I just went in to take a look today.
The TOP should be 1-2 months from now.
They are doing the minor defects.
I spoken to my lawyer, the LD will cost the developer around 1.5m per month.
I will be receiving around 7500/month for the LD for my unit, at least it covers my lost of rental.
I'm actually really pleased with the delay as it lowers my cost price. They can take as long as they want if they pay 10% LD ! In fact they should see whether they can restructure the remainder into serviced apartments if the rest can't get sold in this market.
I am curious. Have u reced letter from developer' lawyer that they r going to compensate u $7.5k per month? Or in sn p, did the developer explicitly stated that they will pay LD fr dec2013? U reced the money already?
If u look carefully, they always stated "EXPECTED TOP" n " EXPECTED legal date of completion". What choices can buyers pursue?
Just Do It! 要拼才会赢!
My lawyer advised me that LD applies from the date mentioned in article 12a in the S&P agreement. In my case that is December 31st 2013. It is calculated as 10% per annum of the installments paid. In my case thats 10% per annum of 55% of the total value I paid to date divided by 365 days.
I only bought last year so my LD is significantly more that 7,500 per month.
For me, I cant wait to get the keys as I am staying in a hotel at the moment, my previous lease ran out last week.
Robert
Last edited by Robert-v; 01-03-14 at 18:58.
More key is whether the developer agreed to pay or it will be subjected to legal proceeding before payment? Else your holding cost is very high
Just Do It! 要拼才会赢!
My lawyer just called me. TOP liao n can collect key already.
He also advised me on the LD amount which developer will issue a cheque to me.
Hi bros,
Please PM me if you wanna meet for coffee nearby.
Better use the PM function as per advise or else I will have no peace.
Lol
Robert, is yours a 2 bedder or 1 bedder?
Stack 2, it will be a 2 bedder once I get the wall built between the living room and the bedroom. The designer putting a sliding wall there should be sent back to school.
I bought last July and paid market rate. (Hindsight makes me feel I paid too much). My first property so call it education..
This ang moh enjoys a good kopi so will PM you.
Robert
Is concourse skyline worth to consider with newer projects like DUO and South Beach coming up?