4 of us JV on a Unit in JB , this is our 2nd JV project
Year:Nov 2011
Project:Austin Perdana,Johor.
Developer:Mah Sing
Property Type: Austin Suites Service Residence
Purchased Price=$250480.00
Lot Number:10
Floor:07
Area:658 Sqft
Initial cash layout:$2500 (1%) only and nothing else.
With 7% per annum* Guaranteed Rental Returns for 2 years
100% Guaranteed Rental
DIBS Scheme:Yes
RM0 SPA Legal Fees* & RM0 1st year Service Charge
Our Entry price=$380/sqft
I only follow up early this year and none of my team even Proxy know what is happening.
I have to check with developer etc...Guess what?
Our booking fees FORFEITed! due to no one response to developer for Signing SNP!
The Proxy loan not approved also no alert, letter from Developer also do not bother to open and read etc.
I am just sharing from my past BAD experience and hope everyone can learnt from it.
You can calculate what is the opportunity loss for this case., currently the average price is $680/sqft
I do push another 2 friends to buy into it and there are happily sitting on top of it and laughing at ME now.
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