Hi Condo SG Members,
May I know what would happen if the developer missed the TOP date?
Newbie
Hi Condo SG Members,
May I know what would happen if the developer missed the TOP date?
Junior
dear brother kellogs, I am so happy you ask this question here and seek the knowledge of our great brothers (except basic or richie$$$) in this forum !Originally Posted by kellogs
i believe the terms and conditions are set out in your purchase contract with the developer; including your payment schedule. Most developers have various provisions for a change of plan or delays. The key issue here is whether the delay is reasonable or is it something completely under control.
you can ask your lawyer about it
Note that TOP is not completion date. TOP is temporary occupation permit- that means temporary in case any thing happen Authority can still ask you to vacate the property hor. legal completion should take a few more years/months depending la.
Last edited by blackjack21trader; 20-12-11 at 17:05.
Junior
in addition, teach u a little trick lah.... ask your lawyer to bother the developer office lor...and ask the innocent question why the delay many many times lor...WOAHAHAHAHAAHAHAHdear brother kellogs, I am so happy you ask this question here and seek the knowledge of our great brothers (except basic or richie$$$) in this forum !
i believe the terms and conditions are set out in your purchase contract with the developer; including your payment schedule. Most developers have various provisions for a change of plan or delays. The key issue here is whether the delay is reasonable or is it something completely under control.
you can ask your lawyer about it
Note that TOP is not completion date. TOP is temporary occupation permit- that means temporary in case any thing happen Authority can still ask you to vacate the property hor. legal completion should take a few more years/months depending la.
Junior
But then again, why bother if the delay is not significant since you can hold back the last payment lor....WOAHAAHAHAHHAHAHA
Senior
Its significant if its cash flow problem... if not ready, means cannot sell current place so creating a bottleneck... maybe urgent need to sell in face of falling housing prices...
Junior
can lah...can still sell before completion last time ..but now with CM4 and CM5 I do not think is wise thing to do the flippers stunt liao lor..anyway brother ysyap:Its significant if its cash flow problem... if not ready, means cannot sell current place so creating a bottleneck... maybe urgent need to sell in face of falling housing prices...
CHOY ! TOUCH WOOD ,TOUCH WOOD!
WOAHAHAHAHAHAHAH
Senior
Lol! ok ok...
Junior
owner just have to wait if expected TOP is missed or delayed.
if developer miss the legal completion date, LD charges will be imposed on the developer by the owner. (liquidated damages)
Senior
If the developer also happens to miss the 5 year time line from the award of the land tender, I believe the authorities will come after the developer also.
Junior
Check the S&P for the TOP date
and developer misses it, they hv to pay interest on the sum paid (if Im not wrong) at certain interest rate......
all should be in the S&P
but rarely happens in Sg
which project?
Newbie
Actually I am looking forward to move in and not selling
I have been waiting for it TOP for the past 3 years and if you searched my past posts you would know which project that is.
31st of Jan was the legal agreement on TOP date. Legal completion is 2015.
I just wish it to be done ASAP
Exalted
i tot stated in S&P?
smthing like developer will pay u 10% int of watever money disbursed.....
check ur S&P
Exalted
really took a long long time.....feel sorry for uActually I am looking forward to move in and not selling
I have been waiting for it TOP for the past 3 years and if you searched my past posts you would know which project that is.
31st of Jan was the legal agreement on TOP date. Legal completion is 2015.
I just wish it to be done ASAP
i pass by ur project last wk and looks like they cant TOP by end Jan......more like March.....gd luck
Senior
Roxy Homes is infamous (at least to me) for being very slow in construction. Usually completes projects on the year of TOP... Florentine also by them and it completed only in 2011, same year as its stated TOP but not sure if its after or before TOP. All the best to you.Actually I am looking forward to move in and not selling
I have been waiting for it TOP for the past 3 years and if you searched my past posts you would know which project that is.
31st of Jan was the legal agreement on TOP date. Legal completion is 2015.
I just wish it to be done ASAP
Junior
Just wait until TOP lor.
You should take note of the date of legal completion and most developers build in lots of buffer. TOP is just an estimated date.
Newbie
Hi Devil Bro,really took a long long time.....feel sorry for u
i pass by ur project last wk and looks like they cant TOP by end Jan......more like March.....gd luck
Indeed is very long ... my daughter is already 3 years old ... and son 5 years old ...
such a small project and yet takes years ... I really salute those big dev like CDL ... they built the arte at no time ... I should have settled for that instead.
Exalted
gd things worth waitingHi Devil Bro,
Indeed is very long ... my daughter is already 3 years old ... and son 5 years old ...
such a small project and yet takes years ... I really salute those big dev like CDL ... they built the arte at no time ... I should have settled for that instead.
TK no more enbloc for time being
u can enjoy ur new home and serenity for a long time
东方
Big project feel is different from smaller boutique ones. I think you wont regret your purchase. Passed by the last time it feel so peaceful overlooking the park connector and longkang...Hi Devil Bro,
Indeed is very long ... my daughter is already 3 years old ... and son 5 years old ...
such a small project and yet takes years ... I really salute those big dev like CDL ... they built the arte at no time ... I should have settled for that instead.
Junior
Indeed, boutique demand is going to surge very very soon. How so ? It feels like a landed but has the security of a bigger condo. Your humble brother here already unloaded all bigger condos liao lah.
Senior
if the slow construction is to ensure proper and good workmanship then its worth waiting ...
you dont want another "seaview" quality ...
also ...
the question didnt not exclude Basic or Richie$$
i dunno why someone has to mentioned them .. clearly its to start another war on a new thread ...
totally unnecessary and uncalled for ...
Senior
Care to explain more why u think boutique demand will surge? Me now undecided between small or mass market project!
Senior
Stocks is like zombie. I would rather put cash into properties. You should buy landed.
Newbie
i once stayed in a small project. everyone knows each other and this is nice.
1 problem is the higher maintenance fees we have to fork out compare to bigger project
The hope of a boom in boutique demand, with a landed feel and condo security, reflects a smart move. Unloading larger condos indicates a deep understanding of market dynamics. Excellent strategy!Fm Whatsapp Download
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