Covid19 and MCO effect on properties, Q&A Session on the effects
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 Apr 25 2020, 02:21 PM
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#1
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Junior Member
640 posts Joined: Apr 2007 From: X-Mansion, Penang  
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Point to consider, Auction takes a long process from Notice of Demand, Form 16D and Order for Sale. It is not 1-2 months but rather might take up to a year to set a date for Property Auction.
So a default now, auction might take place next year for properties with title. |
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Apr 26 2020, 05:49 PM
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#2
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Junior Member
640 posts Joined: Apr 2007 From: X-Mansion, Penang
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QUOTE(Brandonben @ Apr 26 2020, 05:00 PM) can do that? in the agreement already written if terminate need to pay penalty to bank rm2k If SPA is aborted, it is really no transaction.. argue that. |
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May 3 2020, 06:15 PM
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#3
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Junior Member
640 posts Joined: Apr 2007 From: X-Mansion, Penang
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QUOTE(flying_duck @ May 3 2020, 05:45 PM) This MCO made me hesitated on my purchase on a unit in a new project.. 1. Would you be able to survive with 69% ?The loan was approved a day before MCO started, and not signed yet till now. My purchase is meant for own stay purpose and the installment + estimated maintenance fee will take roughly 39% of my net income (after deduct other commitments, epf and pcb etc.). Not sure it will be a burden. Any suggestion? Thanks 2. Would you be able to cope with reduced lifestyle? Some actually dipped into credit cards to support the lifestyle and dig a hole in it. 3. The property is located nearby the workplace? |
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