credit Note and DIBS mean Developer Interest Bearing Scheme?
Enlighten me if you have different understanding.
What is so confusing? again, enlighten me if you have different understanding.

propertyselangor
post Apr 8 2012, 03:55 AM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(cheahcw2003 @ Apr 6 2012, 11:51 AM)
the so called CN is also just a letter with LNG logo stated the amount that purchasers are waived to pay the first 10%. No need to prepare real cash.
In the LNG account, it will only affects the accounting entries (book keeping), "Sales/Turnover" minus "discount allowed" = "Actual Sales"
CN nothing to do with the DIBS. IMO.
*
Hi cheahcw2003:
I guess we no need to argue on this, will find out later, when it happen or not happen lah.
propertyselangor
post Apr 9 2012, 02:35 AM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(Chris Chew @ Apr 8 2012, 09:31 AM)
Banks do have program call referral scheme of 0.10% of successful loan amount taken by borrower and refer by them. Ex RM 500k loan they can receive RM 500 referral fee upon execution of loan doc.

If just bcz of DIBS and generating sales for banks and ask for commission, banks would rather pull off the end financing and provide somewhere else. Who has more risk? Banks provide end financing to help the purchasers to own the property. DIBS and projects with 10% is deem as very high risk EF. Everyone can buy provided they able to obtain 90% loan.

Furthermore this is only L&G, the limit of the EF is not as high compare to other taikor like Sime Darby, Mah Sing and etc.
*
I responded to a question whether L&G will issue CN. Just elaborated more on why developer
not planning to issue CN. No plan to go too far on this
arguement on relationship between Developoer and Bank.
WIll know later whether Developer issue CN or not lah, no point wasting time on this arguement.


propertyselangor
post Oct 19 2012, 04:15 AM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(GolfFanatic @ Oct 18 2012, 03:13 PM)
Very expensive for condos. No shortage of big-sized condos around that area. Even if around 1,600 square feet only will cost RM1million already. Might as well go for 3,182 square feet FREEHOLD gated and guarded superlink Perdana Residence 2 at Selayang. Already VPed. Prices still low at around RM1.2 million only. 7 rooms and 7 bath! Some more got clubhouse! If you were to buy from developers now, nothing less than RM1.4million to RM1.6million. You can't go wrong with freehold landed AND G+G.
*
GolfFanatic: may I ask what is your game plan for buying PR2 at Selayang?
What is the possibility for Rental, flip or keep for capital appreciation?
IMO, DF has potential for all these 3.
IMO, Selayang may have a bit problem for rental.
propertyselangor
post Oct 24 2012, 03:49 AM

Getting Started
**
Junior Member
180 posts

Joined: Oct 2011
QUOTE(cheahcw2003 @ Oct 21 2012, 12:55 PM)
There is no perfect developer in the world. Some developer is good in delivery but they sell their property at future price, and leave no money/profit on the table for the investors to grap. Mayland is not.

The bad things i heard about Mayland are:-
1) poor quality
2) late delivery and refuse to pay late interest (LAD)

For point 1), it is depending which main contractor they appointed to construct the project, what i heard is that their recent project Regalia has almost VPed and the quality is good.
For point 2), DF is covered with DIBS until the VP, from investor points of view, as long as interest is covered till VP, then there is no extra cost to hold the property, even the developer delay the delivery.

Despite all the complains, i would say Mayland still have lots of repeat customers, especially those customers who invested in their previous projects in Sri Hartamas, golden triangle made good money with superv appreciation rate.

So investors need to do their own personal judgements, if the benefits outweights the cost, then still viable to invest, and vice versa. The choice is yours !!
*
On Regalia, I heard they were having problem connecting the access bridge from Jalan Kuching until lately.
What happened? do they have muscle or cable problem to get approval?

Anyone know what is the latest status of DF sales?

Topic ClosedOptions
 

Change to:
| Lo-Fi Version
0.0234sec    0.35    7 queries    GZIP Disabled
Time is now: 5th December 2025 - 11:30 PM