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My SPA date was 3 Sep 2012. Encare said estimated date of key collection should be within this month. Would be keen to know how to claim for 10% penalty.
TOP occurs when the entire development (Towers 1 & 2) is physically fit for occupancy. Hence, those owners of units with ID package will collect key and allow the ID contractor to carry out the work in the unit. It is just like owner without ID package will collect key and engage their own...
I understand owner has to collect the key upon TOP and ID will carry out their work by arranging with ID. The only bottle-neck is how fast will they complete the work and who will start first?
I understand that TOP means the building is ready for occupancy including split air conditioned units, oven, etc. but less the fit-out such ID work like bed, mirror panelling, etc for those who have bought in the later stage like those in Tower 2. Those will come in after TOP.
It should be possible as we have to sign on the official form when we collect our keys from the developer's staff. It denies me of leasing out my unit in the case of my condo in Singapore which is an opportunity cost. I do not mind for this unit as I do not have intention to lease it. I will be...
Not sure about Malaysia, in Singapore, inform the developer/lawyer at the collection of key. Developer's will work the LD amount and nett off the retention money of 5% (money held back by lawyer and release only after the 1-year defect of liability period) due to the developer.