Quite unlikely. These days, bank managers are not as powerful as they used to be.
They're all subjected to HQ's direction now.

Just so happens this year, BN issued directive to tighten lending in all forms, loans and credit cards including, thus, purchasers will be subjected to more stringent credit check. I am not sure if they've also implemented the directive where your credit limit is based on nett income and not gross. And I think it is 50% of your nett income (i.e. your take home pay)

Main thing is, make sure you minimise your borrowings, especially cc and balance transfer, as those are short term but they do impact your credit rating.

Hmm... how could this happen? If the seller is not the owner to begin with, your lawyer would know immediately when the check with the liquidator.
I suppose some traveling, documents costs, etc will have to be paid, but definitely not the 'entire' legal fees.

This is the first time I come across a case like this, where the seller is not the owner. How do you NULL and VOID a SnP? The owner must have paid for the unit somehow, cash or bank loan, and the money would have to be paid to someone.

Sounds kind of fishy....

Yup. But what baffles me are those owners who refuse to pay the liquidators fees for the verification exercise. I am not saying that the fees are justified or not, but the liquidators are appointed by the court, so you are subjected to their verification regardless. It's not like you get to choose whether to engage them or not.

The earlier your unit is verified, the better. You may not need the money now, but when you do need them, your reluctance now may come back to haunt you. 1% or 2% of the sale value is nothing when you have 300k locked or delayed because you cannot sell the unit.

This is the picture I took couple of days ago.

The multipurpose hall and the lrt pillars are coming up nicely.
There will be not one, but TWO lrt stations within walking distance to Bukit OUG.

http://imageshack.us/photo/my-images/850/m...allconstru.jpg/
http://imageshack.us/photo/my-images/205/l...structions.jpg/

Congratulations!!! If you do not know the current price of your unit, you've just struck lottery.

Sam

I have a carpark for rent.

Interested? sms me at 0122178108
Thanks
Sam

Because we complain kau kau to DBKL and they compromise by sponsoring our repainting.

On a separate note, but related topic,
for those who wants to know.

Auction on 7th May 2012, 6-3A-3A, 1465sf close at RM322k
RM220psf, and further more auction unit.
Looks like OUG price is charting a new high.

Sam

No idea. But auction unit, no kua.

Loan agreement is dated long time ago. Must be one of the units not stayed before, and in original condition.

Going by the traditional auction properties discount of 20% off market price, once title out, can easily expect RM260/sf.
Once repainting done, another jump.
Once LRT starts, wa lau.... you do your own calculation.

Hi

I have a unit Block 2, Level 1 for sale.
1222sf, 2 aircon, 2 heaters, plaster ceiling whole living room, and tile kitchen top.
1 car park very near to guard house (viewable from guard house).

For sale RM280k (negotiable upon viewing only).

Ownership verification done, and bank loan will complete in Oct 2012, so paperwork will be very fast.

Thanks
Sam
smsam2@yahoo.com

Unfortunately, most buyers will just look at price when they make the purchasing decision.
Verified or not, they are not interested until they've made the purchase and want to transfer the title, then WHAM!!! got stuck.

Hmmmm are you sure its because of no strata title, thus no loan?
Not sure about OCBC, but various other banks offer loans for OUG.
Question is what's the valuation?

I have no shares in CIMB, but they are pretty aggresive.
Gives good valuation and will go for OUG.

Just make sure you qualify for applied amount after Bank Negara net income qualification.
That they do observe pretty strictly.

Good luck.

Sam

Both are correct.

PBB will give loan for OUG, but gives low valuation.

CIMB will give higher valuation.

Have you signed the Letter of Offer from PBB?
If so, I think they have to honour it.

While there is a term in the letter that says the bank reserves the right to pull the facility, I would think only if it is within reason.
I would find out more from the bank itself, and if confirmed, get them to reply formally.

No choice.
Work with the lawyer for a discounted fees and solve the loan first. Remember that the vendor has the right to cancel everything not completed within stipulated time.
Once everything is ok, file with Bank Negara or Financial Mediation Bureau. Make sure you have all the documentation to back your claim up since you are the claimant.

I did that once (some other disputes) and the bank (not PBB) paid me back like RM800

Sam

aiyo if u got cash to pay everything, do it.

later shop around for a better loan deal. got cash, no problem ler.

Aisey brother

The cables and intercom set is all connected. Just no system (back end) put in place to make it work. I guess once they're all connected to the intercom system, the phones should still work. Actually good that they are getting people to register for the service, let's just hope it does kick off.

Sam

Hi Kohsin et. al

MY contractor charges RM8/sqft, skirting RM3.50 labour. Tile 2'x2' is about RM10/peice if get from him. I suggest you source your own tile, from tiles warehouse. sometimes they have sale and you can get 1 for about RM8
Let me know if you'd like to try him.

Anyone can get cheaper?

Thanks
Sam

Agree. Normally I just engage his services and I get my own tiles.
1. can choose from warehouse (though the cheap ones, not many choices)
2. i can sign card and get some rebate. Not much, but better than nothing.

I am just comparing the labour. I have absolutely no idea if his fee is expensive or cheap.
I did get 3-4 quotations, and his is cheapest.
Like I say, if anyone of you have a contractor, reliable and cheaper, do let us know (or at least pm).

Cheers
Sam

Anyone looking for a unit to rent in B.OUG?
Tenant moving out end of March. Block 13A, level 2.
Unfurnished, but with kitchen concrete table top. 1222sf. Asking RM1.1k

Please email Sam
smsam2@yahoo.com

Thanks