Guys,

I've purchased a property here as well, long before I was aware of the underlying problems that come with it. I've signed the SPA and all the loan documents. Which means to say I've spent about 12K on getting all the documents and loans sorted. I receive a monthly statement from the bank I applied the loan from, and good news is there has not been any draw-down. The developer has not yet started to take money from the banks. What is important to know, I stepped into the sales gallery last month - people are still looking at the show-units and are showing interest to purchase although there has been so much uncertainty of late.

Any one has got updates on the court case and the status? Please update here. I'm quite positive this project will take off.

I am also a victim to this developer. I paid the RM5000 and signed the SPA and loan agreement. Quite a bit of money is stuck here. Since the project is officially called off, or at least from what I hear people discussing here - what are we going to do? Can we sue for damages? We have a signed SPA and the developer is going against their promise. If you read one of the clause in SPA, it clearly states that the developer is required to pay us in damages a certain percentage of the property amount in the event they do not deliver the keys in time.

Anyone got any idea on what we should do moving forward?

Mayland this is ridiculous and very unprofessional. Do not leave your customers in the dark. At least have the courtesy to write in to the affected people with an explanation. I purchased a unit here. Good thing is I have the SPA copy and there is a clause whereby the developer needs to pay compensation for late delivery.

This post has been edited by ashwark: Nov 16 2013, 02:54 PM

Is there any update on this project or the buyers have given up? Maryland has not contacted me on the status of the project.

What decision though? To withdraw or to persue? There has been a lot of frustration on my side not knowing what to do. Seems like I'm one of the few that have yet to withdraw from this project. I was hoping to hit them on the clause of delay in construction which is in the SNP.

It is. I am also doing the same thing for my property. There is a clause on vacant possession.

Seems like this thread is dormant for quite some time. I have yet to hear from Mayland on the progress of the court hearing. Anyone aware of the outcome?

Its definitely off. The question is now, what's next for the buyers that have already signed the S&Ps. I haven't written in to redeem my booking fee back. There is a lot more money spent on the legal fees and I am not willing to lose out on that. I'm thinking of waiting until completion date 2016 and see how to proceed from there.

Even the 10 percent is not released yet. Bank loan approved but no drawdown yet. Yes, loan agreement legal fees only. SPA legal fees settled by developer.