Buying Under Construction Apt, Lots of question
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 Apr 5 2007, 11:13 PM
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#1
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Senior Member
2,155 posts Joined: May 2005  
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its so sad huh...
my fren is still paying her interest after 7years her housing project got abandoned... quite scary also buying uncompleted properties. This post has been edited by mIssfROGY: Apr 5 2007, 11:14 PM |
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Apr 6 2007, 02:17 PM
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#2
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Senior Member
2,155 posts Joined: May 2005
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bUt sometimes the bank would not allow u to start servicing the principal 1st...must see your bank loan agreement regarding this. Like mine, project also been delayed like more than half year oredi (thank god nearly complete). but when i wanna start paying my principal, the bank would not allow me
 Every month i only can service the interest alone....its killing me...Next time will neva buy any uncompleted properties oredi...its soo dem scary! Even projects from reputable companies can stall... This post has been edited by mIssfROGY: Apr 6 2007, 05:10 PM |
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Apr 8 2007, 05:29 PM
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#3
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Senior Member
2,155 posts Joined: May 2005
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QUOTE(aaronpang @ Apr 7 2007, 02:09 AM) Is this your first time buying property? ya man...1st timer....tats y keep hitting the wAlls...too excited and naive....but now I KNOW liaoz... Banks really makan consumers when it comes to housing loan... to be honest I see no point in purchasing property thats not ready built and servicing the loan for nothing in return! Just to share my personal buying experience. I waited for the housing project to complete and purchased a fully completed house from the developer at launch price developer didn't even markup the purchase price... because of competition in Puchong and the soft property market. End of the day I saved a bundle on my loan and still got a completed house at the same price as those who purchased units much earlier before construction. I fully support the government to adopt the build and sell concept!  not like now where they sell then build (or abandon)  Wish you all the best, and hopefully the developer will have a good answer for you!  Cheers!   |
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