Hi, just check here. If developer lower price in the case of poor sale, is it possible for the existing buyers to ask for compensation? Anyone has this kind of experience to share? TIA
Hi, just check here. If developer lower price in the case of poor sale, is it possible for the existing buyers to ask for compensation? Anyone has this kind of experience to share? TIA
sign OTP n S&P legal binding..u think developer will compensate u?Originally Posted by Congress
Caveat emptor.
If the developer increases prices for future phases, can the developer ask you for top up?Originally Posted by Congress
In the 1980+, Cheong Kong had the price guarantee for the costa del sol at Bayshore Road.
I cannot recall the details, like they guarantee to buy back at certain price if the market dropped.
That is the only one I know so far.
Last year in Shanghai, there was a group of Shanghai home owners smashing showroom in protest over falling prices.
http://blogs.wsj.com/chinarealtime/2...alling-prices/
That will almost certainly never happen here.
Found this website about Cheung Kong.Originally Posted by Laguna
But it mentioned about the buy back scheme in Hong Kong's Laguna Verde.
http://www.presidiopenthouse.com/rea...anager/ck.html
I tot it was thomson800. Maybe I wrong. Memory failing. Should surf to check outOriginally Posted by Laguna
are you kidding? which product in the world allows that?Originally Posted by Congress
if such a program exist, CDL can ask for recourse from the buyers of Arte and Fraser can ask for recourse from the buyers for Caspian. heh.Originally Posted by price
like that no need to invest liao. win or lose will be compensated anyway.Originally Posted by kane
everyone will go buy the most expensive property that they can afford, because bao jiak. lose money can get back from developer. heh.Originally Posted by price
Chestnut is right.. It's Thomson800:Originally Posted by chestnut
Under its Guaranteed Appreciation Plan, Cheung Kong was prepared to offer buyers a 10 per cent capital appreciation in about five years for units at Thomson 800 as well as protecting buyers against price falls of up to 10 per cent. If the valuation increased by less than 10 per cent above the purchase price, the developer would pay buyers the difference.
Wondering if the recently implemented 'Lemon Law' can be applied here?Originally Posted by dtrax
I SCREAM LEMON!Originally Posted by Pikachu1245
so did any of the buyers activate the compensation clause?Originally Posted by zeamybro
By then, I think all the prices shot up liao.Originally Posted by kane
Right. It was sold in late 1998 at around $600+psf. In 2005, it transacted at around $500-$600psf. I wonder at what timeline do they set the 10% price change cutoff.
Tough.. I know the feeling. That time the developer (or marketing agency) give rebate 2%to this new sales just week after I bought.Originally Posted by Congress
I did try to get help from the laywer who does my loan contract .The lawyer wrote to developer, and developer deny it as debate was given by agency...
I think No way.
You mean the Costa del Sol by Cheung Kong Holdings sold in year 2000?Originally Posted by Laguna
For the guarantee, the developer kept the same price level during the subsequent gloomy years. After TOP, there were so many vacant units that the whole development looked very empty for many years. My ex-colleague bought the penthhouse but later had to sell at a loss.
Last edited by vip; 11-10-12 at 15:45.
The time line was 5 years after purchase. When it was sold, it was soon after the Asian financial crisis. You would have thought that things would go up after that. However, 5 years later, SARS hit. The original owners who held the units for 5 years got back 10% of the purchase price in cash.Originally Posted by kane
nice. and that 10% they got coincided with the low of the market.Originally Posted by chiaberry
Wonder got any developers offering such scheme nowadays?
The nearest to this I know is the rental guarantee for seletar park residence.
I think not likely after what happened to CK with Thomson 800. I believe they had to pay quite a hefty sum out. These days the economic cycles are much shorter and with whatever swans black white etc coming and going.....it would be a risky bet for developers to make.Originally Posted by azeoprop
Originally Posted by azeoprop
that one kachang puteh next to this 10% guarantee.
Ok bro, today I good mood. Let u in on my theory. Whenever the people go into a euphoria, we are almost at the last cycle.Originally Posted by kane
If you see this euphoria in property, start to take notice of cracks. It may happen.
Senario 2, property continues to climb, and u see euphoria in stocks,
Bro, this 1, definitely cycle coming to an end.
As for now, my eyes are opened very big and looking out for tell tale signs.
Last edited by chestnut; 12-10-12 at 05:22.
I am seeing scenario 2 as the likely outcome here. US is starting to crawl out of their rut.Originally Posted by chestnut
And because of unprecedented actions taken, it will create unprecedent outcomes.
And i too believe history always repeats itself. Just in a different magnitude.
Wah, you damn good. The next one will be super big. You know, I tell people this, they don't understand.Originally Posted by kane