tks for your reply, still waiting for my MOT advice from the Lawyers.

Hope to keep $$$ longer in Bank account for the miserable interest

Titles has not been transferred from Master Title to.individual title yet but is on process.

Land has been charged to another Bank and from your progress billings, the a portion will be paid to the Chargee bank.

Once the full redemption sum has been paid to the Chargee bank. Then only the transfer can be effected.

But as conditions.for drawdown, MOT stamp duty monies must be paid so that transfer and charge can be done to protect the end financier. Hence we must pay.first.

Phase 2 comprising cluster house and surprisingly terrace house open for registration.

In special star property pullout.

Wonder Wgat type if terrace houses. Thought it would be cluster and semi d

7inchlonger, please share what you are allowed to share...

For strata, must pay maintenance fees
For strata, u cannot paint your exterior to a different color
For strata, u cannot simply park your cars on the internal roads if the housing estate
For strata, restrictions on visitor staying overnight

Please add more

Landed Strata can be as restrictive as Highrise Strata

That's why some ppl who can play by the rules prefer Landed Strata to Landed Individual

The issue that Tropicana has with Am Islamic us that Land has been charged to Am Islamic.

The developer is required to obtain a Redemption Statement from Am Islamic so that your End Financier knows how much to pay to Am Islamic and then only the remainder to Tropicana from the various progress billing.

This is cos the house must be delivered to u free from any encumberances.

But don't worry, there is a clause in SPA that says that if Developers delay in providing Redemption Statement and end Financier or buyer delay payment, developer is NOT entitled to late interest charges.

Clause of Standard SPA under Schedule G & H –.

Property free from encumbrances before the Purchaser takes vacant possession of
the said Building

2. (1) The *Proprietor and the Vendor shall not immediately and at any time after the date of execution of this Agreement subject the said Land to any encumbrances without the prior approval of the Purchaser and the *Proprietor and the Vendor hereby undertakes that the said Property shall be free from encumbrances immediately prior to the Purchaser taking vacant possession of the said Building.

(2) The Purchaser shall grant such approval to the *Proprietor and the Vendor encumbering the said Land for the purpose of obtaining credit facilities from any bank and/or financial institution only if the Purchaser has first received confirmation in writing from the relevant bank and/or financial institution disclaiming their rights and interests over the said Property and undertaking to exclude the said Property from any foreclosure proceedings which such bank and/or financial institution may take against the *Proprietor and Vendor and/or the said Land.

(3) In the event the said Land shall be encumbered to any bank and /or financial institution by the Vendor, the Vendor shall deliver or cause to be delivered to the Purchaser and/or the Financier a copy of the redemption statement and undertaking letter issued by such bank and/or financial institution in respect of the said Lot and shall authorise the Purchaser to pay such portion of the purchase price or the Financier to
release such portion of the Loan, as the case may be, equivalent to the amount of the redemption sum payable in respect of the said Lot directly to such bank and/or financial institution and thereafter the balance purchase price or the balance Loan to the Vendor provided all such payments and releases are made progressively at the time and in the manner prescribed in the Third Schedule hereto

Interest on late payments

9. (1) Without prejudice to the Vendor's right under clause 10 hereof, if any of the instalments set out in the Third Sche dule hereto shall remain unpaid by the Purchaser at the expiration of the said period of twenty one (21) working days, interest on such unpaid instalment or instalments shall commence immediately thereafter and be payable by the Purchaser, such interest to be calculated from day to day at the rate of ten per centum (10%) per annum.

(2) The Vendor shall not be entitled to charge interest on late payment in respect of any instalment if the delay in payment of such instalment is due to any one or more of the following:

(a) the relevant progressive claim notice referred to in the Third Schedule hereto furnished by the Vendor to the Purchaser and /or the Financier is not complete or is not in compliance with the requirement of subclause 4(2) hereof;

(b) in the event the said Land is encumbered to any bank and/or financial institution by the Vendor, such bank and/or financial institution shall delay or fail to issue and deliver the redemption statement and undertaking letter in respect of the said Lot to the Purchaser or the Financier;

© in the event the said Land is encumbered to any bank and/or financial institution by the Vendor, the Financier shall refuse to release the relevant portion of the Loan equivalent to the progressive payment due on the ground that such progressive payment is insufficient to settle the full redemption sum payable
in respect of the said Lot.

Hi KC, who is the solicitor that u called? SPA Solicitor or Loan Solicitor?

This post has been edited by cfa28: Jun 19 2014, 10:02 AM

Have u signed SPA already?

Once u sign SPA, please sign Loan Agreement ASAP, preferebably on same day

Developer is ready to issue Progress Biling already

use back same Loan Lawyer as SPA (Leonie Chan) to speed things up.

Remember to ask for Discoint on your Legal Fees for Loan Agreement

Lawyer is allowed to give 35% discount from Scheduled Fees but Market Norm is to ask for 50% discount

U pay full fees, after chq clear, Lawyer give you back 15% rebate

That's strange. My SPA Lawyer was Leonie Chan & Co.

Does not matter cos

1) SPA Fees is borne by Developer
2) You can still ask for the 50% discount

The trick is to say that the Bank Agent say that he can recommend a Lawyer that can give 50% discount

As stated by Ero-Sennin, once your Offer Letter is accepted, forward it to the Loan Lawyer and should be ready for signing in 2-days or so

Bro, the Loan Lawyer cannot give confirmation to Bank to release payment until and unless your MOT is paid. Hence, u have to pay first.

Think most buyers have received Notice of Payment of MOT and have paid

Yes, there should only be 2-club house at the most.

One for the Highrise and One for the Landed.

Or just 1-large club house for entire TH owners.

Normally some Club Facilities are built-in within the Highrise Building itself such as Swimming Pool, Gym, etc. Most Highrise Owners expect such Facilities and its also a Marketing Tool. Unlikely that TH will build Highrise without such Facilities.

The Highrise will not want the Landed Owners to use their Facilities due to Security and Kiasu mentality cos they pay Maintenance which includes Clubhouse

But Landed also wants some Clubhouse Facilities so TH MUST build a Clubhouse for Landed. Else, TH can NEVER market this development as a "higher-end Development".

So, its a dilemma.

I agree, 1 large club house is good for cost efficiency. but if you have too many members using it, u get more BANGSAT members. Facilities and equipment will breakdown faster. Worse if they open to public like Diamond City which will be open to public.

Diamond City owners will not be too happy but suppose their develoment is just too small to sustain such a nice club house

many buyers of Fairfield will not be happy if Tropicana proceeds to build more link house for phase 2 of TH, esp those who bought for short to mid term.

this is cos if Fairfield is the only link house development, then its value will be very high as the newer development are all Semi-D or Bungalow as will be very expensive.

even for those who bought for long term wont be too pleased cos it means that the density ratio will be higher than what TH earlier promised.

best is to stick to rarlier plan, phase 2 and beyond, should not have link house. unless its priced at more than RM1 mln for the DSL?

there should be still some loan rejected units

Just visit the Show Office to find out

the RM739 was for the first row only facing the Main Road and considered not so ideal location for ppl who wanted privacy.

But sold out even before launching.

Other all > RM800K

fantastic for you Bro

If only my timing was as good as yours

which route u take

silk to NSE to MEX to Tun Razak to Amoang?

Hi BBW, can u recommend some EFM Meters to measure the emmission?