Hi, Taiko and Taijie,

Need advise from your experience.

I have just purchased a unit at You City by PJD. The SA told me that the 2 car park locations will not be specified in S&P. Only mentioned that 2 car parks will be allocated to me in S&P.

Would like to know is it common market practice by developer that car park location not specified in S&P? Why not stated clearly in S&P so that the purchasers have peace of mind?

What if they simply allocate bad car park lots at high floor to me and the good low lots to their good friends or connected friends?

As far as i know, car park location (with its unit number and physical location based on parking floor plan) will be specified in S&P.

Normally parking is under a separate S&P agreement. You may want to check if there is a separate S&P provided for parking only.

I'm not certain about this project, but some they do like that owners have to pay little amount sort of monthly rental for the car parks ..
and, when you want to sell off your house units time, more things inccur

This post has been edited by ecin: Feb 4 2013, 03:11 PM

Yup, its normal. Developer dont wanna tie up with too much encumbrance during early and planning stage. Who know later if authority insist the developer to built some facility at car park bays there, then the whole allocation will be jammed. Usually the developer dont specify this to cover their XXX

So unfair to buyer..

Should stated the car parks allocation and location into the S&P to protect each other interest esp buyers, but fair to both buyers and developers.

Most of the high rise projects, did stated their car parks lot into their S&P or with Separate Agreement of Car Park Agreement. Most projects are doing this way.

additional SPA for car parks is mainly for the benefit to developer to make billing to purchaser when they built up the car park podium.

If the developer lump the car park to building SPA, the developer is not allow to make claim to car park podium works according to HDA Schedule 3. As u had aware, car park podium first then only building structure up.

hence, developer come out another commercial agreement just for this car park podium so that they can make claim accordingly without jamming their cash inflow.

Of course, additional SPA, either the developer or buyer to bear the legal and stamp duty cost.

At the end, buyer still lose up as u will paying a lot upfront.

This post has been edited by peri peri: Feb 5 2013, 09:19 AM

No worry, I understand the flow.

For me, I still prefer the car parks stated into the S&P or Separate Car Park Agreement during under construction purchase, or even subsales. The black & white is there, avoid confusion during VP and clear the worry of bad car park allocation, where it might be affected the subsale selling power. Like KR2, a project with 5 storey car parks, normally will create such issues due to multiple storey, some buyers are unhappy with the price they purchased at higher and allocate not so good parking lots, a lot of them accepted it ( as least they know it now ) and some ready to pen S&P but cancel purchase ( better for em to cancel it rather than too late ), by VP, happy family.

Same goes to Central Residences, the car park allocation is more weird. Purchasers even much angrier, some cancel and some appeal for better or fair lots. At it forum thread, some got their appeal approved due to they paid higher for exp units. It settle now rather than unhappiness upon VP.

The additional cost of Separate Car Park Agreement is quite minimal n not heavy cost for me, at least to know the lot and check it out bfore pen to the paper. Furthermore, if purchase fr developers, normally the cost bear by the developers.

Receives the billing first also got pro n con. I like it bcz the bank release money faster, hence my lock in period begins earlier. For DIBS, no issue. For Non DIBS, just pay more interest.

I like the way of give and take, or leave.

just saying,

its norm nowaday for developer to practice that for highrise parcel. Some even worst offering car park management for more recurring income. You may refer menara rajawali for that.

Central residence case is unique case. Selling at premium price from rm600psft and buyers thought they will get premium service without asking much. As a smart buyer, they should know all these before entering the SPA. Imagine, some of them even dont know what is TANDEM car park and they named it as up down car park.

Legal fee and stamp duty is not cheap for some, even 1k to 2k extra also add up as burden to people like me. Maybe u r CASH rich, so cant equal to ALL.

regarding the concept of DIBS.

With DIBS, price is selling more at 4% to 10% EXTRA.

Still work back the same with no DIBS. Only thing with DIBS, u will have longer commitment and u r purchasing something which the price is for 3 years later.

Btw, car park lots is not cheap like 8 years ago. rm 5k for open and rm8k for covered.

Now, all price tag for covered car parks inside a podium is starting rm20k due to cost of a elevated podium aint cheap

even some inside basement also selling quite premium.

agree, definitely in agreement for car parks allocation is better for purchasers

No worry, buy SUBSALE, sure got one

by the way, how many projects don't have?

2 of my purchases dont have, and almost 80% new project i asked around also dont have. Loop holes

Because with any unsold unit, they can allocate the car park and sale higher to others upon VP. very norm.

wow, how many projects in selected sampling?
Do you mind to share them out? TQ