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EMPIRE RESIDENCES @ DAMANSARA PERDANA [OT], A futuristic gated and guarded community Investment
BEANCOUNTER
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Oct 16 2017, 10:26 AM
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QUOTE(corleone74 @ Oct 16 2017, 08:57 AM) i'm sorry, isn't SPA signed already? How to cut loss? stop payment? you can still be sued for the entire amount, unless there is a termination clause in the contract whereby you forfeit the 20% There are termination clause in spa...... More so if the project is still under 50% billed stage.
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bb68
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Oct 16 2017, 12:14 PM
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QUOTE(tonertoner @ Oct 15 2017, 03:25 PM) No, I pulled out fast enough although reluctantly initially due to the superb location. But after seeing too many flaws in the design I am glad I did. I forgot to mention that there is a big rectangle hole in front of the house where you can look down directly into the lower ground car porch. Beside it being ugly and not practical it is also dangerous for kids. That was hard to accept and even the agent didn't know how to answer that. There were too many design flaws with other parcel as well especially those that is slanted by 15% which means that your house is not straight. It is like trapezium like when you go in 🤦♂️🤦♂️. I have the feeling that the architect is a novice architect and is trying out of this world design suitable for mine craft game. Not forgetting the slope protection and drainage system. All built on very steep slope supported by steel structure that also require very careful maintenance. the Access roads also on steel... I wonder how much is the maintenance fee to collected just to make sure this place is safe...
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BigKingFish
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Oct 21 2017, 03:34 PM
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New Member
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Thanks for all the sifus view and opinions here. I went to their office to f*** them and request for full redund of 20% ( about 270k. But they just insist to refundd the 60k to me only. The 210k of 2nd payment will be fully forfeited. Wtf!!! Is this for real?
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BEANCOUNTER
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Oct 21 2017, 04:35 PM
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QUOTE(BigKingFish @ Oct 21 2017, 03:34 PM) Thanks for all the sifus view and opinions here. I went to their office to f*** them and request for full redund of 20% ( about 270k. But they just insist to refundd the 60k to me only. The 210k of 2nd payment will be fully forfeited. Wtf!!! Is this for real? you need to talk to lawyer.
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BigKingFish
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Oct 21 2017, 05:36 PM
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New Member
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That's why is anyone in this same situation? If yes, can we all do someting about it? On social media or housing dev? Tq
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tonertoner
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Oct 21 2017, 09:58 PM
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Getting Started
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QUOTE(BigKingFish @ Oct 21 2017, 03:34 PM) Thanks for all the sifus view and opinions here. I went to their office to f*** them and request for full redund of 20% ( about 270k. But they just insist to refundd the 60k to me only. The 210k of 2nd payment will be fully forfeited. Wtf!!! Is this for real? BKF, first of all be grateful that you finally see through this and make a life changing decision. Otherwise you could have worked your life through owing bank till 2050. I must also say that you are quite lucky to get back at least 70k. So 2 things to be thankful. Quickly bank it in first!!! Next step is to talk to your lawyer and be prepared that it is a long and painful process. Whatever it is you have got yourself out of a deep hole and whatever that you get from them later is considered a bonus. Keep the forumers here updated and I hope more buyers will have a good outcome. Cheers Bro and all the best.
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urbanite
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Oct 21 2017, 10:32 PM
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Getting Started
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QUOTE(tonertoner @ Oct 21 2017, 09:58 PM) BKF, first of all be grateful that you finally see through this and make a life changing decision. Otherwise you could have worked your life through owing bank till 2050. I must also say that you are quite lucky to get back at least 70k. So 2 things to be thankful. Quickly bank it in first!!! Next step is to talk to your lawyer and be prepared that it is a long and painful process. Whatever it is you have got yourself out of a deep hole and whatever that you get from them later is considered a bonus. Keep the forumers here updated and I hope more buyers will have a good outcome. Cheers Bro and all the best. If you accept the RM70k, you will likely be asked to sign a full and final settlement letter and confirm that you will have no further claims against the Developer.
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BigKingFish
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Oct 22 2017, 12:03 AM
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New Member
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I didnt sign it cos the damn letter didnt write when will pay me the 70k. I worry they will drag and pay me back / dont pay after few years from the signing. So its damn f***ed up. Still thinking whats my next move. Thats why post here ro get more opinions or see whether got any casualties like this.
Fingers crossed.
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joe.tham
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Oct 22 2017, 12:45 AM
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Getting Started
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QUOTE(BigKingFish @ Oct 21 2017, 03:34 PM) Thanks for all the sifus view and opinions here. I went to their office to f*** them and request for full redund of 20% ( about 270k. But they just insist to refundd the 60k to me only. The 210k of 2nd payment will be fully forfeited. Wtf!!! Is this for real? developer have the right to forfeit all the 20%. can share/pm with me what reason u give them they refund u 60k? I facing the same issue with developer
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tonertoner
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Oct 22 2017, 12:49 AM
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Getting Started
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QUOTE(BigKingFish @ Oct 22 2017, 12:03 AM) I didnt sign it cos the damn letter didnt write when will pay me the 70k. I worry they will drag and pay me back / dont pay after few years from the signing. So its damn f***ed up. Still thinking whats my next move. Thats why post here ro get more opinions or see whether got any casualties like this. Fingers crossed. My opinion is to get out now before you can't get out as I presume there is a stage where there is point of no return. It could be wise to avoid paying more than to get back compensation ( I am not saying give up in this. U must still fight and weigh which is the best option). But I think u have to be prepared for a loss already. U know in Malaysia, even if U drag them to court it will take years and years to recover your money and U have to consider the legal fees you are going to bear and all the psychological impact and time loss. It could impact your career if u spend too much of your energy on this which is an opportunity cost. U must know that will always be bad investment. It most importantly is you got to live to fight another day. I do hope for the best for u Bro. I do have special interest in this project as I almost got stuck as well. What I hope for is it ends well for everyone including Empire Mammoth as they have to take care of Emoite City as well. Don't wish to see so many investors money got stuck here and there.
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BEANCOUNTER
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Oct 22 2017, 10:52 AM
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tis project has not been abandoned yet, officially.
if you want to pull out or cancel yr SPA, normal cancellation of spa procedures will follow. Do read your spa and usually you can guestimate how much losses you will suffer.
UNLESS you can come out with bank loan rejection letter, if you have not signed the bank loan agreement.
if you bad mouth developer via social media and etc....beware of kena sue for defamation.
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noiseemunkee
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Oct 22 2017, 11:02 AM
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is it too soon to breach spa and call the project abandon? or is it just slow and developer need to find way to raise cash? just abother possibility to weigh
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westthen
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Oct 22 2017, 01:56 PM
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but seems it's late until so slow the LAD will be very high to a certain extend.....so is it still feasible for them to cont the project?
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kochin
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Oct 22 2017, 07:34 PM
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Cut loss may be the best option rather than carrying the entire full debt
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Yippie123
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Nov 18 2017, 10:09 PM
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Getting Started
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Any further update to this development? Is the construction on going?
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bat11
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Nov 20 2017, 09:48 PM
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QUOTE(bb68 @ Nov 20 2017, 09:31 PM) night peek. one or two moved in... So daring to move into valley of the shadow.... Hahahaha
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BEANCOUNTER
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Nov 20 2017, 10:12 PM
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QUOTE(bb68 @ Nov 20 2017, 09:31 PM) night peek. one or two moved in... VP for one year or more jor...........only 2 to 3 cats moved in........... jialat
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bat11
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Nov 20 2017, 10:58 PM
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QUOTE(BEANCOUNTER @ Nov 20 2017, 10:12 PM) VP for one year or more jor...........only 2 to 3 cats moved in........... jialat Wow.. VPed? I passed by recently still like abandon construction site with some house hanging on the hill....
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BEANCOUNTER
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Nov 21 2017, 12:39 AM
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QUOTE(bat11 @ Nov 20 2017, 10:58 PM) Wow.. VPed? I passed by recently still like abandon construction site with some house hanging on the hill.... ER got many phases.... The 1st phaae already vped.....maybe 2nd phase too... Thats why u see lights in the houses. The top rows ware the last to launch.
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