have anyone completed loan agreement + stamp duty? mind to share how much your solicitor charge for the service?

This one I think is high-density. If I am not mistaken there are 2 blocks, blocks A and B.

For Block A, there are 4 blocks. Each block has 11 units. 4 blocks, there are 44 units. Hence, there are 44 units for each storey which is a lot. And there are only 6 lifts in the central core serving 44 units. Coupled by 43-storey, there are about 1800+ units sharing 6 lifts.

I think the average time of lift waiting will be around 5 minutes plus minus, if not more at peak hours.

Maybe your statement provide some hint to why lower units are taken ....
https://forum.lowyat.net/topic/2729697/+505

I have made a mistake in my post above, It is not 1800+ units for Block A (or Block B) but 1037 units. Still, it is considered to be rather high.

Does anybody know the details of the lift? As far as I know there are 6 lifts at the central core where all the 4 blocks meet, and there is an additional 1 lift for each block. In other words, there are 10 lifts for Block A and 10 lifts for Block B. Is that correct?

Are all the 10 lifts accessible? I am not sure if there are Bomba lifts can be accessed by the residents.

Hi there, have anyone of you sign the SPA? Pr1ma's lawyer representative ask me to sign the SPA next week.

Any precautions before signing? Is there any loophole in the agreement which is an disadvantages to the buyer?

I'm still enquiring about the 10 years moratorium. Officially, the 10 years period start after the date of strata title issuance.

I think they won't play the trick to force buyer wait for more than 10 years before they can sell. I am just worry if there is any hidden clause in the agreement which are the killing points. Any law experts has go thru the pr1ma agreement? anything wrong?

I am curious, says if I would like to sell back to Pr1ma in less than 10 years time, is that possible? If yes, what will be the selling price? Who know we may get a better or a cheaper house in next 5 years?

When you get your SPA, refer to clause 35 on "No Disposal without the Vendor's Prior Consent during Moratorium Period".

Also look for clause 12 in reference to when PR1MA should apply for strata title. "Upon the execution of this Agreement, the Vendor shall, at its own cost and expense and as expeditiously as possible, apply for subdivision of the said Building or Land..."

It does not state when strata title will be applied and given. Just "expeditiously".

With this condition have you sign it? or wait till it got amended?

Do we have the right to ask pr1ma to amend the agreement? Apparently the clause is more favorable to pr1ma, I've selected the unit in Jan but they only ask me to sign it now, Aug. Delaying is something common. Looking at their working attitude, I am afraid it is an endless time to wait for something from them...

There is another issue concerned me as well. Regarding the car park bays. In the agreement stated as allocated to the purchaser. Worried after 10 years, when dispose the units whether the car parks are transferable or meet with some restrictions? 😓

What is the occupancy rate of this Alam Damai Pr1ma now? As far as I know most of the units 80% to 90% have been taken up with S&P signed.

Im wondering if can purchase new car park from pr1ma.? Call them but they have no clue on this.

After we sign the SPA, do we have a copy to bring back home? Or we can bring it back home to read first then only decide whether to sign it or not...?

Don't think amending the agreement will be possible to be realistic. For me, I want to enquire whether the Strata Title Act 2013 applies for this project or not since it's not mentioned in the SnP.

The Strata Title Act 2013 is an amendment for STA 1985 that requires strata title to be issued with VP.

Better to contact your assigned legal firm about this. I signed it, but since i have not paid the downpayment, it's not stamped yet. I have a scanned copy for myself.

can ask snp lawyer to send a copy to u... u pay for it... it's not free

Since I could not get an answer from PR1MA for 6 weeks now, I have sent this to the legal firm handling my SnP to chase on this matter.



This post has been edited by deric88: Aug 16 2016, 02:36 PM

In dilemma now, sign or not sign?

You can ask the lawyer to email a copy of the S&P agreement to you first for your advance copy.

But personally, I presume you are still not sure whether to go ahead with the purchase of this PR1MA Alam Damai, not so much about the S&P agreement. In other words, the S&P agreement is not the main factor for a prospective buyer to decide whether he or she wants to purchase the property or not. The S&P agreement is just the legal documentation that executes the agreement to purchase the property.

Usually the lawyer will prepare several copies of the S&P agreement for you to sign. One copy will be passed to you after you have signed all copies, about 3 or 4 copies.