Palm Spring Kota Damansara For Sale

Palm Spring (also called Palm Spring @ Damansara Condominium) is strategically located in Kota Damansara and just less that 1 KM distance from IKea the curve and IKano. Palm Spring was developed by Muafakat Kekal. It has a total of 6 blocks of condominium with 6 swimming pools each block and 1 big swimming pool and 1 wadding pool. All blocks share the same U-shape design for the purpose of ventilation. There are parking bays provided and parking bays for visitors. Inside the condo itself has amenities available included 24 hours mamak restaurant, sundry shop (which has frozen foods and vegetable at the reasonable price), laundry shop, kiosk, Chinese fast food or cafeteria shop, Nursery school and saloon. Facilities could consider one of the most complete as compared to other condos at Kota Damansara, Mutiara Damansara, Bandar Utama or Damansara Perdana condo.

Its facilities included high ceiling indoor 3 badminton courts inside the size of a basketball hall, 3 tennis courts, 3 chidren playgrounds, gym and etc. Recently the Management has efficiently upgraded with CCTVs camera at the security for scanning of resident entrance. New security monitoring system for pedestrians entrance at small entrance exit to the bus stop. There are buses going down to LRT Bangsar and Kelana Jaya and down to KL city center. Easy access within working distance to neighbouring 7-Eleven, Kiosk, Mamak and etc which provides more convenience for residents there. Within short driving distance of less than 1 KM, residents can reach major shopping malls, such as The currve, Cineleisure and IKANOPower Centre as well as a hypermarket, Tesco Damansara and the well-knowned Swedish furniture store,IKEA.Shopping at this malls are connected to each other and one can walk through all of them and contain chic and fancy restaurants, branded apparel stores and also leisure centers, such as karaoke center, cinema and bowling center. It is just within minutes drive away from 1-Utama Shopping Center.

In terms of accessibility, Palm Spring is accessible via Jalan Damansara, Lebuhraya Damansara Puchong (LDP), Penchala Link and NKVE. Residents can utilize any of these options to reach the city center.

· Name: Palm Spring (Palm Spring @ Damansara Condominium)

· Address: JalanPJU3/29, Section 13, Kota Damansara, 47810 Petaling Jaya.

· Developer: Muafakat Kekal

· Completion Date: 2005

· Type: Condominium

· Tenure: Leasehold

· Built-up: 915 – 1,259 sq ft

· No. of Blocks: 6


· Indoor badminton court

· Gymnasium

· Tennis court

· Nursery

· Children’s playground

· Kindergarten

· Multi-level car park

· 24-hour security with smart card access system

· Clubhouse

· 7 swimming pools

Considering Selling Your Home Without a Real Estate Agent? Understand Your Legal Needs!

As real estate has changed over the past few years many people are trying to sell their homes without a real estate agent in order to avoid paying a commission. In the United States you typically pay an agent 6 percent of the sale price in commission. With the price of homes today this number is significant. Especially since so many homes in the US have lost value and many homeowners have found they own a home that is not worth what they originally paid for it.

When not using an agent many residents will seek out the help of FSBO (for sale by owner) organizations and websites. These marketing tools still require a fee but the most it would be is 3 percent of the sale price and many are considerably less.

Real estate agents would also point out that by paying them a fee you are also gaining access to a number of resources that they have available to them. When selling a property agents will also invest in advertising to aid in selling the home.

Many people believe the commission paid to an agent is well worth it. However if you do decide to try and sell your home alone it is important to contact a real estate attorney who can help you navigate the legal aspects selling property.

The legal needs of a home sale include:

Purchase and Sale Agreement: This document is one of the many legal aspects involved when buying and selling property that will require an attorney.

Title Search and Clearing: Before finalizing a real estate agreement you want to be sure the title is clear. A lawyer will do the required title search and make sure the title is clear and the property is ready to be sold.

Litigation: There are instances where property ownership issues arise at the time of a sale. This could be a boundary dispute or eminent domain issue. You will want a qualified attorney working with you if you run into one of these problems.

Condo Development: Condominiums require legal documentation that is unlike any other property. Real estate attorneys are well versed in the legal requirements of condominiums and can help ensure the process moves smoothly.

Document Preparation and Review: If you are buying or selling a home you want to make sure all the documentation is complete and done correctly. It is the job of your real estate attorney to review all deeds, notes and any other documentation that is involved in a home sale.

The investment in a real estate attorney is an important addition to any home selling strategy. Buying or selling something as valuable as a home is a daunting prospect. If you plan to try and do it alone make sure you hire a real estate attorney to help supplement your sale strategy. The legal fees are a small price to pay to avoid a commission.

Timing of the Revenue Ruling 70-604 Election

It’s getting to be that time of year again when associations are thinking about year-end procedures, one of which is making the annual election under Revenue Ruling 70-604.

I have been asked a number of times what those numbers mean. “70” signifies the year in which the ruling was issued (1970), and “604” simply represents the numerical sequence of the ruling for that year. This was ruling number 604 issued in 1970.

As a CPA, I receive more questions about the application of Revenue Ruling 70-604 than on all other tax issues combined. Several of my articles on the subject of Revenue Ruling 70-604 are posted in various places on the web, so I routinely get “found” and questions are routed in my direction. One question I receive over and over is “when do we make the election?”

While Revenue Ruling 70-604 is one of our most powerful tax planning tools for associations filing Form 1120, it also is the one most subject to interpretation. One reason for this is that the Ruling itself is so brief – only two paragraphs in length. The absence of internal definitions within the Ruling means that readers have to interpret it and make their own definitions for almost all critical issues within the scope of the Ruling, including the timing of the election.

Because so many areas of this Ruling are subject to interpretation, many years ago I contacted Mr. Ransom (who drafted Revenue Ruling 70-604) at the Internal Revenue Service (IRS) National Office, to discuss this and other matters. When I pointed out the ambiguity in the Ruling with respect to the timing of the election, Mr. Ransom stated that he felt that there was no ambiguity, as the matter was purposely worded so that the Ruling would be flexible. I specifically asked Mr. Ransom if an association could make their election after their fiscal year had ended, and he affirmed that they could. He agreed that the only limitation on the timing of the election is that the election must be made before the tax return is filed, and must be made on a timely filed return.

I also asked Mr. Ransom if it was possible for an association to make an election before the fiscal year had ended. He agreed that it would be possible to make the election in this manner, since the Ruling was purposely drafted to be flexible by stating that “any” excess could be carried over from one year to the subsequent year. That means that one does not have to state a specific amount that would be carried over from one year to the next, nor does one even have to know if there will be any excess.

There is no downside risk to making an election under Revenue Ruling 70-604. If an association does not have an excess of membership income over membership expenses, the election will simply not apply to that year. It would be the same as if no election had been made. If an association files Form 1120-H instead of Form 1120, then no election is needed, so again, the election will simply not apply to that year.

Condo Living – The Seven Deadly Sins

1) Don’t compare before buying. Fall in love with the place, and don’t check on your future neighbors. Don’t familiarize yourself with the neighborhood and just feel as if you and your family have been parachuted in this unit.

2) Don’t bother to read the minutes of the annual meeting of the homeowner’s association that the owner will supply to your real estate agent to give you a background of the activities of the condo. Don’t make a distinction between normal and capital expenditures and don’t find out about the importance of a reserve fund.

3) Don’t attend the annual meeting of the condo owners, and don’t find out what’s in store for the next year, or what happened last year. Don’t think of investing a few minutes of your time to study the financial statements of the last 5 years including the notes attached herewith that could shine a bright light on the financial status of the association.

4) Don’t be present at special assessment meetings that are often called to explain in somewhat great details the sums to be levied to pay for unforeseen or badly planned capital expenditures, and don’t ask questions about the extra fees that may be required that can last for many years

5) Don’t get involved on any committee, or on the board of administrators and don’t enquire or try to sense the degree, not of the social skills of the administrators, but of their building-management or business acumen and competence

6) Don’t take care of your unit, and plan to leave before major renovations are required, leaving the mess to others. Don’t care if the other unit owners have a similar attitude and believe this “laissez-faire” philosophy.

7) Don’t read the rules and regulations of the homeowner’s association guide and let others worry about the state of the building and its management.

Get The Word Out You Are Searching For A Great Condo

They go Fast

You don’t want to drag your feet though when it comes to new condos in for sale. The demand is there and many of them are sold in very little time. You need to get the message out that you are looking. This will help you to get information on the new listings as soon as they come out. When you are among the first to see them, you can pick what you want.

You don’t want to rush though and pick just anything because you worry if you don’t you will end up with something worse. The key to making it work is to take action so you know what is offered out there and how to get it.

Find an Agency

You don’t have to do it all on your own though. You can learn about the new condos in as soon as they are available. An excellent agency can help you to find what you want in the right location and price range. If there are specific perks you want such as a number of bedrooms or bathrooms, let them know. They will use these filters to help narrow down options.

They are only going to notify you when there are new condos in that fit your requests. This will save you time sifting through all of them on the market. When you first reach out to an agency, make sure you ask questions and spend time talking with an agent. You need to find someone you can really rely on to help you get information quickly.

Sign up Online

You can also learn about new condos in by signing up online at various sites. You can use their filters to look at the options currently available that fit your needs. Keep in mind the more you filter, the fewer results you are going to get. However, you do want to make sure you all the perks you want with your purchase choice.

Once you create the account, you can view what is currently out there. This is a fast way to find out about locations, pricing, and much more. You can even ask questions to schedule an appointment to see various new condos in that have captured your interest. As new options are available, you can set up email alerts so you learn about them as soon as they are offered.

Buy before it is Built

Don’t overlook the option to buy one before it is even built. Many of the condos out there are being promoted this way. You get to see the layout and you can even pick colors for your carpet or other features. You will be able to move in as soon as the building is done. You will be the first person to live in it and that is really exciting.

The down side to this option though is you can’t move in right away. Depending on what phase the building is in, the wait could be several months or even a year. Yet that may fit your time frame very well. It is certainly an option worth exploring as it could save you money and get you the condo you have always dreamed of!