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East Ledang/ Ledang Heights/ Ujana/ Impiana community.
- Thread starter Investor
- Start date
- Joined
- Aug 12, 2011
- Messages
- 701
- Points
- 18
- Joined
- Aug 12, 2011
- Messages
- 701
- Points
- 18
Re: East Ledang PH 2A
Hi Shining:
Have not bought EL subsale, but will try to answer .....
1) It is very common to get a bank to value lower that asking price, particularly these days in Nusajaya, while price is moving very fast. Banks typically use an independent valuation company and they will typically use 3-4 month old transactions. Or they use developers current launch, if any, to gauge. You may try different banks, typically local banks tend to be more aggressive than the foreign banks. Hint - if bank valuation is 60% below, most likely, the asking price is too high.
2) The real test of a good lawyer is when something goes wrong. Fortunately, I have not had any such instance. Given the high prices, most of them will give you ok service. You just have to be on top of them otherwise they will slack, given the volume of business these days. I think it is ok to go with the Bankers panel lawyer (recommended by the Bank contact), as Banks do blacklist the ones that have given bad service. The Banker will take more interest, you know why. Just ask for 2-3 names and talk to them. You can ask the same lawyer to do the S&P and negotiate a better discount. Oh yes, in Malaysia, they will give you at least 35% off of the basic legal fee. Just make sure that the seller is not using the same lawyer, since you dont know which way the lawyer will go in case of a conflict.
3) The process may take about 5 months, including OTP, S&P Agreement, Bank Clearance if the seller has financed, State Concent if you are a foreigner, Final Closing. For more details, talk to the lawyer your banker recommends. Make sure you eat their brains out and make them do some work. They charge a LOT of money.
4) Last suggestion, if you do move forward, make sure you ask the lawyer to file a caveat after the SNP. You will pay RM 200-300 extra, but then the buyer cannot back off.
Hope this helps ........
Hi Shining:
Have not bought EL subsale, but will try to answer .....
1) It is very common to get a bank to value lower that asking price, particularly these days in Nusajaya, while price is moving very fast. Banks typically use an independent valuation company and they will typically use 3-4 month old transactions. Or they use developers current launch, if any, to gauge. You may try different banks, typically local banks tend to be more aggressive than the foreign banks. Hint - if bank valuation is 60% below, most likely, the asking price is too high.
2) The real test of a good lawyer is when something goes wrong. Fortunately, I have not had any such instance. Given the high prices, most of them will give you ok service. You just have to be on top of them otherwise they will slack, given the volume of business these days. I think it is ok to go with the Bankers panel lawyer (recommended by the Bank contact), as Banks do blacklist the ones that have given bad service. The Banker will take more interest, you know why. Just ask for 2-3 names and talk to them. You can ask the same lawyer to do the S&P and negotiate a better discount. Oh yes, in Malaysia, they will give you at least 35% off of the basic legal fee. Just make sure that the seller is not using the same lawyer, since you dont know which way the lawyer will go in case of a conflict.
3) The process may take about 5 months, including OTP, S&P Agreement, Bank Clearance if the seller has financed, State Concent if you are a foreigner, Final Closing. For more details, talk to the lawyer your banker recommends. Make sure you eat their brains out and make them do some work. They charge a LOT of money.
4) Last suggestion, if you do move forward, make sure you ask the lawyer to file a caveat after the SNP. You will pay RM 200-300 extra, but then the buyer cannot back off.
Hope this helps ........
Last edited:
Re: East Ledang PH 2A
thanks a bunch!! being a first time buyer in overseas property, these are valuable information.
my agent told me that the property cannot be transferred until TOP next first Q.
Do we lodge the caveat immediately after the 10% downpayment is paid?
thanks a bunch!! being a first time buyer in overseas property, these are valuable information.
my agent told me that the property cannot be transferred until TOP next first Q.
Do we lodge the caveat immediately after the 10% downpayment is paid?
- Joined
- Aug 12, 2011
- Messages
- 701
- Points
- 18
Re: East Ledang PH 2A
For completed properties, yes, you may file the caveat after the S&P is signed and 10% is paid. However, things may be complicated for properties before Vacant Possession. I am not sure, but the master title is with the developer. So, again, I am not sure whether you can file the caveat or not. Best if you check with the lawyer.
For completed properties, yes, you may file the caveat after the S&P is signed and 10% is paid. However, things may be complicated for properties before Vacant Possession. I am not sure, but the master title is with the developer. So, again, I am not sure whether you can file the caveat or not. Best if you check with the lawyer.
- Joined
- Jun 8, 2012
- Messages
- 573
- Points
- 0
Re: East Ledang PH 2A
So about $800 to $900 psf. This still look attractive compared with the $1200 price tag for the latest project there.
So about $800 to $900 psf. This still look attractive compared with the $1200 price tag for the latest project there.
Re: East Ledang PH 2A
Price is for normal condo type...pool and gym. Have sky deck. Not a luxury condo. Heard from UEM sales that the finishing would be lower specs compared to usual Sunrise standards due to low pricing.
Price is for normal condo type...pool and gym. Have sky deck. Not a luxury condo. Heard from UEM sales that the finishing would be lower specs compared to usual Sunrise standards due to low pricing.
Re: East Ledang PH 2A
Ultimately it's the location that matters. As well as the yields.
Ultimately it's the location that matters. As well as the yields.
Hi my friend,
Anyone one here consider fixing invisible grille? I have seen someone using this invisible grille in Singapore flat. Thanks
Anyone one here consider fixing invisible grille? I have seen someone using this invisible grille in Singapore flat. Thanks
Not sure. The agent hasnt told me, i misunderstood earlier ..i thought it was going to be converted to international lot but i learnt from the agent it will be sold as bumi lot, so i cant sell to foreigners in future. Do you guys buy Ujana mainly for own stay or investment (collect rent)?. if it can only be sold to locals and under the assumption the locals are not likely to buy, the only avenue of investment is to rent out
Agent is sure boh ? It is not possible to sell a bumi putra house to a foreigner without first converting to non-bumi right ? How can the state consent go through when they see it is a bumi lot in the first place ?
hi jasonjst, i am a malaysian. So i can buy the bumi lot. there are a few 1147sqf 2 bedders bumi lot floating in the market for 600K .. tempting as it is at least 100K cheaper than international lot ..but like i say, can only subsell to a malaysian in future. if rent there is not sustainable, i may have problem disposing the unit if i buy it
The main difference between a bumi lot and a non bumi lot is about 10% and it is about race quota issues. A bumi lot cannot be sold to a non bumi even though both the seller and buyer are Malaysians. You have to apply for it to get the State Consent which can be anything from 6 months onwards as the State Government Council meet only once every few months to approve these applications. The developer (if the title is not issued yet or if it is a strata title) has to agree to sell it and they have to have reasons to justify why they are agreeing to sell the bumi lot to non bumi. Then you have to get hold of the Inland Revenue approval to pay the difference between the bumi and non bumi lot. Even though I am a Malaysian Chinese, I avoid buying Bumi lots.
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Called up their customer service and they confirmed to me that letter of VP will be ready on 17Dec and to collect from Nusajaya Centre.
Thanks!
