doc's dog day

Wednesday, January 17, 2007

New Condo


Last Saturday after servicing my car, I went to the site where I bought my condo. It's located in Dutamas and is supposedly an entry level condo, nothing fancy as I reckon this being my first property I was practically a newbie when it comes to property investing. Actually I am still but all these while loitering in the Real Estate forum, I reckon I picked up some pointers here and there, especially from my girlfriend, Jagsy, she's a real big timer as compared to me, but that is a completely different story.

Anyway I visited the place and in my untrained eyes, I reckon it was passable, not that good, but passable. Workmanship is not as atrocious as one of the other condos around my place, but all in all it could be better.

I went inside the unit, and I was checking out the workmanship as the handing over of the property would be delayed until the beginning of next year. This is the state of legislature in Malaysia whereby developers are always taking purchasers for a ride, anyway nothing much I can do, as what they promised by handing over the unit by end of this year is just that, lip service.

One thing though, the unit looks and appears smaller as compared to the show room which is blatant misrepresentation, again difficult to contest as the developers have demolished the show unit, no doubt to prevent comparison with the actual unit.

One pleasant thing from this is that I reckon being the first ever property I bought, at least it didn't turn out as bad as I had envisioned it to be. Lets just hope that things will work out fine and I wont lose money in this venture.

And now to the second and third property that I bought.....Cheers!

2 Comments:

  • Doc,

    If it is stated in the SPA that they have to deliver to you in 36 months; then they have to pay you interest, if they don't.

    If not, the Housing Tribunal is your recourse.

    Do not be con by them. The biggest cons are in the housing industry!

    Family of Four

    By Blogger Family of Four, at January 18, 2007 6:29 PM  

  • yup. I know...

    so legally from the date of SPA they have 36 months until handover, well over the stipulated time frame. Anyway one thing though, developers per se in malaysia are not properly regulated by legislation, and even if there are legislations, there is sadly no implementation.

    Actually this being the first property I bought, tend to be my "baby" so to speak... keke, since then had become "wiser".

    We have a property Forum as well.

    www.mypropertytalk.com


    fell free to browse more pictures there

    By Blogger mercuri2000, at January 19, 2007 10:52 AM  

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