So I got allocated a unit during a property launch here in Iskandar Puteri. The next day I was told all sold out dy. Probably because they sell cheap at a nice location

The completion is Q1 2027 so I want to know when will I need to pay those progressive amount. Is it once every quarter?

Article below was written well but it's not clear to me when is the timeline to release payment...

https://www.propertyguru.com.my/property-gu...y-malaysia-6943



This post has been edited by knwong: Aug 15 2023, 12:48 PM

follow the payment schedule - no diff from bank loan

Yeah I'm aware of that...just like the schedule in my first post...but what I don't know is when from now until Q1 2027 will they ask for the payment...

I want to allocate to allocate & move around my savings accordingly

Cash buyer, you pay according to the completion percentage. You will need an estimation of completion date for each phase eg (1 - Dec 2025, 2a - Aug 2026, 2e...) from the developer. They will have the estimation schedule but usually will run off a few months. Based on the schedule, you will need to make sure your funds are available when the time comes. THEY HAVE A SCHEDULE. . You will also need to have their finance contact no that handles the collection to make things easier for follow up. Basically they will treat you like a bank and ask for release of payments to them when they finish each % as stated in the paper.
It should be placed on the next column next to Amount. The developer will have the schedule, if you are buying from reseller or outsourced reseller from the developer, he /she might not have it.

This post has been edited by Capt. Marble: Aug 15 2023, 01:16 PM

Thanks for this information. Very clear

Yes I'm buying direct from developer. Will follow your advise and make sure to get the schedule with ECD on this

This residential or commercial?

Service apartment

You will also need to ask for their terms of payment (14-30 days???) when they bill you upon completion of each % as stated. It's not an immediate next day payment so don't worry. For my case, the documents were sent by snail mail for each bill which is bad but lucky also voice call each time from their collection dept.

Ok, then subject to the developer claim upon completion of each stages. Keep your money where u get most return first. Developer claim have notice period for you to pay. But if late, they charge daily back calculated interest.

I bought from the same developer before so I know they'll use registered mail...

Thanks for another great info...will check with them on that...14 days is a bit short...thought it's standard 30 days

Thanks. I know they will exercise the daily interested charge because I heard for other property last time, a new tenant complain when VP time can't come collect key during COVID lockdown

Ok, good luck and happy investing.

You will not get the schedule coz certification is according to the Construction Progressive claim based on Architect Certification . Sometime it will be ahead, sometime it will be delayed. As soon as you received the notice, you need to clear the payment within the time frame , the date start from the Arch Certificate date.

For your info, later stage of payment will be exponential, do expect more frequent billing from 50% completion onwards.

pls plan a visit to the site whenever possible to evaluate the payment.
do challenge it if it is not up to progress % as claimed

Interesting...can buyer challenge this? Based on what?

based on the completion. e.g road leading to the property, it's not even tarred yet - challenge this!