Second Inspection

The defects rectification period took approximately 30 working days. Made an appointment today for the 2nd joint inspection of the condo unit. Everything was in working order! The entire inspection took less than 15 minutes. So now, we can submit our renovation plans and get things done soon! Gotta go bug my ID to hurry up with the drawings and such.

Vacant Possession

Hubby and I went to the Management Office at Begonia today for the vacant possession of our condo unit. We were instructed to park at B1 level as the carparks are still not ready.

One of the staff brought us to our unit and we completed the hand-over joint inspection checklist. The developer included a step ladder, a double bowl sink, a single bowl sink and two Orion mixers with compliments. 

After the quick inspection, we went to the Management Office again to receive the keys - all encased in a zippered leather folder together with the house rules and regulations. An admin staff briefed me on the renovation procedures and certain standard designs which had to be adhered to. For instance, the lights for the balcony and foyer must be of a certain design. I was even given the contact info of the person who supplies the light. Well, I wonder why the developer didn't install all those lights in the first place so as to make things easier..... anyway, even the shoe cabinets need to follow a standard design and the colour must be white. 

Deposit for commencement of renovation works is RM5000 and fully refundable within 21 working days.

I was also given the M&E plan, plumbing plan and air-cond plan for the condo. I also took the renovation forms.  Everything took approx 1 hour. 

After that, my kitchen designer and wardrobe designer came over to do site measurements. Now, I am looking forward to more drawings!

Pre- Vacant Possession

Finally after a delay of almost 1 month, we received the letter from the developer for vacant possession of the condo unit. We have to prepare a cheque for the developer as payment for quit rent, assessment, electricity deposit, water connection fee etc. All this miscellaneous items amounted to about RM1500. Then we also have to prepare another cheque for the condo management for the monthly service charge and sinking funds from Sept-Dec 2010. That's over RM1000 for our unit.

Upon handing over both the cheques at the developer's office nearby at The Sphere, Bangsar South, I was given a date for the vacant possession of the property. So, it will be another 2 weeks before I get the keys. In the mean time, I am busy clearing out junk and clutter in my present condo.

Buying a Condo unit from the Developer

The Park Residences 1 is a luxury resort-style condominium located in the new township of Bangsar South City, Bukit Kerinchi, Kuala Lumpur, Malaysia. This township is very strategically located near to amenities eg LRT, Federal Highway & Shopping malls. UOA has purchased 60 acres of land here in 2005. For more details on this development, just visit the developer's website : UOA.

Here are some pics of the view taken on the grounds of The Park Residences 1. This first phase consists of 2 condo blocks : namely Acacia & Begonia. The next phase, Camelia, is scheduled to be launched very soon in August 2010.

 

My hubby and I purchased a condominium unit here on July 6th 2010 directly from the developer at RM450psf after 5% discount. Sales & Purchase Agreement fees were absorbed by the developer and buyers were only required to start bank loan repayment in 12 months time. The interest incurred is again, absorbed by the developer. 

To reserve a unit, 2% reservation fee is required. I paid by credit card at the sales office located just beside the condo at The Village. Cheques and cash are also accepted. The balance 8% of the 10% down payment was then fully paid up within 14 days. This time, only cash or cheque payments are accepted. 

My hubby and I decided upon CIMB (one of the panel banks) for our home loan to finance the 90% of the property cost, and selected a panel law firm: Abd. Aziz Chen & Co. to prepare the Sales & Purchase Agreement which had to be signed within 14 days as well. On the day of signing of the Sales and Purchase Agreement, a disbursement fee of RM350 was incurred and was paid to the law firm.

CIMB was quick to give us the offer letter and then we appointed the same lawyer to prepare the bank loan agreement. This was done quite fast and within 2 weeks, we were present at the lawyer's office at Amcorp Mall to sign the necessary documents. At this stage, we had to pay the law firm about RM9200.

In the meantime, we also applied to EPF to withdraw our savings in Account II to finance the payment of the property. Our application was approved within 1 week! They were very fast and efficient.  

So now, we are patiently awaiting vacant possession of the above-mentioned property! We are very keen to design and furnish it accordingly to our budget for our own stay.