If you bought a property from new projects, usually it takes up to 3 years to finish building from scratch. You started paying the loan interest and house mortgage for 3 years until you finally can get into the house. Now that is a memorable moment isn't it?
There are a list of things that you have to know before you can officially move in and stay in the house.
Here is the quick guide on the process of receiving the keys to your new house from the developer.
Here is the quick guide on the process of receiving the keys to your new house from the developer.
1. Delivery of Vacant Possession a.k.a collecting your house keys.
Giving 'vacant possession' refers to a legal obligation to ensure that a property is in a good condition for the owner to move in.
Delivery of Vacant Possession is when the property is ready to be handed to you. This will usually happen between 24 months to 36 months from when you made the initial down payment for the property, and signed the Sales and Purchase Agreement.
By this time, construction work has ended and the building is complete and ready to be lived in. The only works remaining are usually some landscaping to the rest of the estate.
As the property move into completion, you will receive a letter from the developer to arrange a date for Delivery of Vacant Possession. When the property is finally completed, you will need to turn up at their sales office to sign forms and collect the house key of the designated property.
On the same day you collect the property, you will also receive a copy of the Certificate of Completion and Compliance (CCC).
2. Certificate of Completion and Compliance
Formerly known as the Certificate of Fitness (CFO), the CCC is a document released by the local authority council that declares a particular property is completed and safe to be occupied.The CCC will be issued by the Professional Architect or Professional Engineer who is registered with the respective Board of Architects Malaysia (BAM) or Board of Engineers Malaysia (BEM).
Legally speaking, the CCC is a requirement stated in the Sales and Purchase Agreement that proves the design of the building is approved and safe. Make sure that the property has obtained CCC when you collect your house keys.
3. Sign a form when you receive the key
When you collect your house keys, you will need to sign several documents to acknowledge your acceptance of keys to your new property. As you sign the documents along with the date, the Defect Liability Period for your property starts counting down.
Part of this set of documents will include a simple list of the lighting fixtures, appliances, electrical sockets and other built-ins.
4. Defect Liability Period
The Defect Liability Period is just like a “warranty” period for your property. Homeowners will usually have 18 to 24 months to check and report any defects, poor workmanship or leaking of the building. Have a clean check when you first get into the house. Report and have it fixed immediately before you start furnishing your house as that will further complicate the process.
The developer will usually provide a Defect Complaint Form that lists the common areas in the house. Use it to mark out any problems you find, such as loose electrical sockets, misaligned flooring, etc. Even if you think it’s a tiny little problem, mark it out for the developer to take a look. If you ignore it, you will have to bear the cost to fix it later on.
5. Get the contact for the management office
This is important in case you got lost in your new condo park or you couldn't find certain facilities in the premise. A basic management team should be arranged by the developer for the first few months before the community decide to vote and forms their own management to take care of the shared areas. Contact number can be useful when you have doubts such as how much and where you have to pay for the maintenance fees and check the rules®ulations of the condo.
This is important in case you got lost in your new condo park or you couldn't find certain facilities in the premise. A basic management team should be arranged by the developer for the first few months before the community decide to vote and forms their own management to take care of the shared areas. Contact number can be useful when you have doubts such as how much and where you have to pay for the maintenance fees and check the rules®ulations of the condo.
After all these, you are free to install your internet lines, furnitures, electrical appliances and all kind of stuff into your house. Enjoy your stay and hope there will be no big maintenance for the house in at least the next 10 years.
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