okay.. i got news from my banker say my going to buy house (2nd hand apartment) developer is already bankrupt but the master title is already release long ago before it bankrupt.


my friend tell me something make me very worried.. just wanna know if it is true or not.

HER :Start from begining Now u wanna buy apartment a Ok
U apply for loan
Let say, same as ur case, developer already bamkrupt
But ambank still approved ur loan
* developer bankrupt, but got master title, no strata title
Nvm
Bank also approved ur loan
At that time
U can sign s&p n loan agreement liao
Once u sign
Ur lawyer will submit registration of transfer, rm100
Until here u understand????


I say:
ooo
so u mean the transfer fees for the name from master title to my name la


HERsays:
Apa master title
From mr abc to ur name
Understand until here or not before i proceed???


I say:
why took so long leh
u mean vendor punya problem ka of buyer punya problem?


HER says:
Ok
Now this case start liao, kan???
The main point
Bank must have the strata title to release loan



I say:
why must have strata title to release
master tutle cannot?


HER says:
Thats the rules n regulation

I say:
wait
if like that a
all master title that not yet apply strata title ma cannot get liau


HER says:
Nope
U can dispose ur property
Thats developer's problem lo
If a good developer usually they must have at least master title once the property ready for sale


I say:
now horr
is like that... the building is 10 years liau.. already got master title long before the deveoper closed..
then the management ppl go apply starta title ,.. still in process..



HER says:
Tell u 1 secret
If they really got apply hor
It only take 3 week nia


I say:
ok
ok la
i dont care the starta title la
let say now only got master title
the transfer name also so mahuan meh?
if vendor and buyer agree liau tio finish liau ma


HER says:
If that easy bah good lo
Then u have the rest of the money to pay vendor or not???


I say:
?
10% la


HER says:
Now bank wont release money to u wo...
Without the strata title
Mean no more 90% lo



I say:
i told u lo
if like that all master title house also cannot sell lo
u understand bo


HER says:
Yah
Thats right
Sure i understand
My fren bought a apartment, new apartment
Half way built, developer die
Now
Still half way
Cannot sell, cannot stay
But
Loan still have to pay


I say:
i wan ask u la
if bank cannot approve loan la with master title then why they accept?
i mean.. if they cannot aprrove the loan they will reject it right?



HER says:
Haha
Thats the point
Earn ur money la if one day u personally give up lo


I say:
earn what? the transfer money? RM100 per 3 month?


HER says:
100 per month is government one
Ur loan legal fee they can earn a bit de ma
U think ur self now
U can
Try
Everyday u call the developer



I say:
no more developer liau lo
how to call?
:>


HER says:
Haha
Then i suggest u
Dont buy liao
If that developer really banktupt
Sue buy bond holder
U wont even get the master title


------------------------

Dear all sifu out there.. please advise

This post has been edited by yahiko: May 25 2010, 03:41 PM

..
okay shorten..

I wan buy apartment with vendor..
I engage banker for loan.
1 bank reject tell me that the developer bankrupt dy.. i panik..
i call my lawyer.. she say if bank say bankrupt most probably bankrupt liau
i call owner..he say not bankupt.. just inactive in development but active in other field.

The apartment still in master title.. i dono what to do dy