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> Developer Negative Watch List, With bad histories to look out for

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spikyz
post Jan 15 2011, 04:54 PM

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Full article is in here

http://www.starproperty.my/PropertyScene/T...ghtBox/9558/0/0

» Click to show Spoiler - click again to hide... «


But the main part i want to highlight is this

QUOTE
On another matter, Chor urged house buyers to be extra careful when planning to buy property.

“It has been brought to my attention that some developers, who have been blacklisted and barred from applying for a developing licence, have been conning house buyers into paying them 10% down payment for new housing projects.

“However, these projects cannot take off because the developers do not have the required licences,” he said.

Chor advised house buyers to check the background of the developer before making a down payment.

On the Housing Development (Control and Licensing) Act 1966, Chor said the ministry would table an amendment in Parliament by June to allow the authorities to prosecute developers who abandon projects.


and not to point any finger to any development. But one can find a development discussed in this forum before, which they asked for downpayment 10% or RM5k, RM10k.. well u better be careful..

List u should do:

1) Check developer background (Past project, current status-whether blacklist by gov)
2) Check with Majlis Pembandaran, whether the project have d green light to start the progress

well i will add some more later, any advice that we can share to forumers?
spikyz
post Jan 15 2011, 10:00 PM

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so far what i heard, they submit the application to MPS. still in process.

the questionable move is, they ask for downpayment before receive d license. so they must be really confident they can get the license? anyway, beter be careful than sorry
spikyz
post Jan 16 2011, 02:07 AM

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as per request, this valid @ Sept 2010

source is from here
QUOTE
» Click to show Spoiler - click again to hide... «

spikyz
post Jan 17 2011, 12:57 AM

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no wonder i cant find my thread, mod transfer and merge it here. Thanks nway mod smile.gif

well, u can always can KPT to get the latest update about d blacklist company, or ask the company itself, ask them what about their status? last time is blacklisted, what is the recent news?

again, this is not to say which company is bad or whatsoever, its just a precautions to fellow member. cheers

 

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