Showroom closed at 5pm...

Almost all units have been sapu... Unless u show the guard the cash that u bring along.. Else.. Guard won't let u in...

i hope more developers practice signing spa on the spot from now on.
cut out the middle man who booked and tried to flip in between booking to signing of SPA.
well done berjaya!

Cash or cheque?

as much as i agree to this practice, there're pros n cons i guess. unless u're cash rich or absolutely sure u're gonna be able to get ur loan approved, u're gonna donate RM30k to the cardiff fund should u decide to not proceed with the purchase if u're unable to get the required % of loan applied for

Genuine buyers have nothing to fear bout. Those willing and capable shall have no prob with even ltv50. But for opportunists, I can onli say take it or leave it. The key words here is filter flippers ma. So if not sure can secure loan onot then beta just watch the show at side line.

Normally those ballot one will practise signing on the spot bj esplanad almost 10 years ago already did that. Sri petaling shops also, sign millions dollar spa without bank loan approval is really scary

Agree, indeed I&P has such practice long ago

if it was done in a proper way ..ie legal, then buyers will have to decide if he/she wants to buy - that is ok, semua transparent..
like dpc, they send you the invite and they include a circular that state clearly that S&P has to be signed on the spot .

My grouse is against developers who spring it on their buyers upon booking that hv to sign S&P immediately..which put the buyers on the spot obviously.
Then the S&P to be signed is not the complete S&P - just the ONE PAGE of the signing page..ini legal ke? considered already signed S&P or not ? if so
deposit is forfeitable by developer, if not deposit is refundable in FULL if buyers change their mind..

aiyo, need dario foo to advise liao..

The Link2 sales really send a very clear signal to those who are waiting for mkt to crash, until today I still dun hv any idea on how strong is the underlying purchasing power, perhaps these funds are channeled fr a few sources :
1. Genuine purchaser who really hv enough savings to buy a house for own stay
2. Investors who has cash out their property in the last 2 years
3. Joint account, this practice is not an usual practice in the past, I only notice it has becoming an popular choice among young buyers.
4. Money fr stock and gold market
5. Outstation buyers who buy for their kids, very obvious in Bkt Jalil, MK and Sunway

My 2 bakuli

Great !!!

By law developer cannot forfeit your deposit if your loan is not approved, you can challenge to the court
If S&P sign, then susah lah
When signing S&P, you hv the right to ask for explanation of each and every clause stated in the agreement, obviously the way that the SA handling is against the rule
I wasn't at the scene, can't comment much
p/s : I seldom read the content of an SPA, quite boring indeed, I normally check the Lot No, Price, Layout, Name IC then sign

This post has been edited by UFO-ET: Feb 17 2014, 10:20 AM

Pls look at the standard S&P under HDA Schedule H Clause 4 under Loan. Developer can only forfeit 1% if loan reject even though S&P signed

http://www.kpkt.gov.my/kpkt/borang/lesen/Schedule_H.pdf

Loan
5. (1) If the Purchaser is desirous of obtaining a loan to finance the payment
of the purchase price of the said Parcel the Purchaser shall, within fourteen (14) days
after receipt of a stamped copy of the Agreement, make a written application for such
loan to the Vendor who shall use its best endeavours to obtain for the Purchaser from
a bank, finance company, building society or a financial institution (hereinafter called
“the Financier”) a loan (hereinafter called “the Loan”) and if the Loan is obtained the
Purchaser shall, within a reasonable time, execute all necessary forms and documents
and pay all fees, legal costs and stamp duty in respect thereof.

(2) The Purchaser shall utilise the whole of the Loan towards the payment of
the purchase price of the said Parcel at the time and in the manner set out in the Third
Schedule hereto.

(3) If the Purchaser fails to obtain the Loan due to his ineligibility of income
and has produced proof of such ineligibility to the Vendor, the Purchaser shall then be
liable to pay to the Vendor only one per centum (1%) of the purchase price and this
Agreement shall subsequently be terminated. In such an event, the Vendor shall, within
twenty-one (21) days of the date of the termination, refund the Purchaser the balance of
the amount paid by the Purchaser.

last unit of the entire tower A fully sold at 5pm sharp yesterday

Roughly when they will launch Block B and any price different?

thank you for the info!!


exactly - which means this link 2 developer cannot forfeit the deposit in full just 1%...!!

secondly it says, the purchaser has 14 days to apply AFTER RECEIPT OF A STAMPED COPY OF AGREEMENT..

This info should BENEFIT all buyers may it be for this development or for other developments - Know your rights..

There is a clause also if the construction reach below 50% if purchaser cancel then developer have the right to forfeit 10% and if above 50% purchaser cancel then developer will forfeit 20%. So have to depend on after sign or before sign. Nowadays every SPA is follow the HDA and apply for all the new launch project under residential.

just thought about it..dunno this link 2 under residential or commercial?

1st march, expected 10% to 20% increase.

Ya, RM 30k is really a heavy penalty if failed to secure the loan. Last time was 10k. I agreed to signing snp on the spot but RM 30k for failing to secure loan is the thing i couldnt agree. 10k or below is already good enough to cover their admin charges.

Even a 400+sqft studio is actually reasonable comfortable, IMHO. Wait until you've been to metropolitans like New York, HK, Tokyo or London, where studio units of 200+- sqft are common and are considered acceptable. I guess it really depends on how one utilizes the space. That being said, that micro units have lots of innovation in it to save space. Etc: having a projector tv instead of a normal TV, and the projector screen being the room/living room curtain.

Back to this topic, take up rate is madness! RM30k booking fee and yet 90% take up rate? Area is ideal though, especially love the nearby golf course resort.