saw a lot of people at the sales/show house at the cube, anyone know how's the sales of Skyz over last weekend?

Alot of ppl went last week.. but sales still slow..

Sorry, I'm new here. What is BBB?

Buy buy buy i guess

hi all,

i booked a unit 2 weeks ago and as mentioned one of the incentives was an easy payment scheme for the deposit. they prepared an agreement letter for this and i happily signed it without going through it in detail (my mistake).

however after reading through the terms again a few days ago i realised there is a clause that states i cannot claim for liquidated damages for late delivery. i admit it's my fault for not reading the terms more carefully, but i did not expect that such a clause would appear in an easy payment scheme agreement letter, and the ioi staff did not highlight this at all before i signed. i feel kinda cheated to all skyz buyers, did u object to or manage to get ioi to remove this clause? i plan to call them tomorrow to appeal this matter.

Wow, this clause is a painful one. Could that be the cause of the slow sales happening?

Is it legal to do it in the first place? Suppose housing development act have a standard rule regarding late delivery.

Hi incognito, me too didn't realize on this clause.
Have you happened to check with them already?

Are you guys sure you read the clauses correctly ?

Maybe they are referring to the interest bearing scheme or something like that ?

I remember their skypod interest bearing scheme has a expiry to it, meaning if the project is delayed, then they won't bear the interest due to project delay beyond a specific date.

here's the exact clause verbatim:

I/we agree to waive my/our right to claim for liquidated damages for late delivery, if applicable, in respect of the period beginning from the date of this letter and ending on the date of the Agreement.

doesn't sound like it's regarding the interest bearing scheme. will be calling them in a bit.

Haha very carefully worded and so it does not void the SPA.

Yes indeed it means you are giving up your rights to claim for the LAD !

This developer is so mean ! They give you something ( the voucher ) and they will want something back from you !

go ahead lah.
am pretty sure when push turns to shove, one person go report tribunal, almost guarantee sure win one lah.
no worries.
clearly ioi would be penalised if they are late.

If so certain that the tribunal will side the buyers, why would IOI want to try their luck on it ?

once spoken to a lawyer specialize in housing loan. She also complaint that when she brought a house, she's also buta-buta sign the SPA. It's so complicated and they should send all lawyer back to english school.

anyway, that's why people are buying from reputable developer, especially those who got burnt before in 1997/98 crisis.

ioi typical chinaman mah.
kiasi.
but pretty sure if go court, sure lose lah.
besides spa for resi cannot be modified.
protected by hda.

If you read the sentences, it does not modify the SPA at all.

Whatever in the HDA specified SPA is still valid.

It's the buyers who "voluntarily" give up their rights after signing the document.

So this developer who make buyers sign that kind of document is considered reputable or not ?

I am sol confused.

The waiver of the right to claim for liquidated damages for late delivery is only "in respect of the period beginning from the date of this letter and ending on the date of the Agreement"


I wonder what does it mean???

Maybe it's this kiasi fella says that you can't claim LAD for the period of you place the booking till the beginning of SPA ?

Which is already something understood but by making it more explicit, more people are confused by it ?

Boss puchongite, LAD is for late delivery of the prop ma, but this Clause is talking about the period even before or during the construction period??? So to me, the Clause does not make any sense!!!