Paid booking fees but in the end back out. Full commercial title is a turn off for me.

Any owner’s group for Lakeview Suites? Just signed SPA 😃

I was told 2022 Segi will move in. but your info is 2024.

Segi complete in 2022, lake view complete in 2024.

Hi, I am new here, looking for property for investment. I saw few forumers turned off when they knew it’s commercial title. May I know why? It looks like a good investment property for me because segi is just next to it. Please enlighten. Thank you.

If you are new to property investment, better to avoid commercial title. Number one reason being it is not protected by housing development act (HDA). Under HDA, the rights of the house buyer is protected. There is a standard SPA format which all developers have to follow. The most important one being developer have to deliver vacant possession within stipulated time and progressive payment have to be in accordance to Schedule H (10% upon signing, 10% upon piling, 15% upon structural etc.).

If non-HDA, developers can simply insert clauses that are unfair, for example, developer has the rights to extend the VP delivery date under a long list of circumstances so that buyer will never succeed in claiming liquidated damages when the project delay. Developer can also change the Schedule H above to let's say 50% upon piling, 30% upon structural. So imagine paying 80% of the property price even though developer only do 35% of the work. If developer abandons the project, you will continue paying interests on 80% of the price until god knows when.

These two are just examples of things developer can do for non-HDA property SPA and can be a bit extreme. In reality, developer will tweak a lot of the wordings in the SPA which to a layman, might not make much of a difference, but in essence, they are giving away a lot of their rights. When signing a HDA property SPA, can just check personal and property details and blindly initial the other pages. But for non-HDA, if not experienced enough, better engage lawyer to go through it.

Other disadvantages of commercial title:
1) Higher utility bills
2) Higher quit rent and assessment rates
3) Max margin of financing is 80% and not able to withdraw EPF.

Despite all of these, a lot of the big moneys are made in commercial properties. It is just a different ball game that does not suit the newbies.

Is there any chat group for this property?

Lelong unit check in.

Why lelong, I thought not yet VP?

You may text me to join the Whatsapp group chat. Please note its only for the proud owners of EduMetro .

Sorry not for agents, no soliciting, no for sale / rent, just pure discussion for the good of EduMetro.

hehs, what's the current owners' sentiments about the next door project remix1, any news on that also being revived? Would be good to do so, right now it's very obvious whenever pass by the highway.

Sure i pm you my contact already.

Pm you

Hi is there any owner group here, please kindly dm.

Thank you

Any updates on this?