Hi, i am limfookming's gf. We bought Phase 2 Level 4 last row at the top. Very nice to see so many amansiarans here and all having the spirit of community and green-loving. Sorry, we didnt respond earlier coz we didnt check the forum. Was quite busy with work.

Anyway, fyi, Susakthy, before my bf and i bought our unit, we went all the way to cheras to check on leadmont hill project. It was very in and quite high up on a hill in cheras. Kinda hard to find and we got lost a few times even after gotten directions from some locals there. It was a pity that it was very late at night when we manage to find it so can't really see the quality. But it does EXIST and that lessen our fear of abandonment.

I work in an accounting firm whereby we handle one or two abandoned housing projects so i am quite familiar with what will happen if it is abandoned. Was scared initially as our searches of Wirama yielded nothing much about the developer. After talking through with a lot of people, we decided to buy. The main reason being this project is considered as Wirama's flagship project in KL so it has a lot to lose if it screws up. Actually with sell-and-build houses, there is no way of making it 100% abandoned-proof. There is always the risk. Can only do some initial check, periodic monitoring and lots of prayers.

To lessen the effect of abandonement...should ask your end-financier (if any, if not yourself through your lawyer) to redeem your unit from the bridging financier. This will avoid any additional redemption sum that might be imposed from the bridging bank (MBB, in this case) that will add on to your purchase price in the event of abandonement.

btw, we took up ING's 5.99% fixed loan. Lock-in period is 3 years from the date of 1st drawdown. why? Coz we want a peace of mind. =)

Our loan lawyer's fee was about 2.8k

Nice to meet all of you. Cheers and HAVE a happy new year neighbours!

Hi jumps! I will try to explain as simple as possible...because it is actually quite technical.

When a developer took a loan from a bank to finance their housing project, they usually charge the development land to the bank in exchange for the loan amount. So the land technically belongs to the bank until it is redeem by the developer, ie. settlement of the loan. However, developer usually only repay loan after they receive the sales proceed of the planned houses. And developer will only get their sales proceed bit by bit due to progress billings as required by the law. Development usually takes a few years, so in order to protect itself, the bank usually set an agreed redemption sums for the units build on the land. Once redemption sum is paid, the bank has no further claim on the unit/lot. Terms and conditions differ from case-to-case.

Abandonement will only occur when developer has cash flow problems and then breaching the terms of the loan (eg. unable to service interest)...then the bank can seize the land to recover its debts. so if your unit/lot has already been redeemed before hand, then it belongs to you already (if you have your own financier, then it belongs to your bank as you have already charge it for the loan)...the bank cannot demand further sum from you in order for it to relinquish its claim, for it has no claim.

Do not worry, as you took up ING's loan. End-financier usually protect its own interest first so it would have already confirm that the redemption sum has been settled (if any, sometimes the developer has already settled with the bank or your unit/lot is not affected). You can check your loan documents/correspondences. I checked, mine did.

Gathering is a good idea. But hard to arrange the timing to suit everyone's schedule. =)

We started the thread because from my experiences dealing with SPAs...the one we had is quite weird...so kinda scared that the developer will cheat us. Different staff telling different stories...different buyers hearing different things. Strata titles mean there will be coomon areas and facilities but in our SPA, none! Meaning they don't have legal obliigations to build those facilities or they can maintain the flexibility of modifying their promises. But then in another schedule, they retain the right to charge us maintenance fees for facilities! inconsistent right? Just worry in the future will have problem/dispute with the developer's management. But we can only worry so much...sigh.

Sorry to hear your story. It is very unfortunate. However, in regards to your decision to disagree with the request from Sedaya...have you think through it?

If it is a genuine plead from the developer and if there is a bridging financier, it is worthwhile to consider to forgo your claims in order to get your house ASAP. It will be a pity if the developer goes burst and the land is seized by the bank. Then it might be even longer till you get your house. And most likely in order to complete the houses, the bank or other buyer will also request for the waiver of interest and LAD charges.

However, it is wise to be cautious of the developer's promises as it might never get fulfilled also. Perhaps it will be more fruitful if both developer and purchasers work together to make sure developer fulfil its promises of completing and delivering the houses. Or else it will just be an endless vicious cycle.

We have tried to go in to construction site of aman siara but was blocked also. =( Felt scared that the architect might complot with developer in order to have early cash flow. If they use it for development i dont mind but not other things!

Sigh.

Thanks Sabrina We will sure love to attend and meet the rest.

So glad we started the thread. Hope all of us will become good neighbours and firends.

hello fellow neighbours! been following the thread but didnt do much posting. Sorry!

Great to see the forum so active.

My unit Phase 2 396-D has been 55% complete in feb 2008. But since then no further news. Phase 2 unit owners, please confirm. Maybe developer busy contructing the roads and infrastucture for the phase 1 units hand over end of this year.

Anyway, i have some pictures of the interior and also the tiles to contribute.

But i dunno much about loading photos on a forum or a blog. Sorry ya, but it took me sometime also to actually register and start posting in this forum. hehehe. paiseh.

Please let me know how and what i should do?

Thanks ya!

Congrats to 1st batch house owners!!!

Please check the websites below for house purchasers' rights:

http://www.malaysianbar.org.my/conveyancin...sing_act_2.html

http://www.malaysianbar.org.my/conveyancin...ng_part_ii.html

I also came across this article that says that with effect from Dec 1 2007, defect warranty period is 24 months...not 18 months...

http://www.malaysianbar.org.my/legal/gener...s_warranty.html

I know our SPA said 18 months. Can someone advise/check out whether depsite SPA saying 18, the developer in essence has to follow 24?

---

Added on January 8, 2009, 6:07 pmHi neighbours! update a bit ->


PHASE 1

Level 1
1. Nurfarhana : 087-A (phase 1, L1)
2. fernfan : 096-A (phase 1, L1)
3. Shafary : 118-A & 118-B (Phase 1 Level 1 & 2)
4. popshuvit5 : 125-A (Phase 1,L:1)
5. vincentyys : 131-A (Phase I Level 1)
6. kokiegigit : 141-A (Phase 1 Level 1)
7. Bluesky_king : xxx-A (Phase 1 level 1)

Level 2
1. Icekelvin : 088-B (Phase 1 Level 2)
2. Jolisakan : 121-B (Phase 1 Level 2)
3. Re-zal : 123-B (Phase I Level 2)
4. rayman83 : 161-B (Phase 1 Level 2)
5. thoseeyes : xxx-B (Phase 1 level 2)
6. eeda : 160B (Phase 1 level 2)

Level 3
1. ricky genius : 009-C (Phase 1 Level 3)
2. kelvinchin : 036-C (Phase I Level 3 )
3. agneslim : 056-C (Phase 1 Level 3)
4. yeems : 059-C (Phase I level 3)
5. nuwaira : 062-C (Phase I Level 3)
6. zba : 147-C (Phase 1 Level 3)
7. wkfvenus : xxx-C (Phase I level 3)

Level 4
1. sarah_ibrahim : 011-D (Phase I Level 4)
2. smile_lyn : 121-D (Phase I Level 4)
3. siewbow : 122-D (Phase I Level 4)
4. sabrina_beh : 123-D (Phase I Level 4)
5. KGK : xxx-D (Phase I Level 4)
6. winkie : xxx-D (Phase I Level 4)
7. winnie4638 : xxx-D (Phase I Level 4)

9. dee_zoul : xxx-D (Phase 1 Level 4)
10. joelleow : xxx-D (Phase 1 Level 4)
11. Adi_azma : 072-D (Phase 1 Level 4)

Unknown level
1. clairy : xxx- (Phase I)
2. thoseeyes : xxx- (Phase1)
3. Augustinetan : xxx- (Phase I)

TOTAL : 33

PHASE II

Level 1
1. steventan : 371-A (Phase II Level 1)
2. risya : 401-A (Phase II Level 1)
3. phchou : xxx-A (Phase II Level 1)
4. rainrain : xxx-A (Phase II Level 1)
5. fatin : xxx-A (phase II Level 1)
6. mago orso : xxx-A (Phase II Level 1)
7. alanyuppie : xxx-A (Phase II Level 1)

Level 2
1. fiatdamansara : 288-B (Phase II level 2)
2. ida_emil : 412-B (Phase II level 2)
3. rosevelle : xxx-B (Phase II Level 2)
4. zookahmad : xxx-B (Phase II Level 2)

Level 3
1. phchuo : 304-C (Phase II Level 3)
2. deb : 310-C (Phase II Level 3)
3. bigriverian : 345-C (Phase II Level 3)
4. ubi1kelubi : 347-C (Phase II Level 3)
5. vikki : 378-C (Phase II level 3)
6. you'll nvr wlk alone: 386-C (Phase II level 3)
7. june.mh : xxx-C (Phase II, level 3)
8. evil_nicole : xxx-C (phase II, level 3)
9. Jennson : xxx-C (Phase II) level 3)
10. bigriverian : xxx-C (Phase II level 3)
11. MelissaL : xxx-C (Phase II Level 3)
12. jumps : xxx-C (Phase II Level 3)
13. allan_ph2 : xxx-C (Phase II Level 3)

Level 4
1. 345D : 345-D (Phase II Level 4)
2. lalilulelo : 374-D (Phase II Level 4)
3. aphis : 390-D (Phase II Level 4)
4. good_nicole : xxx-D (phase II Level 4)
5. morisato :xxx-D (Phase II Level 4)
6. awiemaizah : xxx-D (Phase II Level 4)
7. LimauIce : xxx-D (Phase II Level 4)
8. limfookming & Kaysl : 396-D (Phase II Level 4)

UNL
1. ants : xxx- (Phase II)
2. limfookwing : xxx- (Phase II)
3. Hotspring : xxx- (Phase II )
4. Saw : xxx- (Phase II)
5. lamsf : xxx- (Phase II)

= 36

PHASE III

Level 1
1. IZZIFF : 221-A (Phase III Level 1)
2. susakthy : xxx-A (Phase III Level 1)
3. keiichicol : xxx-A (Phase III Level 1)
4. johnsl : xxx-A (Phase III Level 1)

Level 2
1. wadey : 197-B (Phase III Level 2)
2. Wiwiwawah : 233-B (Phase 111 Level2)
3. samhain : xxx-B (Phase III Level 2)
4. damin : xxx-B (Phase III Level 2)
5. ykyloveu : xxx-B (Phase III Level 2)

Level 3
1. citerku : 194-C (Phase III Level 3)
2. PuSSy_CaT : 236-C (Phase III Level 3)
3. kooman : xxx-C (Phase III Level 3)
4. agnes_sly : xxx-C (Phase III Level 3)


Level 4
1. swiss_garden_kl : 232-D (Phase III Level 4)
2. keepitsimpl3 : 236-D (Phase III Level 4)
3. sidviq : xxx-D (Phase III Level 4)
4. fer0 : xxx-D (Phase III Level 4)
5. davidmay : xxx-D (Phase III Level 4)

UNL
1. sunny t_iu : xxx- (Phase III)
2. darren13 : xxx- (Phase III)
3. mog11 : xxx- (Phase III)
4. sagad : xxx- (Phase III)

= 22

TOTAL : 91



This post has been edited by Kaysl: Jan 8 2009, 06:07 PM