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 Bukit OUG Condo, Any information?

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smsam2
post Apr 25 2011, 01:08 PM

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Hi guys

A quick question.

Anyone knows if there is any problem in transferring to the new purchaser's name if I sell my unit now?
With the news about individual title about to be issued, I am afraid if the name transfer will be stuck and I will be able to collect only the first 10%.

Any advise appreciated.

Thanks
Sam

smsam2
post Apr 25 2011, 02:04 PM

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QUOTE(michimich @ Apr 25 2011, 01:54 PM)
Bukit OUG got white ants, full of it. thats why its so cheap.
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Ayoyo bro

Very unconstructive leh... rclxub.gif

If you know the answer to my question, much appreciated.
If not, at least give some constructive comments.

Sam

smsam2
post Apr 25 2011, 02:48 PM

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QUOTE(22222222 @ Apr 25 2011, 02:27 PM)
You may request the liquidator direct charge new buyer name to the title.
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Thanks bro.

The liquidator is HLB Ler Lum?
They have been doing this like a few years now, and not sure how much longer they will take. If assuming they take another 6 months, does it mean that the bank will not disburse the borrower loan amount (i.e. pay me the full amount).

I am coming from the angle where if it is going to take a long time for me to collect the full sale amount, I might as well hold off selling until I confirm that the SnP duration is the normal one as I believe the price is just going to increase in the future.
If I can collect the entire sale amount in a few months time, then I will proceed with the sale.

Any suggestions from the recent buyers and sellers?

Thanks
Sam

smsam2
post May 3 2011, 11:47 PM

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QUOTE(22222222 @ May 3 2011, 11:23 PM)
Yup....800 included lawyer fee....

Now u oni pay 1% , last time i needed to pay 2% neh....teruk then u....

NVM, we increase our selling price 5% more to cover the fee.....wkwkwkwk...


Added on May 3, 2011, 11:30 pm

Maybe u r right.....but bro becafu oh "new development" oso got risk....who will know wat will happen in this 3 years time.....job delay...or stop work.....

But anywhere congratulation to you move a step to buy ur dream house.....good move...bro...
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1% based on what price? The original S&P price, or the subsale price, or auction price?
Anyone's unit is via auction?

smsam2
post May 4 2011, 07:21 PM

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QUOTE(22222222 @ May 4 2011, 06:49 PM)
Yes....is same.....for Liquidator site they called as verification fees (Nice description).....for ours buyer site we did not know this fee for wat....we always call is as "liquidator fees" (Pay for nothing... sad.gif ). Last time they collect 2% of SnP price (For first transaction of each unit).....after JMB bargain with them they are agreed to reduce to 1% of surveyor value (I think), in order to make more owner transfer their unit to strata title. (Make more money)

How long is depend to the lawyer and our owners loh.....wat i understanding that normally it will go by group, if out of 30-40% of total units paid + MOT, it will very fast.....of course is oso depend to that lawyer. (The lawyer is from liquidator)

Pls take this opportunity to change your title, i heard that after 1st or 2nd batch successful to transfer the title.....Possibility the verification fee will resume back to 2%.
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Are they contacting us, or we have to call them for the title arrangement?

The last time I check with my lawyer, (when they asked for the 2%), I was told not to pay since there is no guarantee that they will transfer the title for you).
Those who paid, did the liquidator give any commitment, example, if title fail to transfer after certain period of time, the money will be refunded?

Thing with OUG is that there has been a lot of activities going on, and many parties have been collecting money, but nothing gets done.
Of course, things are a lot more better in the last few years, but that does not mean we need to part with our hard earned money.

If the liquidator can guarantee the strata title, those whose not paying yet, please do so. Its for the benefit of all.
smsam2
post May 8 2011, 09:35 PM

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QUOTE(babymiki @ May 8 2011, 09:18 PM)
how can we check wether have we paid for the liquidator fee anot?
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Looks like babymiki just got a new unit.
If it is, congrats. Personally I think those entering Bukit OUG now have a good deal. Price appreciation is almost certain, downside risk is quite minimal.

By the way, can some forummer update here if Lerlum contacted you for the payment? It's been so many years, I am not sure if they even have my updated mailing address.

Don't feel like contacting them. Sure they will ask to pay first, and talk later :-)


smsam2
post May 10 2011, 10:39 AM

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QUOTE(vince8307 @ May 9 2011, 10:44 PM)
ya~but that time the property value not damn high like now wat.... hmm.gif
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1997 is 14 years ago. Property prices will always adjust higher barring any negative circumstances. So price appreciation now is not a surprise. If anything, Malaysia lags behind other countries in property price increase.

If anyone thinks the high price now is not favourable, you'll in for another surprise when we go through another round of appreciation.

In many countries, unaffordable homes are a common bane. We are lucky in the sense we have a lot of government built or controlled homes. Once this is taken away and market forces alone dictate home prices, I can only say, 'brace for impact'.

Its easy for armchair analyst to say don't buy now because price has went up so much. I think everyone knows the adage, 'buy low and sell high'. Same goes for stocks, commodities, currency, unit trusts, and any other form of investment. But when is high, and when is low?
And remember, there is a big difference between investing in a home as opposed to those aforementioned. You can stay in the house you bought until the price is right.

At the end of the day, I'd say, if you can afford it, anytime is the right time to buy a good location property.

smsam2
post May 10 2011, 12:16 PM

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QUOTE(concern1 @ May 10 2011, 12:06 PM)
Dear Friends of bukit oug,
i believe there are quite a number of foreign immigrants residing in Bukit Oug without legal permits.
i wonder what is the management doing bout it.

recently , i received flyers saying that there was a break in  at block 13. the management claimed the person responsible for this break in is living within bukit oug. the management wants us to help by reporting to them if there is any suspicious  person hanging around.. i feel its stupid because there already know that there are lots of foreign immigrant within the building and they are the first to be suspected and the management should work hand in hand with the imigrattion to take actions against them. (THIS IS THE FIRST DUTY  THAT THEY SHOULD ACCOMPLISH IN ORDER TO MAKE BUKIT OUG A SAFER PLACE FOR ALL RESIDENCE)

further more, i believe once the foreign immigrants are out of bukit oug, the property will be better in value too.
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Agree. In fact, it should be management should work with immigration, police and local residents of OUG.

In fact, residents/owners play a big part. I've heard many complaints from residents about guards being too strict with regulations, and yet, lambast them when they see foreigners (illegal or not) in their compound.
Owners who do not stay in OUG will rent their units to just anyone, and that make the problem worse.

Unfortunately, this is a common thing in Malaysia. We can only hope that with the price and rental increase, the illegal immigrants will be priced out of the OUG market. To all owners who are renting their units out, please only rent to credible tenants. You actually make more when the overall quality of the condo improves. Ask yourself this, if the immigrants do not move out and are not paying rent, what can you do? You loss will be hundreds of thousand instead of the forgoing the thousand plus rental a month.

Simple math man. Think about it!!!

Sam

smsam2
post May 10 2011, 03:40 PM

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QUOTE(kok_pun @ May 10 2011, 02:57 PM)
southeast, maybe?
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Anyone knows what is the bank's valuation on Bukit OUG 1222sf?


smsam2
post May 16 2011, 04:09 PM

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QUOTE(keithcky @ May 16 2011, 03:57 PM)
I think the four blocks 31-33sty are Kiara Residence two.

It's getting crazy now very soon can order one Q7 already lol

Btw, what is the status of last week carpark balloting ah? I Ada dapat ke tak pun tak tau

Btw I don't even know where my carpark is? No lot number in my S&P tim. Management office tau ka?
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Hey Keith

You just bought your unit? If so, congratulations.

yes, you can check with the management. They will know your car park lot.

Sam

smsam2
post May 16 2011, 05:47 PM

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QUOTE(22222222 @ May 16 2011, 05:06 PM)
Early 2010.....if not mistaken that time oni sell at 120 ~ 140k......now u untung banyak oh....bro..... biggrin.gif

The balloting result will be publish out at notice board soon, u can check ur taiko unit on the list or not.
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Wah... the name transfer took a year...

That's why I also did not aggressively sell it. I suspected it will take a year or so as well. That being the case, I think I prefer to hold until the price stabilises before selling it off. Am optimistic the price will increase for at least more.
That's what I wish anyway :-)


smsam2
post May 18 2011, 09:34 PM

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QUOTE(keithcky @ May 18 2011, 07:20 PM)
user posted image
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Actually I think all these development may be too much for Bukit OUG, and may adversely affect the price. While I am sure the price will rise further, but too much development may cap the raise (may be like instead of 400psf to just 350psf, know what I mean?)

Gosh, from a density of 60 to 500 people? That is like 800%. Even with the opening of roads to major surrounding areas, and the completion of the LRT, can these support the much higher density?

I am opined that there should be a time when we say enough is enough, and start to protest all these development.

It will be bad if Bukit OUG becomes Bukit condos (full of condos, that is)


smsam2
post May 19 2011, 11:14 AM

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QUOTE(pohang @ May 19 2011, 10:57 AM)
Ada betulkah 1222sqf 150k i fast3 go lo!!!!
Early2 they post in i-property, i already called, they said "low floor soo budget 190k" wo. hmm.gif
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190k budget is definitely not enough.

Last auction 1465sf auctioned for 246k. No doubt higher floor, but Bukit OUG 1st floor is actually 3rd floor from ground since there is a commercial level, and the car park is elevated. This unit is second floor. By psf, the equal amount is 205k. Also, 122sf is limited, and generally is in more demand, though to each his own.

Unless you are lucky. There are only 2 bidders, and you can try to work it out so 1 party pull out. I hate to say this, but most of the time, the 'ulat' at the auction site can help you identify and negotiate the cooperation, though at a fee. Normally 1K.


smsam2
post May 19 2011, 02:27 PM

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QUOTE(burn22 @ May 19 2011, 02:18 PM)
1. i have no problem with the new car access system. this is to protect the residence. even when having valid car sticker, the guard did the right thing to stop you from doing so. it shows, there is no favoritism. you make a mistake, and wanna blame others. notice were given to inform residence regarding the access system. just because you left the access card at home, this not give you the right to go in or out as you please. there are rules to follow. you're at fault!

2. the 50 buck are refundable when you no longer stay there. anyway, nothing comes free in this world.

3. facilities are well managed after new management took over. it need time and money to start implementing things that was left out. water? i do not have any problem with it.

4. burglary happens everywhere. not only in one place. anyway, newly camera system have been installed at the entrance, exit and inside the lifts. ppl need to work together to solve this problem by informing the guard if seeing something suspicious.

5. i pay extra to get another parking lot inside. i have no qualms over it. it is the management rule. you want convenience, pay for it. if wanna complaint, park outside. it is as easy as it is. no one is forcing anyone to park outside. as ppl use to say, park at ur own risk.

i have been staying here for 16 years. yes, during the early years, there are hiccups! it happen everywhere, not just only this condo. now, have seen much improvement. it is getting better each day as long as residence pay their maintenance fees for the management to start improving the place. this is my experience. the condo have chinese, indian and arab makan stores, mini markets, sundry shops, laundry services, piano classes, cyber cafe, gym and so on. i have morning "nescafe" most of the time downstairs, and have a walk in the garden every morning or late evening.
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Well, in all fairness, giantdan's comments (or complaints) are a year old. Even if it seems harsh then, I am very sure things have improved by leaps and bounds today.

It's good that residents of OUG speak out and share his experience. The naysayer and yeasayer can say all they want, but nothing beats the testimony of an actual resident.

Thanks burn22 for your comments.

smsam2
post May 22 2011, 05:38 PM

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QUOTE(vince8307 @ May 22 2011, 03:09 PM)
Bro Keith, u lost to Sky Yim ady, ppl put the price up to 260K (RM212.76 psf)  shocking.gif for 1222sf already ler~hahaha brows.gif
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Anyone knows what's the winning auction price last week?


smsam2
post Jun 13 2011, 09:16 PM

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QUOTE(LA03 @ Jun 13 2011, 09:12 PM)
i  am one of Bukit OUG owners and hv not received any letters on application of strata title. the deadline is set by who? i bought a unit 5 years ago
is your lawyer also the same lawyer that prepared the SPA for you? do i now contact my previous spa lawyer. TQ
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I was told by a lawyer that normally for strata title, it goes back to the loan lawyer as you will have to deal with the bank who gave you the loan.
you get at least 50% discount on the legal fee. But if we came in a group, sure the lawyer do not mind giving bulk discount.

Anyone has any experience?


smsam2
post Jun 15 2011, 06:35 PM

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QUOTE(smsam2 @ Jun 13 2011, 09:16 PM)
I was told by a lawyer that normally for strata title, it goes back to the loan lawyer as you will have to deal with the bank who gave you the loan.
you get at least 50% discount on the legal fee. But if we came in a group, sure the lawyer do not mind giving bulk discount.

Anyone has any experience?
*
ok. fyi

Received the letter sent out by JMB today.

Gist:
Ler Lum fee is blanket 1% for those accepting their 'offer' by 31st July. Thereafter, will need to contact them directly and negotiate yourself.
1% is only applicable for those SPA before 3rd August 2003. Any SPA after this date, will also need to contact them and negotiate directly. Anyone done that, please update here what Ler Lum is charging.

JMB recommend to use lawyer Bessie Loo Associate to facilitate document submission. Fee for Bessie is not known. Anyone knows the approx fee, please update.
Note thatit is stated Bessie Loo is only to facilitate document submission to Ler Lum. I am not sure if we need to pay another lawyer to deal with the bank (for those still having loan on the property). I guess likely you will need to (again, anyone who knows for sure, please update).

Back to my earlier suggestion. What if we appoint a single lawyer to handle everything and get higher discount? I understand there is a lot of documentation needed to be done, thus the high fee. But if a single lawyer doing for multiple owners, it's basically just xeroxing the documents, and changing the names only.

Any takers? Gotta move quick cos deadline for submission to Ler Lum is 31st July.

Sam

smsam2
post Jun 15 2011, 06:55 PM

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QUOTE(smsam2 @ Jun 15 2011, 06:35 PM)
ok. fyi

Received the letter sent out by JMB today.

Gist:
Ler Lum fee is blanket 1% for those accepting their 'offer' by 31st July. Thereafter, will need to contact them directly and negotiate yourself.
1% is only applicable for those SPA before 3rd August 2003. Any SPA after this date, will also need to contact them and negotiate directly. Anyone done that, please update here what Ler Lum is charging.

JMB recommend to use lawyer Bessie Loo Associate to facilitate document submission. Fee for Bessie is not known. Anyone knows the approx fee, please update.
Note thatit is stated Bessie Loo is only to facilitate document submission to Ler Lum. I am not sure if we need to pay another lawyer to deal with the bank (for those still having loan on the property). I guess likely you will need to (again, anyone who knows for sure, please update).

Back to my earlier suggestion. What if we appoint a single lawyer to handle everything and get higher discount? I understand there is a lot of documentation needed to be done, thus the high fee. But if a single lawyer doing for multiple owners, it's basically just xeroxing the documents, and changing the names only.

Any takers? Gotta move quick cos deadline for submission to Ler Lum is 31st July.

Sam


keithcky Posted Today, 06:45 PM

Bessie Loo is certainly recommended but they dont give discounts


Still what is Bessie Loo fee?


smsam2
post Jun 15 2011, 09:36 PM

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QUOTE(22222222 @ Jun 15 2011, 09:29 PM)
Anywhere when you purchase ur unit? b4 03/08/2003 or after?

Wat i understand that for those who purchase at 2006-2011...confirm verify oledi ...no need do this step again.....but for 2004-2005 i am not sure...?

For those who want to know whether his/her unit verify or not, jz give Ler lum a call ask the PIC and provide ur unit no, they will tell u the result.

The deadline 31/07 jz for verification stage oni.....not go to application strata title yet......

The cost will incurred for this process
1) 1% of market value adjudicated by valuer
2) Lawyer fee RM315
3) Processing fee (CTC copy for all the documents requested)
4) If employ lawyer bessie loo ass....addition cost (jz give them a call get quotation from them, but anywhere u needed prepare all the documents oso)
5) Outstanding balance of maintenance fee (if not fully clear)
After verification was done..... next step then will go to application strata title......and  lawyer fee and stamp duty will be incurred again, but will in discounted rate.
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Mine is b4 03/08/2003

I guess will have to call Ler Lum and ask.

Anyway, anyone want to explore the idea of pooling together and just go with one lawyer, please email me smsam2@yahoo.com

Thanks
Sam

smsam2
post Jun 22 2011, 03:12 PM

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QUOTE(stevenkkt @ Jun 22 2011, 09:58 AM)
Will it go so high?!
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Will it go that high? That is the question all owners of OUG are asking.

However, I've been in the market long enough to know that with right time and right place, prices have risen to levels that no one thought possible 2,3 years ago.

If the surrounding development all bring value to OUG area, and the trains delivers, and with it attracts better occupants in Bkt OUG, the potential is there.

However, if one of the new condo starts causing problems like landslide, then it's a different story.
But how likely is that?

I am quite optimistic of Bkt OUG, and will hold on to it. Unless there are signs that things are turning for the worse...





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