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 Zen Residence, Should or Should not?

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TSvincent_ng86
post Mar 18 2009, 04:16 PM

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QUOTE(lwb @ Mar 18 2009, 04:14 PM)
hhmmnn.. ts is a "flipper". here're 2 things that hopefully you factored into before you signed on the dotted lines..

1. does the rhb loan comes with a lock-in period? if it does, you have to take that into consideration once you're selling it.

2. what is your holding power like? are you aware that both rental and appreciation is NEVER GUARANTEED?

property is a very illiquid asset and if you don't even have the minimum down-payment upfront (in some cases, a buffer thrown in would be better), you might be a little over-leveraging there.

my assumptions:
you're at a very young age (thus your 38 years loan tenure and your lack of fundings).. 1986 is your birthyear?

you have great concern about the reliability of the developer (after you signed on the dotted lines?) a done-deal's a done deal.. if i were you, questions like these should be asked before committing, not after.

anyway, if your soon to be property is not a service-apartment, it's governed under the hba (www.hba.org.my) which offers much better protection than if you would go alone against a delinquent developer.

p/s - from an investor point of view, one's own good-feeling/preference of a property is not accurate. it is your potential customers' view(feeling/preference) that makes a location SOLID..

you may love the place alot, but if you step aside and view it from a tenant point-of-view, you may discover discrepancies in preferences. imho, developing this insight will make you a better property investor.
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Haha , flipper, I nice this term. flex.gif

Too bad, my purchasing power is not enough, as for now. So I have withdrew. Updated in my previous postings.


Added on March 18, 2009, 4:21 pmI am born in 1986, still consider young, haha...

And one more importing thing, thank you.

Really appreciate your advice/view. Hope I can be successful one day.

This post has been edited by vincent_ng86: Mar 18 2009, 04:21 PM
howard82
post May 2 2009, 08:16 PM

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do you guys realise behind zens is grave yard?


Added on May 2, 2009, 8:20 pmGuys,

Not sure if you guys encounter this problem or not.

Recently i was visited to Zen Residence show house. And their show house quite impressive to me. The sales agent told me that if i like their concept, why not i pay rm1000 to book the slot first and can have sometime to consider whether want to buy or not to.

They told me the rm1000 can be refundable if i wish to cancel the booking if i want to with the condition is before the loan approved by the banker.

So i agreed and i pay the rm1000 to them and sign the application form.

after the day, i went back again and survey arround the arround. I found out that actually behind the zen residence is grave yard and infront is indian temple. Whole place was surrounded by the Kampung house where totally i feel unaceptable. I did try to walk in to Koi Tropica which is just located beside Zens residence. I found out that there are many condo are looking for buying and the price arround 180k to 220k. furthermore i also realise that inside KOI was full with negro guy arround and some with fierce faces like want to fight. so i decided to leave the price. (sorry if i say something make the resident unhappy)

after for sometime on my survey, i decided to cancel my booking. So i called the developer and i asked for refund. the developer looks like not happy with my decision and keep asking why i want to cancel. So i just telling the true to them, i try to talk nicely but starting to feel their respond become bad and bad. I was get scold by them and saying that why i dont look properly before i decide? and i told them i cant acept the graveyard behind the zens residence. They totally do not happy with me and ask me to call my solicitors llawyers to get refund by follow up myself to cancel and hang up my call imediatly without saying any words.

ok fine. so i was called to the solicitors lawyer, and my call was route to their account department. so i told the guy said that i want to cancel my booking and ask them what is the procedure for refund. and there, i get scold again, they ask me why i want to cancel it, i dont even speak anything they follow by saying me, if i not afford to buy why i still want to book, i was in piss and told them the sales agent asking me to book first and can be consider later on due to the limited choice left. bla bla bla...quite lazy to continue to type...


just want to ask is that i am the one should really get blame for this case ? i was given the selection and option to choose to pay the downpayment to book first while take my time to make decision.


Just realise one thing, when you going to buy or book, all people will treat you like god. When the time you trying to say NO or sorry i wish to cancel. You will be scold by them like mad.

i asked myself, whether i can accept the condition surrounded zens residence, and the condos cost arround 360K, in the end my answer is NO.

If you were me, what will you do?

This post has been edited by howard82: May 2 2009, 08:20 PM
Pai
post May 2 2009, 08:44 PM

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lucky u only paid rm1k, else could be burnt big time. Think the prob here is that you've signed S&P agreement right? Thats why they r angry. Its a difff story if you had not sign s&p........

For me, I'll cut my losses, consider this 1k as one expensive tuition fee, and look else where.






howard82
post May 2 2009, 09:37 PM

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QUOTE(Pai @ May 2 2009, 08:44 PM)
lucky u only paid rm1k, else could be burnt big time. Think the prob here is that you've signed S&P agreement right? Thats why they r angry. Its a difff story if you had not sign s&p........

For me, I'll cut my losses, consider this 1k as one expensive tuition fee, and look else where.
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no..i havent sign my S&P yet. I taking the time to make final decision before i Sign that document and also apply for loan.

Thanks god i found out the grave yard behind the zens and i decided to cancel.

just advise...must see proper before make any decision. This is the lesson i learn.
b00n
post May 3 2009, 12:49 AM

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That is why I always stressed on going to visit the actual side before making the decision. wink.gif
howard82
post May 3 2009, 02:39 AM

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QUOTE(b00n @ May 3 2009, 12:49 AM)
That is why I always stressed on going to visit the actual side before making the decision. wink.gif
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you are interested in which one?
jesphannie
post May 4 2009, 12:41 AM

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QUOTE(howard82 @ May 3 2009, 02:39 AM)
you are interested in which one?
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Good to see u are here also...haha...Zen also no good rite?Sure la...Atmosfera is the best ma! rclxms.gif

Gambateh! whistling.gif
TSvincent_ng86
post May 4 2009, 07:06 PM

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Have been more than 2 months now... Still haven't got my deposit back... Tried to call them again today, which I would call at least once every week, got the same old answer, will contact me back.

Anyone got their deposit back yet? I think might need to speak to Khoo directly.
yikjaan
post May 5 2009, 11:42 AM

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QUOTE(vincent_ng86 @ May 4 2009, 07:06 PM)
Have been more than 2 months now... Still haven't got my deposit back... Tried to call them again today, which I would call at least once every week, got the same old answer, will contact me back.

Anyone got their deposit back yet? I think might need to speak to Khoo directly.
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i was just decided to cancel too. how do you pay them? by credit card?
TSvincent_ng86
post May 6 2009, 11:18 AM

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QUOTE(yikjaan @ May 5 2009, 11:42 AM)
i was just decided to cancel too. how do you pay them? by credit card?
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Yeah, by card...
yikjaan
post May 6 2009, 01:26 PM

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QUOTE(vincent_ng86 @ May 6 2009, 11:18 AM)
Yeah, by card...
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well..i do ask for refund as well....just can feel that when the time you are buying and when the time you are asking for refund...the way they treat us really different.

good luck to you and me smile.gif
TSvincent_ng86
post May 7 2009, 12:00 PM

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Still haven't contacted him.. Sigh...
Pai
post May 7 2009, 01:26 PM

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vincent, how much was the booking fees? 1k?
TSvincent_ng86
post May 7 2009, 04:37 PM

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QUOTE(Pai @ May 7 2009, 01:26 PM)
vincent, how much was the booking fees? 1k?
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Yeah, just got a call from them. Should be refunding to me these 2 days...
zkchong
post May 7 2009, 11:47 PM

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Btw, is it really a problem to have a graveyard few km at the back and an Indian temple few km at the front?

Feng shui not good? hmm.gif


Ultradude
post May 8 2009, 08:21 AM

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QUOTE(zkchong @ May 7 2009, 11:47 PM)
Btw, is it really a problem to have a graveyard few km at the back and an Indian temple few km at the front?

Feng shui not good? hmm.gif
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self preference. Some dont mind to exchange small spot of graveyard or indian temple in their eyesight whenever they step out to the balcony for lower density and tighten security. Some prefer a location close to main road and shoplots in exchange of 700 units density, sharing a half olympic size pool. It's your preference after all
keithcky
post May 8 2009, 09:21 AM

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too many cancellation, bad for developer.

Due to the bad location

Even if zen are selling at 200k i would not even consider.


Pai
post May 8 2009, 10:29 AM

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QUOTE(keithcky @ May 8 2009, 09:21 AM)
Even if zen are selling at 200k i would not even consider.
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to be fair, its not that bad, i'd pay 200k for Zen smile.gif

Personally think the dev got it wrong when it come to the size, its above average built up sums up to a pricey price. If they had made it from 900sqf and above, think Zen should be a decent buy.

Ultradude
post May 8 2009, 11:51 AM

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QUOTE(Pai @ May 8 2009, 10:29 AM)
to be fair, its not that bad, i'd pay 200k for ZenĀ  smile.gif

Personally think the dev got it wrong when it come to the size, its above average built up sums up to a pricey price. If they had made it from 900sqf and above, think Zen should be a decent buy.
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900sqf i dont think is a good plan IMHO. Reason being, they cant target for investment market with the location. For own stay customer, 900sqf i think is too small and I think they want to create a sense of "higher class" with the above average built up. If not, with that location and surrounding, hard to sell.
The project isnt that bad, but the draw back of location, surrounding and price tag, enough to turn most ppl off.

my 0.002 cent

This post has been edited by Ultradude: May 8 2009, 11:53 AM
Pai
post May 9 2009, 11:29 AM

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QUOTE(Ultradude @ May 8 2009, 11:51 AM)
900sqf i dont think is a good plan IMHO. Reason being, they cant target for investment market with the location.
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Dont understand what u meant by "cant target investment market". Anyway, I've seen time and time some smart developers manage to sell their units much quicker than other similar developments despite being more expensive. Basic maths ---> Smaller units equates to lower entry price, and lower entry price will have bigger pool of buyers.

Hence explains why I can only afford to invest in studio's if I wanna buy a unit located in a prime area. tongue.gif

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