China Home Prices Cool as Government Steps Up Bid to Avoid Property Bubble
http://finance.yahoo.com/news/China-Home-Prices-Cool-as-bloomberg-1301365081.html?x=0&sec=topStories&pos=4&asset=&ccode=
Good to know that this actually work, in China. For Malaysia, the medicine haven't "take effect" yet even though the government have given few doses of injection, in fact the price is keep escalating still...
Tuesday, June 21, 2011
Thursday, June 16, 2011
Seringin Residences Update
Just received SMS from the developer:
Seringin Residences is now open for sale to our privileged registrants at our Sales Gallery ....Please call 03-79806688 ....
Comment as below:
Seringin Residences is now open for sale to our privileged registrants at our Sales Gallery ....Please call 03-79806688 ....
- Have two towers, A and B
- Each floor 12 units
- Price for tower B start from RM650k onwards, for 1500sf++.
- Tower A mostly sold out especially small units, left big units that are more than 2000sf, arounf 2100sf - 2600sf
- Tower A price cheaper, average psf rm410, Tower B price much higher, but feature wise there is no different between Tower A and B
- No freebies, no discount, no furnishe. Only 50% of S&P legal fees and loan document
This developer is seem like super confident on this project. Selling at steep price without any "attractive package". Building facade super normal, nothing fancy. Layout not practical. Just imagine for 2600sf large unit only have 3 bedrooms. For 1500sf and 2100sf, you need to pass through maid/store room in order to go to common toilet....
Best part is they do not provide any parking spaces to customer, even there are plenty of empty parking spaces around the sales gallery. They reserve it for See Hoy Chan boss and all customer need to park at road side :)
So Ambitious - New RM1.5bil project to give trendy look to Puchong
PUCHONG: Millennium Land Sdn Bhd will embark on a RM1.5bil mixed-development project, M Square, which it is optimistic will become the new commercial centre for Puchong and turn it into a trendy township.
Located on 10.12ha, M Square comprises a 380,000 sq ft shopping mall located in the podium block below the 18-storey 255-room Hilton Garden Inn and a 2.1 million sq ft street mall comprising of 13 six-storey blocks of retail and office units.
The development will start by the third quarter this year and is targeted for completion by 2014.
Located on 10.12ha, M Square comprises a 380,000 sq ft shopping mall located in the podium block below the 18-storey 255-room Hilton Garden Inn and a 2.1 million sq ft street mall comprising of 13 six-storey blocks of retail and office units.
The development will start by the third quarter this year and is targeted for completion by 2014.
Wednesday, June 15, 2011
Seringin Residences @ Happy Garden
After 6 months of waiting, finally the luxury condo by See Hoy Chan is soon open to public....name Seringin Residences, location right next to G Residence Condo, beside a proposed Chinese School.
Official Web Site: http://seringin.com.my/
Previous Posting: http://wickinv.blogspot.com/2010/12/happy-garden-see-hoy-chan.html
Some site visit photo:
Housing agent get six years and six strokes for cheating
Mohamed Rizal Mohmad Daud, who claimed to be a housing agent, was charged in the magistrate’s court with six counts of cheating that took place last year.
In the first charge, he received RM400 as a deposit from R. Thanes-varan, 31, after claiming that he could help him rent a house at around 4pm at Taman Larkin Idaman on Nov 25.
On the second charge, he received RM2,000 from the same man as a deposit to buy a house at the same location at around 4pm on Nov 25.
In the third charge, Mohamed Rizal took RM900 and deceived Noah Jeevan Rabindranath, 41, into believing that he could help the victim rent a house in Larkin Idaman at around 2.30pm on Oct 10.
The fourth offence occurred at around 11.30am at Taman Larkin Idaman where the accused convinced Harun Rashid Idris, 22, to pay him RM300, promising to help the victim rent a house on Nov 9.
In the fifth charge, the accused took RM1,200 from Hazman Hamid and promised to rent a house for him in Larkin Idaman on Nov 27.
In the sixth offence, he received RM2,000 from Yang Mey Yong, 44, where the accused promised to help the victim purchase a house at around 12pm on Dec 3.
He pleaded guilty to all the six charges and magistrate Mazana Sinin sentenced him to one-year imprisonment and one stroke of the cane for each charge.
http://thestar.com.my/news/story.asp?file=/2011/5/20/courts/8719298&sec=courts
22 Years Old U.K. Heiress Buys America's Most Expensive Mansion
The 57,000-square foot Los Angeles mansion built by the late TV producer Aaron Spelling is slated for sale to a 22-year-old heiress to a Formula One racing fortune. The home on five acres of property in Holmby Hills has a bowling alley, beauty salon, several gift-wrapping rooms and parking for 100 cars.
The buyer, Petra Ecclestone, will be splitting her time between London and Los Angeles after her planned August wedding to entrepreneur James Stunt, according to a spokeswoman. Ms. Ecclestone's father is the British billionaire and Formula One racing boss Bernie Ecclestone.
Tuesday, June 14, 2011
Property 101 - Super Long Documents
- Booking Form
- Sales & Purchase Agreement
- Deed of Assignment
- Power of Attorney
- Bank Loan Offer Letter,
- Loan Document
- Tenancy Agreement
We are not legal expert, and the document is so long, 90% of us will not bother reading it and just trust the expert. But what if the expert made mistake in the document and you signed it also? Then, I only can say TOO BAD.
Therefore as I emphasize previously, you need to have trusted people within your circle that you can rely on them when come to this kind of document, Lawyer, Agent, Loan Officer and etc.
http://wickinv.blogspot.com/2010/07/property-101-your-right-hand-man-lawyer.html
However, I still have a habit to check some key terms myself when come to document. For example, Name, IC, Loan Amount, Loan Interest Rate, Penalty, Lock In Period and etc. Personally, I have experience below myself
- Lower penalty rate than what is agreed in Bank Loan Document (which is good news to me)
- Longer lock in period than what is agreed in Bank Loan Document, which extended from 3 years to 5 years
- Tenancy agreement with wrong bank account number
- Exclusive Agent Form which I never agree to from Property Agent
- Booking Form that stated higher commission rate than what I thought it would be
Monday, June 13, 2011
How to Kick Them Out
Found an interesting article, you may need you sooner or later when you start the life as landlord :)
Tenants that rent your house do not pay the rental and refuse to move out from the property? Bought an auction property and found that someone occupy the property illegally ? All this kind of scenario are commonly happened in Malaysia.
In Malaysia, the legal way to evict the tenants or illegal occupiers from your house is to apply for an eviction court order, but it is time-consuming and costly to get an eviction court order. Hence, it is depend on the cost of your property and whether you think it is worth to do that or not.
1. First, DO NOT TERMINATE the water supply or electricity supply for that property. This is the most common method that people used to evict the tenant, but it is illegal in Malaysia.
2. Request your lawyer ( normally is your S&P lawyer or tenancy agreement lawyer ) to send an registered post to that property. The letter content should tell the tenant to move out from within one calender month. For examples, if the letter is going to post out on any days on April, you must give the tenant one calender month to move out which is 31th of May.
3. Get a copy for that letter from your lawyer and get the confirmation from lawyer whether the registered post are delivered successfully or return unclaim ( some tenants like to pretend nobody home ).
4. After one calender month, if you still find that the tenant still didn't move out from the property, then you can plan for a 'break in' activities
To minimize the cost and evict the tenant from your property, there is another informal way, which is still a legal way with less cost. The following is the guide to help you guys to evict the tenants or illegal occupiers out from your property and gain back your control. It is a legal way, with certain of risk but it is not as formal as applying court order.
The following is the preparation for the 'break in' activities.
1. Planned for a 'break in' date and before 'break in', go to make a police report on the nearby police station. Bring the lawyer letter that you sent to the tenant and the confirmation slip that can prove the tenant received the letter or not. If the letter returned unclaim, you can tell the police, you posted a notice to ask the tenant to evict, nobody claimed that letter. Hence, you assume there is no people staying there and you want to break in that house now. If the letter was delivered successfully, then when you make police report, informed the police that you expect the tenant should have moved out. Ask the police whether they can accompany you for the 'break in'. If cannot, get the telephone number for the police station that you made the report.
2. Get a locksmith with you and a independent witness. Independent witness mean someone that does not have close relationship with you. It cannot be relative or friend. If your property is a condominium or gated townhouse, you can request the staff in the maintenance office to accompany you for the 'break in'. They can be your independent witness.
3. Bring a good camera with you. When you enter the property, use the camera to take photo on every corner of that house. This is to prevent the tenant or the illegal occupier claimed or sued you that you took away his asset.
4. Bring a pad lock with you to lock the house after break in.
The following is the matter to take note during 'break in' activities.
1. Go to that property and try to knock the door. If the tenant open the door, then you request him/her to move out politely. Informed him that you had made an police report. If he refuse to move out, call the police. If no one open the door and you feel there is someone inside, then call the police and request them to come before you start to 'break in'. If you confirm no one is inside the house, you can start to break in.
2. After break in, take photo as much as you can. Try not to touch any thing in that house. Put a notice on the front of the property, which can be seen easily. Tell the tenant if he/she want to take back his/her asset in the house, please contact you within 1 or 2 weeks time. Besides, put a photocopy of your police report together with the notice too to indicate that you had made the police report.
3. Change the main door lock and lock it with your new pad lock.
4. After that wait for 1 or 2 weeks time, to see the tenant contacted you or not. If not, then dispose all the thing in that house and you can do anything whatever you want with that property.
The above guidelines is just act as a guide for you to evict your tenant or illegal occupier without court order. Different case might have to act differently. Hence, the best is to consult your lawyer. However, I had managed to gain back control on my property by using the steps above. If you want to follow the guide above, use it at your OWN RISK. Good luck to you.
http://www.start-investing.com/Malaysia-Investment/Property-Investment/How-to-evict-tenant-or-illegal-occupier-from-your-property-in-Malaysia.html
Tenants that rent your house do not pay the rental and refuse to move out from the property? Bought an auction property and found that someone occupy the property illegally ? All this kind of scenario are commonly happened in Malaysia.
In Malaysia, the legal way to evict the tenants or illegal occupiers from your house is to apply for an eviction court order, but it is time-consuming and costly to get an eviction court order. Hence, it is depend on the cost of your property and whether you think it is worth to do that or not.
1. First, DO NOT TERMINATE the water supply or electricity supply for that property. This is the most common method that people used to evict the tenant, but it is illegal in Malaysia.
2. Request your lawyer ( normally is your S&P lawyer or tenancy agreement lawyer ) to send an registered post to that property. The letter content should tell the tenant to move out from within one calender month. For examples, if the letter is going to post out on any days on April, you must give the tenant one calender month to move out which is 31th of May.
3. Get a copy for that letter from your lawyer and get the confirmation from lawyer whether the registered post are delivered successfully or return unclaim ( some tenants like to pretend nobody home ).
4. After one calender month, if you still find that the tenant still didn't move out from the property, then you can plan for a 'break in' activities
To minimize the cost and evict the tenant from your property, there is another informal way, which is still a legal way with less cost. The following is the guide to help you guys to evict the tenants or illegal occupiers out from your property and gain back your control. It is a legal way, with certain of risk but it is not as formal as applying court order.
The following is the preparation for the 'break in' activities.
1. Planned for a 'break in' date and before 'break in', go to make a police report on the nearby police station. Bring the lawyer letter that you sent to the tenant and the confirmation slip that can prove the tenant received the letter or not. If the letter returned unclaim, you can tell the police, you posted a notice to ask the tenant to evict, nobody claimed that letter. Hence, you assume there is no people staying there and you want to break in that house now. If the letter was delivered successfully, then when you make police report, informed the police that you expect the tenant should have moved out. Ask the police whether they can accompany you for the 'break in'. If cannot, get the telephone number for the police station that you made the report.
2. Get a locksmith with you and a independent witness. Independent witness mean someone that does not have close relationship with you. It cannot be relative or friend. If your property is a condominium or gated townhouse, you can request the staff in the maintenance office to accompany you for the 'break in'. They can be your independent witness.
3. Bring a good camera with you. When you enter the property, use the camera to take photo on every corner of that house. This is to prevent the tenant or the illegal occupier claimed or sued you that you took away his asset.
4. Bring a pad lock with you to lock the house after break in.
The following is the matter to take note during 'break in' activities.
1. Go to that property and try to knock the door. If the tenant open the door, then you request him/her to move out politely. Informed him that you had made an police report. If he refuse to move out, call the police. If no one open the door and you feel there is someone inside, then call the police and request them to come before you start to 'break in'. If you confirm no one is inside the house, you can start to break in.
2. After break in, take photo as much as you can. Try not to touch any thing in that house. Put a notice on the front of the property, which can be seen easily. Tell the tenant if he/she want to take back his/her asset in the house, please contact you within 1 or 2 weeks time. Besides, put a photocopy of your police report together with the notice too to indicate that you had made the police report.
3. Change the main door lock and lock it with your new pad lock.
4. After that wait for 1 or 2 weeks time, to see the tenant contacted you or not. If not, then dispose all the thing in that house and you can do anything whatever you want with that property.
The above guidelines is just act as a guide for you to evict your tenant or illegal occupier without court order. Different case might have to act differently. Hence, the best is to consult your lawyer. However, I had managed to gain back control on my property by using the steps above. If you want to follow the guide above, use it at your OWN RISK. Good luck to you.
http://www.start-investing.com/Malaysia-Investment/Property-Investment/How-to-evict-tenant-or-illegal-occupier-from-your-property-in-Malaysia.html
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