Could it be that some specifications did not pass the inspection and major work need to be redone.Originally Posted by Lowi
Ultimate Underdog
Could it be that some specifications did not pass the inspection and major work need to be redone.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Newbie
does progress payment also work in the reverse i.e. Reversal of every stage I paid I get refunded?
Newbie
lowi..do u want to take legal action? we can share
Newbie
dear all,
I have patched things up with babyt....he has accepted me back as close friend......
babyt...thanks for accepting my apology.....
Thanks to choubx too.. he is the 1 initiating us to settle all the differences..
Ultimate Underdog
I read in earlier threads the legal TOP date is 2018. Expected TOP dates can change.
Might need to check with lawyer if there is a case to fight.
TOP later is irritating but at least 40% of loan not disbursed. Can save up in the meantime.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Newbie
ya...the building is completed..yet we cannot move in....we need to bear the bank interest....this is unfair...
Ultimate Underdog
Nowadays lots of newly built condos got issues.
Some issues maybe cannot let people move in then rectify.
And warranty only begins after moving in so by then the major issues should have been dealt with. I am not sure but the developer might be trying their best to manage some of these issues since it's not to their advantage to delay so long.
When they say 2018, it might end up 2017. It's still far I know.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Newbie
They can rightfully delay till the stated handover and TOP dates so I don't think there are grounds for us to send any lawyer letters. Anyway a delay might be good as we only borrowed very little and if the interests rate goes sky high we need not pay more.
Newbie
yeah they have the right to delay....we, buyer, too have the right to chase....we have waited for 3 years ...the building is ready but the developer yet to handover the key to us....
the agreement must be fair mah....3 years already still cannot move in....come on, this is just a small project....80 units only....y drag until 6 years? is that fair to the buyers?
i will check with the lawyer on tmr..
Newbie
Just treat it as failed investment...dump so much money for downpayment.....all the money dumped into the sea...3 years already, still cannot get key....80 unit of mickey mouse, small development...
Newbie
Why failed investment?
Ultimate Underdog
OK now they say poor rental market.
Just hide in vacuum until market stabilize then come out.
Unless you renting in the meantime.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Newbie
I don't understand your logic " just hide in vacuum until market stabilize then come out"? When will it be? I rather rental it out now to get some income rather than waiting for market stabilize. Beside we still have to pay for installment. I think for those who get 80% loan, their installment must not be little now.
Ultimate Underdog
I think all those in your shoes will prefer to have the unit available for rental or utilisation. I would too.
What I am saying is in this case, can only look for the other "positive" angle to look at it or to seek legal counsel to see if something can be done since it is not going to TOP as yet.
The three laws of Kelonguni:
Where there is kelong, there is guni.
No kelong no guni.
More kelong = more guni.
Newbie
Ha...ha... Ok ok thank.
Don't know it s the main contractor no good or the developer is not experience one.
Newbie
This is a failed investment for me...hv waited for more than 3 years..cannot get key...really is a laughing stock..
Newbie
I just wonder why developer can't hand over the keys, I tot the construction is completed. I have another concern, when a building left it empty too long may effect the quality of the building. I hope it won't happen.
Newbie
Handover later means the warranty period start later, so we can see if the quality can stand the test of time if its empty longer?
Newbie
Rontan83 aka Wongwong aka Geylangproperty, why u created so many nicks to talk to yourself?
Newbie
the gates have become rusty...tiles at swimming pool broken..
Newbie
Under warranty mah. The later they hand over after completion the more time will lapse and show us what needs rectification if any.
Newbie
Any buyers for #1 loft here? I have managed to convince 2 buyers to accompany me to meet the developer and to chase the developer to handover all the apartment units....
Buyers, if u want to join us...pls pm(private message) me your contact immediately
Newbie
cannot get key loh....3 years already for this kind of tiny development....i was cheated by the agent....the agent told me that i can move in by December 2015...this statement back then, convinced me to pay the huge downpayment using all my savings.... ..really bullshit.....i hv learnt a lesson here..In the future, if i want to upgrade, i will only consider subsale....nightmare buying this project..
Last edited by rontan_83; 23-01-16 at 07:56.
Newbie
Did you ask the agent to sign on what he says? Now haven't TOP with the price stagnant the loan amount utilized is less and you pay less installments no good meh?
Newbie
I hv got no place to stay...
Newbie
Lowi.. ...untrue and misleading....u r wrong...the rental market at lorong 24 is quite strong....if all the buyers can get the key faster....they will gain profit earlier by renting out the room...if the bank loan installment is $1700 n renting out at 2600, each buyer can gain $900......one year each buyer can gain $10,800.....the amount is quite significant....10 years..means $108,000.00.....
Newbie
Buyers...has forked out so much money for condo including including paying interest...if cannot get key....is very unfair...
Newbie
Lorong 24 geylang rental value is out. Edenz Loft shoesbox unit rents out at $1850 in december 2015. You should be expecting a rental of $1800. $2600 is unrealistic. Minus maintainence fee, agent fee and property taxes, you will only get around $1400 per month. If your loan installment is $1700, you will still need to pay $300 per month when your unit is rent out. Not to mention, some of the months your unit will be vacant and need pay $1700 per month.
Newbie
Sorry hor....1 loft is duplex...each unit has lower and upper floor....1 toilet at lower floor, 1 toilet at upper floor....lower floor rent out for 1400...upper floor 1200.....total can get 2600....
Newbie
#1 LOFT TOP APPROVED already~!!!!
A1217-00354-2011-BP01 BCA-TOP-APPLN APPROVED 02/02/2016 15:38:42
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