Heyyy Dario,.. Gretel is doing well,... but she ate too much of a gingerbread recently,... haha,.. that was the story, right ?

I heard that it's a method whereby if a landed property is not completed within a certain period, the purchasers can appeal for assistance from their respective Local Authority to help them (the purchasers) take back the rights to their houses from the Developer, after which the purchasers can then proceed to complete their houses with their own funds till the houses can be resided in, and subsequently, apply for the CF too.

This method is especially useful for landed properties, and easier to execute too.

I wonder if this framework is really something beneficial to would-be purchasers and purchasers who are currently caught with abandoned projects. Sorry, no personal experience here. never been caught by such a thing before.

What that interests me is that this is something revolutionery for the housing industry as a whole.

This is a very unique news. Which means these purchasers have managed to follow all procedures related to the application of CFO from the local authority, I recalled my friend telling me earlier it was not easy. Even developers have problems doing the application.

So purchasers can apply for CFO now. There is hope for abandoned projects now for purchasers who are able to secure funding to recover their investments till CF issuance. I think if the purchasers can work out the procedures to abide to all rulings and regulations for CF application by the local authority, the banks will allow the loan disbursements to be given to the purchasers instead of the developer, since the purchasers will complete the property.

Maybe sifus here can give opinions.

This authority is really helping the people. Really great.

I have been asking my kakis around, some of them have had their houses abandoned too. I think this activitiy that hansel mentioned is in MPS or majlis Perbandaran sepang. The abandoned houses which were taken back by the purchasers themselves are in that area. Any purchasers here can confirm this ?

Yeah,......... Happy Birthday to Dario