“Welcome every morning with a smile. Look on the new day as another special gift from your creator, another golden opportunity to complete what you were unable to finish yesterday. Be a self-starter. Let your first hour set the theme of success and positive action that is certain to echo through your entire day. Today will never happen again. Don’t waste it with a false start or no start at all. You were not born to fail.” ~by Og Mandino

Monday, March 15, 2010

Called Off the Townhouse Plan

This is somehow really disappointing.

Approaching a few bankers and lawyer to consult about the home loan procedure and relevant information, and even seeking advice from my dad and friend who works in the bank, everything just by the edge. We should almost decide to proceed for the next - appointing a lawyer to prepare the legal sales and purchase and the loan agreements. However, we suddenly found out that the townhouse unit is having loads of unforeseen future financial issue.

Well, I only knew that when I popped in to the developer office this afternoon. I purposely took half-day off today to settle everything mentioned above. As a normal buyer, you do want to carry out some research and investigation before you want to buy a house, don’t you? Because this is going to involve a lot of money.

We are not just buying a pair of shoes or bag that could simply be returned for changing or replacement so long as it's still within the stated period. We are buying a house now. An absolutely huge investment for us. Thus, we have to be more careful.

One of the sales ladies from the IOI developer office revealed me some background of the Palm Court which is the area where the townhouse located. She said that piece of land was initially planned for developing the high class expensive condominium type property. However, the strategy changed after that and built up only the townhouses and terrace houses in that guarded area eventually.

All those government-related taxes are somehow still remained at those for the condo-type, which is nearly ten times higher than the normal range it should be. Plus, each tenant has to pay a minimum of extra RM5000 (estimated value and could be higher than that) to get the master title divided among other tenants there. I mean, we have to pay some huge amount of money if we want to get the individual title. The application of getting the individual title has been submitted in year 2008 and the result could only be produced in year 2013. Before that, we are not allowed to carry out any renovation outside of our own unit. (Renovation is prohibited at our own house? This is completely ridiculous!)

Some more the price of that unit now has dropped 10% lower than its origin. We would be paying too much if we take its original price. Huh~

Goodness. Everything is out of our plan. We would be in a real trouble if we really buy in that unit.

After some discussion again over the phone with my hubby tonight, we decide to call off the plan. We would better look for the others… instead of taking the trouble.

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