Living in JB 2 (Johore)

[Funds Transfer]

Bro, so far have u heard of intended purchasers managed to bargain n add e additional clause?

I feel that legal advice should be critical at this stage given the first time experience. There should be a need for the Management to acknowledge the incident and seek rectification in the event of a repeat incident. We are not at the S&P stage but most of the time, buyers at the signing of option point are not aware of their legal rights. I think we don't sign any form of agreement when we purchased something in HH 2 years ago. If my memory serves me right. Just hand in the cash.

 

[DREAMorACTION]

This Blog says 1 July 12

http://pickofpenang.blogspot.com/2012/06/property-purchase-thresholds-foreign.html?m=1

Thanks for sharing, Bro Avelc

What is the immediate impact for the property market there? When did it happen? Just this week?

 

[avelc]

Bro, r u price tags justifiable 4 e properties based on ur observation?

Bro, don't know, as I was holiday and only met a property agent who told me about that latest ruling which started in July.

P.S. Getting around is easy as the population is majority Chinese.

 

[DREAMorACTION]

I dunno how exactly HH works as I din manage to get the greens earlier.
But I came across some developers actually asked me 2 sign a form called intent to purchase or something. It means I am actually making the request to e developer 2 sell e unit 2 me once they r ready 4 launch, mainly when they have received advertising license. there is strictly no bargaining ...

I feel that legal advice should be critical at this stage given the first time experience. There should be a need for the Management to acknowledge the incident and seek rectification in the event of a repeat incident. We are not at the S&P stage but most of the time, buyers at the signing of option point are not aware of their legal rights. I think we don't sign any form of agreement when we purchased something in HH 2 years ago. If my memory serves me right. Just hand in the cash.

 

[DREAMorACTION]

Oh no worries.
Hope u had good trip n r fully recharged now

Bro, don't know, as I was holiday and only met a property agent who told me about that latest ruling which started in July.

P.S. Getting around is easy as the population is majority Chinese.

 

[avelc]

Thanks for sharing, Bro Avelc

What is the immediate impact for the property market there? When did it happen? Just this week?

Yup it just happened end June/1st July.

I think the market will take time to react to it. High end launches were already above that threshold, but that could affect mass-market launches.

 

[DREAMorACTION]

To add on, while One signs e form of intent, booking fee is also payable. So I guess this is similar to the option u guys r referring to.

I dunno how exactly HH works as I din manage to get the greens earlier.
But I came across some developers actually asked me 2 sign a form called intent to purchase or something. It means I am actually making the request to e developer 2 sell e unit 2 me once they r ready 4 launch, mainly when they have received advertising license. there is strictly no bargaining ...

 

[avelc]

Oh no worries.
Hope u had good trip n r fully recharged now

Thanks, had a relaxed trip. Those who have kids will like Hard Rock Hotel at Batu Ferringhi, as there are water slides. I didn't like the food around Ferringhi though, Georgetown street food rocks and I enjoyed the stay in Georgetown more...

 

[ichin]

This Blog says 1 July 12

http://pickofpenang.blogspot.com/2012/06/property-purchase-thresholds-foreign.html?m=1

Hi Doa,
I came across this link about Laguna, not sure anyone has tag it here before.
http://mylagunajb.wordpress.com/

 

[DREAMorACTION]

Seems like u r seasoned good luck n congrats

Thank u. Will let u know when all goes well with all legal stuff.

 

[butadesu]

Yup it just happened end June/1st July.

I think the market will take time to react to it. High end launches were already above that threshold, but that could affect mass-market launches.

I also heard about penang min purchase price for foreigners has raised to 1m and 2m.
So does anyone knows the prices direction of properties below 1m and 2m since they are now out of reach of foreigners??

 

[DREAMorACTION]

Oh, think ferinngi is about beach. Georgetown is about heritage food n shopping ... I like gurney plaza

Thanks, had a relaxed trip. Those who have kids will like Hard Rock Hotel at Batu Ferringhi, as there are water slides. I didn't like the food around Ferringhi though, Georgetown street food rocks and I enjoyed the stay in Georgetown more...

 

[DREAMorACTION]

Yup. Know bout it. Thx 4 posting it.

Hi Doa,
I came across this link about Laguna, not sure anyone has tag it here before.
http://mylagunajb.wordpress.com/

 

[wuqi256]

Bro, so far have u heard of intended purchasers managed to bargain n add e additional clause?

Back for a breather from work, cigarettes are not my thig so this is my sammyboy break.

Yes, i sometimes get pretty lucky when i try to help others sometimes.

I managed to neg prices for friends for commercial unit (groggy as i rushed down from Genting, midway through a vacation) as we did bulk purchase and then got extension of time for bank loans. This one, need to credit to certain divine help though(giving credit where its due )

Also got early bird discounts for some of them for another project, saved about 10k additional on top of the discounts and for a good friend, managed to stall for him. Also helped 2 relatives get their full deposits back when they didn't proceed with a buy. Helped a neighbour (who wanted to buy one more for his son) to get a unit that was converted from Bumi.

Helped some friends get additional houses in HH during early days and managed to help them waive off the stamp duty while some i managed to help them get original prices (before the rise)

 

[wuqi256]

I also heard about penang min purchase price for foreigners has raised to 1m and 2m.
So does anyone knows the prices direction of properties below 1m and 2m since they are now out of reach of foreigners??

According to a very learned friend. The only way it will go there is up, at least for quite a while. (no vested interest in Penang)

 

[wuqi256]

hi contra,
wish ur words would have come true. HH doesnt have the alternative unit for the size that we have. We opted to go for cluster house(our initial unit was terrace) and we are ready to fork out some additional money and wanted some discount from HH as well. But HH turned down our request... they say price cant be negotiated for alternative unit...

I strongly feel you should get some kind of coverage, at least free legal or something out of goodwill.
Else maybe get back money with interest and look elsewhere. Maybe East Ledang or Nusa Idaman.

Again, i feel bad for you but i guess it is what it is.

 

[wuqi256]

To add on, while One signs e form of intent, booking fee is also payable. So I guess this is similar to the option u guys r referring to.

Yes, what you are referring to, thats the option to purchase if i am not wrong.

 

[DREAMorACTION]

Oh bro, discounts r common esp for group investors or regulars la. But for average joe 2 bargain n talk about negotiating on contract or option clauses, a bit impossible I think

Back for a breather from work, cigarettes are not my thig so this is my sammyboy break.

Yes, i sometimes get pretty lucky when i try to help others sometimes.

I managed to neg prices for friends for commercial unit (groggy as i rushed down from Genting, midway through a vacation) as we did bulk purchase and then got extension of time for bank loans. This one, need to credit to certain divine help though(giving credit where its due )

Also got early bird discounts for some of them for another project, saved about 10k additional on top of the discounts and for a good friend, managed to stall for him. Also helped 2 relatives get their full deposits back when they didn't proceed with a buy. Helped a neighbour (who wanted to buy one more for his son) to get a unit that was converted from Bumi.

Helped some friends get additional houses in HH during early days and managed to help them waive off the stamp duty while some i managed to help them get original prices (before the rise)

 

[wuqi256]

ya , better break it today. dun wait till friday to open 3. thats first day of ghost month .

This year HGF is especially bad i think, those born in the year of the dragon, tiger should stay at home and refrain from going out too much. I think especially for me, will be quite bad judging from the quality of this week but need to think positive.

 

[DREAMorACTION]

bro wuqi, come back n open up LIJB3 tomorrow can? Ah tiong says Friday is superstitious ... I agree la