around 500psf

I know all developer do the samething... by law, developer has no right to collect money before AP, so they found a way which is parking the money with the lawyer... (I oso bought those kinna property and between booking and SNP was 3 months).. in short, the developer is not holding your money. You were think AP is to print papers and pamplets? check is there registration number at the bottom of those adverts and check other developer's adverts which already has AP..

please dun say FULLY SOLD when none of the buyers sign SNP, it is just fully booked.. If its sold, why is it still cancellable?

Peace

This post has been edited by twincharger07: Feb 15 2012, 04:32 PM

I just wonder who gets the interest of the money, the developer or the lawyer company. It can be significant if the delay is like 6 months.

since no S&P signed, can developer cancel the booking? how much to compensate the "booker"?

Well you should ask the banks how they can approve loan based on this developer info, does the banks collaborate with the developer just for financial reason, technically again how the banks the breach the law or BNM rule

Malaysia boleh !

that is just LO..

the actual is loan agreement which requires SNP to show proof of purchase..

got LO, but no SNP still doesnt workout..

Very well said.. Is time for u guys to differentiate fully BOOKED and fully SOLD. Look at the sales agent, if he/she said fully SOLD, he/she has given the first impression of mis-information. So don bother the later part where more will come.

---

Added on February 15, 2012, 9:28 pmNormally in this stage, developer reserve the right to cancel your booking any time they want without prior notice. Dev wil only refund u. U can't sue the dev for compensation cause u booked it, not buy it. Same goes to any items that being sold in the market.

---

Added on February 15, 2012, 9:35 pmThis is the loop hole of the HD law. Even the HM can't take any action against the dev, because the money is hold by their panel lawyer like someone had mentioned, and so, they are not against any breach of law. Sorry to say that.
Meanwhile, there is a phrase by Murphy's law.
"when a new law created, a new loophole was also created"

This post has been edited by clanzkiller: Feb 15 2012, 09:35 PM

Well said my friend where was you from the beginning when I warned this forum, well the buyers have a avenue go to House Buyers association and HM for explanation, the banks are in the wrong, the developers has breached cant hide behind the curtain cause we got so many evidence , if you want to take on the developer act not, I will ask the media to go to the developers office with housing ministry officials and HBA officials kindly let me knw the date and I will activate them for you guys, the bankers will be summoned together for qualifying the loan

I think the buyers do not want you to do that. I think the buyers are not even worried about the developer cancel the project before S&P is signed. The developer has not gone every deep into it yet, chances is that it will refund the booking fees and worst come to worst the buyers liability is just the down payment. What's more the money is with the lawyer at this point, and not the developer.

The buyers only worried about abandon project after S&P (and Loan agreement ) is signed. Given today's law I am not even sure if it makes a difference to the buyers, if it is a project with proper blessing from a few pieces of paper verses a project without. The buyers are screwed either way.

Maybe someone who is knowledgeable in Housing Act can enlighten me.

This post has been edited by puchongite: Feb 16 2012, 06:14 AM

Fully booked, fully sold ... as long as buyers did not cancel the booking and willing to forfeit the booking fee or dropout bcos of loan rejection, to me the meaning is the same la .....
And to the Leafz buyers, I am sure u all are aware that the AP not issued, then why still book ? In the Housing Ministry website on tips on buying a home also states we should look out for 2 items before buying/booking ... developer licence and AP. And, we still "bodoh-bodoh" go ahead and buy, so whose fault in entering into an "agreement to book/buy" and willing to pay thousands of ringgit of booking fee ???

Now is a matter of the SnP, bila sign saja. My last property (which I sold off liao) also SnP signed 4 months later, so looks like this is the norm in Malaysia .... 1Malaysia !

Wonder whether the thing we should do is to actually ask why the govt. division why so long to approve then AP, so that we could "secure" the booking and SOLD ! And so tat we could sign the damn SnP.
Or we want to take action on all those developers who has not got AP but their lots/units were booked/sold ?

What do we all want now ? Me confused dy ......

---

Added on February 15, 2012, 11:06 pmTotally agree .... I want the project to go on .......... go find another developer to take action on, can ah ?
Bcos I don c any issue with it as long as the buyers want the project to go on ......
U r not paying the loan yet so only the booking fee is tied down.

Maybe it's time for us to stop on this issue and move on .......I think it has gone out of proportion !


This post has been edited by Carmenyee: Feb 16 2012, 12:44 AM

recently developers are making tonnes of money from preview, soft launches and ripping profit from the public..
usually the price of later phases are inflated due to artificial demand created by those booking of the early phase.. those early phases are not even bought yet.. until when it comes to signing snp, in some development you can see units are dropping out one by one and got filled in from waiting list with further increase price..

some of the artificial demand is created by developer during early phase giving the impression that the product is hot selling, which those units are locked by them and release later at a higher price..

stickers on sales chart is a fun game for developers as they can stick and tear to create emotional buys from buyers.. ordinary buyers will always think its almost fully sold and must get 1..

developers can get the whole sticker board filled even before AP..

nothing unlawful about it... we are all trapped by emotions and letting them ripping higher profit..

I hope that will work so it can really lower down speculation and allow more REAL home buyer to have a chance.
But bare in mind, it seems like most of the dev did this. Be it public listed or small potato. If HM take stern action against this dev, mostly all will have to be filed as well. Next, nothin will happen also. Is like a waste of time. Breaching the law of selling before permit, is only when dev received payment directly from buyer, and developer issued official receipt, and the money go into the dev bank acc. Otherwise, your single piece of booking form, is not sufficient. Only required 1 sentence to kill off your hard work, which is, 'where is your receipt?'. And alot more tweeds..

This post has been edited by clanzkiller: Feb 16 2012, 01:06 AM

We are talking about selling without AP and you are talking about developer creating artificial demand. I don't see a strong link between the two. Even selling with AP, the artificial demand can still be created, stickers can still be placed on the sales chart at will and fancy, and people can still drop out after "booking" - so long as developers allow easy exit and changing buyers' names. Honestly I failed to see the link of it with selling with and without AP.

Call Housing Buyers Association http://www.hba.org.my/main.htm and the Housing Ministry to verify on this issue, my concern is principle you don't take consumers for a ride, if they are reputable developer they should come forward and address this issue with the buyers.

Its Ethics when we do business

Since u think there is no Ethics in doing bzness for this developer, r u willing to drop out yr unit ???!!!

I think most buyers would of course like to see the project comes to fruition. But aren't our over-enthusiasm clouding our common sense to see if the developer is pulling any prank? For example, if someone here were to find out before S&P signing if the developer has not acquire the basic approval to develop a land or very heavily in debt or the top man being a famous scammer or put it bluntly, just want the money and run off, will we continue to sign the S&P? Will we not be glad that all that we lost is our deposit only?
Selling without permit and approval and parking the money with the lawyer is possibly not bad and it could be a trend but it is also a sign to take note of.

To bring it to the media, I would say is overexaggerating and overdoing. I want to find out, not bring down the developer. So, for start, Carmenyee has asked something good.. what is taking the developer so long to acquire the license and permit?

I really have zero experience in this but I want to find out more things not from the word of the developer. For start, perhaps it is time to visit/call the KPKT about this project. Hopefully, with the received attention they could enlighten us a bit about the project or possibly hasten up the process.

Ya, this really has blown out of proportion ... not only bring down developer, bring down the banks also leh !!!
The question shd be to the Housing Ministry ....why so long in granting the AP ? What are the issues ?

What about Treez ? it is the same developer right ?
It's also sold out before launch right ? Artificial demand ?
I wonder whether the buyers encountered the same situation as us .......

But I still hope we could give this a rest .......

This post has been edited by Carmenyee: Feb 16 2012, 12:41 PM

Its not mine its my friends unit and I have informed him on this issue

---

Added on February 16, 2012, 4:17 pmIts not blowing out of proportion , its just taking precaution better save than never

This post has been edited by Fabio1: Feb 16 2012, 04:17 PM

property buying in bolehland is like gambling.. haiz..