Copy other forum thread. Important and general knowledge when you buying commercials resident so call soho
Arte Mont Kiara Project by Nusmetro
Sale and Purchase Agreement is lopsided. Just check carefully before signing.
1. completion period: 48 months from superstructure date and not from signing of SPA. That means the basement and car park can be built and progress payment will be released by the bank but completion period does not start. By the time reach superstructure, 50% of the purchase price is released already. Only then 4 years to complete
2. Defects Liability does not include air cond and pantry top only building work
3. Purchaser cannot sell property until strata title issued. Means not so good for investor because cannot sell. However if the developer agree to allow sale then the have to pay 1% of the new purchase price or valuation price (whichever higher)
4. Payment schedule - not normal, very upfront arrangement. there is a risk that the balance money may not be enough to sustain the project if any problem.
many more points. need to go thru carefully
Arte is based on Non Sch-H, commercial property. EKC SOHO Block J & H are Sch H project. Both are different category.