Nov 20 2018, 02:20 AM
QUOTE(nookie188 @ Nov 19 2018, 10:44 AM)
it may take less than one year but if you really need to have VP sooner, speak to the agent
and request that the owner rents the place to you while awaiting completion ..Rental usually half of market rate in your case
I agree with this point. Assuming that the unit is currently a vacant unit. and request that the owner rents the place to you while awaiting completion ..Rental usually half of market rate in your case
By dragging out (due to strata title complication) + able to seal a half month rent vs market rate, I think is still a good deal after all.
It is better than making loan repayment to the bank + maintenance fees, etc (all still under the owner responsibility).
Unless genuinely got something fishy going on just to scam away your 3% deposit.
Need to make sure the S&P drafted perfectly to protect all your interest, especially on the issuance of strata title, is solely owner responsibility and the timeline will only start counting there after.
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