Lawyer's Corner v2, One-stop centre for any legal queries
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 Sep 25 2012, 12:34 PM
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#1
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Senior Member
3,774 posts Joined: Mar 2012 
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Any sifu can comment because if the project under HDA, under the HDA Act/Regulation:
No housing developer shall collect any payment by wahtever name called except as prescribed by the contract of sale. Under the standard SPA in the Act/Regulation, only the 10% is provided upon signing SPA. Hence legally the developer can only charge some admin fee and cannot forfeit the booking fee, right? |
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Sep 25 2012, 02:03 PM
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#2
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Senior Member
3,774 posts Joined: Mar 2012
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QUOTE(dariofoo @ Sep 25 2012, 01:41 PM) Forfeit the booking fee for what reason? Please provide more details. Let say after paying booking fee change mind and not sign S&P, can the developer forfeit the booking fee or can developer only charge the admin fee? What is the protection to consumers under HDA and HDA regulation? |
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Sep 25 2012, 03:47 PM
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#3
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Senior Member
3,774 posts Joined: Mar 2012
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QUOTE(dariofoo @ Sep 25 2012, 02:35 PM) You're right. Under the HDA, 10% is paid upon execution of the SPA and nothing earlier. It also does not allow the developer to contract out of the terms of Schedule G or H in the HDA. How much you estimate to engage a lawyer just to issue a demand letter quoting the HDA Act?However in reality, the practice is for developers to collect a booking fee. My opinion is that they have to refund the booking fee to you less any admin charges allegedly incurred. If they forfeit the whole sum your remedy is to appoint a lawyer to sue but most people do not do so simply because the cost of hiring a lawyer would be more than the booking fee itself. |
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