Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

> Cancel purchase.Paid 10k booking fee.Can refund?, Failed to get 90% LTV for 3rd prop (Investment)

views
     
TSzib5
post Jul 4 2012, 10:27 PM

Getting Started
**
Junior Member
80 posts

Joined: Feb 2012
QUOTE(peet @ Jul 4 2012, 11:25 PM)
Developer should refund. Make noise all the way to the top.
*
This is not sunrise.

This is Tanah Perangsang and Prinsiptek is their subsidiary I think.


danny2002
post Jul 4 2012, 10:28 PM

New Member
*
Newbie
3 posts

Joined: Jun 2012
QUOTE(Hunakadoo @ Jul 4 2012, 09:08 PM)
Try to talk to banker , u only need 90% loan , if can't get 90% loan , just write a reject loan letter to u .
talk nicely with the banker  smile.gif
*
Hi, i hv experience with similar case, when the bank can't offer 90% loan (but can offer 85%) can ask them issue reject letter. I been take back my all the booking fee (only minus credit card charges).

Sometimes depend on the developer...

rakyat
post Jul 4 2012, 10:30 PM

I got stars
******
Senior Member
1,348 posts

Joined: Nov 2008
From: USJ


QUOTE(zib5 @ Jul 4 2012, 10:22 PM)
no point also as the buyer is unable to fork out another 20% (after 10 % rebate by developer.)
*
Then I suggest that u talk to the developer. Most of the time they will not be too unreasonable esp now that the market is hot and easy to find another buyer. I'm confident u will get ur money back, worst case u need to pay some admin fees.

Do it immediately b/4 it's too late

Update us on the result. Good luck

This post has been edited by rakyat: Jul 4 2012, 10:31 PM
TSzib5
post Jul 4 2012, 10:32 PM

Getting Started
**
Junior Member
80 posts

Joined: Feb 2012
QUOTE(danny2002 @ Jul 4 2012, 11:28 PM)
Hi, i hv experience with similar case, when the bank can't offer 90% loan (but can offer 85%) can ask them issue reject letter. I been take back my all the booking fee (only minus credit card charges).

Sometimes depend on the developer...
*
My case they can offer 90% but my CCRIS showed Pending for the 2nd loan at the time of application.

So they approved this at 90% based on that. But this is the 3rd mortgage apparently. Can't outsmart them u see..

But the offer letter still states that they will do random check after disbursement or even after full disbursement if I have another property loan executed after signing this LO.

The banker can't guarantee this 90% rate as they will audit at random since Bank Negara enforces this strictly.

This post has been edited by zib5: Jul 4 2012, 10:34 PM
peri peri
post Jul 5 2012, 09:42 AM

10k nonsense talkative club
********
All Stars
11,855 posts

Joined: Mar 2012
From: Kuala Lumpur



QUOTE(zib5 @ Jul 4 2012, 10:10 PM)
It is actually Vue residence.
*
Thats prinsiptek project. I got member work inside.
dino10chels
post Jul 5 2012, 10:59 AM

Enthusiast
*****
Senior Member
936 posts

Joined: May 2012
From: Klang Valley
Since this is ur 3rd prop then u must understand that the max loan is 70%, its a bit nonsense for u to ask for a 90% loan. At the end cant get 90% loan and u want developer to refund, sure cannot lo....i think ur messing things up only doh.gif
TSzib5
post Jul 5 2012, 11:08 AM

Getting Started
**
Junior Member
80 posts

Joined: Feb 2012
QUOTE(dino10chels @ Jul 5 2012, 11:59 AM)
Since this is ur 3rd prop then u must understand that the max loan is 70%, its a bit nonsense for u to ask for a 90% loan. At the end cant get 90% loan and u want developer to refund, sure cannot lo....i think ur messing things up only  doh.gif
*
Bro,I haven't sign any SNP agreement yet. Why can't they refund my 10k booking fee?it is not 1k like other projects.

If I can't get it back this is like daylight robbery.

Easy to say I am messing things up as this 10k is my money not yours. What if it is your money bro?


Chill
dino10chels
post Jul 5 2012, 11:14 AM

Enthusiast
*****
Senior Member
936 posts

Joined: May 2012
From: Klang Valley
QUOTE(zib5 @ Jul 5 2012, 11:08 AM)
Bro,I haven't sign any SNP agreement yet. Why can't they refund my 10k booking fee?it is not 1k like other projects.

If I can't get it back this is like daylight robbery.

Easy to say I am messing things up as this 10k is my money not yours. What if it is your money bro?
Chill
*
i think the SA already told u that they will only refund u the money if u got rejection letter from the bank...
I also bought prop & before that i'll ask whether deposit can be refunded and under which circumstances but ur case... doh.gif u go fight with them la
mjviva
post Jul 5 2012, 11:48 AM

Getting Started
**
Junior Member
69 posts

Joined: Aug 2011
take it as a lesson.

This post has been edited by mjviva: Jul 5 2012, 11:49 AM
dragon_lee
post Jul 5 2012, 01:10 PM

~Think Different~
*****
Senior Member
744 posts

Joined: Oct 2011
From: ~The Millionaire's Mindset~



Always remember before you pay for your booking fees for any projects, remember to ask the Terms & Conditions of refund.

I ask for all my purchases and SA are more than happy to share with you.

Some developer required at least 2 Rejected Loan Offer Letter while some need at least 3.

Even DIBS is not for every panel bank..only selected banks


dino10chels
post Jul 5 2012, 04:38 PM

Enthusiast
*****
Senior Member
936 posts

Joined: May 2012
From: Klang Valley
QUOTE(dragon_lee @ Jul 5 2012, 01:10 PM)
Always remember before you pay for your booking fees for any projects, remember to ask the Terms & Conditions of refund.

I ask for all my purchases and SA are more than happy to share with you.

Some developer required at least 2 Rejected Loan Offer Letter while some need at least 3.

Even DIBS is not for every panel bank..only selected banks
*
rclxms.gif smart buyer ... brows.gif
doinkboy
post Jul 5 2012, 05:21 PM

Getting Started
**
Junior Member
104 posts

Joined: Mar 2005
Bro,

Contact Maybank and HSBC,either one and tell them you insist of getting 90% loan, in which you will get a official reject letter.
Then use the reject letter from the banks and show to developer say u cant get loan. They might charge a few percentage
as admin charges and refund the balance to you.


From,
YM
TSzib5
post Jul 5 2012, 08:17 PM

Getting Started
**
Junior Member
80 posts

Joined: Feb 2012
called their HQ but they told me to write a cancellation letter to them.

Does anyone has any sample for this purchase cancellation letter?

Thanks.
mzmz
post Jul 5 2012, 08:30 PM

New Member
*
Junior Member
35 posts

Joined: Dec 2009


they have no reason what so ever to take your money. it happened to me twice and in both cases the developer refused to refund me until I send them a copy for them for the date of hearing from consumer tribunal court as well as a copy of report case from housing tribunal, the next day I got a call to collect my cheque.
siakap5
post Jul 5 2012, 09:21 PM

Casual
***
Junior Member
443 posts

Joined: Feb 2012
A letter from bank stated 90% not approve will bring back yr deposit. Period.
Vestor
post Jul 5 2012, 11:38 PM

Enthusiast
*****
Senior Member
825 posts

Joined: Apr 2012
Bro, maybe you can try to lodge report to the MInistry of Consumer Affairs? Make a bit of noise there, GE is near...maybe apa pun boleh?
kok_pun
post Jul 6 2012, 12:34 AM

Mortgage Expert
*****
Senior Member
741 posts

Joined: Oct 2009
OC will penalize you 1% on the total loan sum if the Letter of Instruction is issued to the solicitor
rakyat
post Jul 6 2012, 09:21 AM

I got stars
******
Senior Member
1,348 posts

Joined: Nov 2008
From: USJ


QUOTE(zib5 @ Jul 5 2012, 08:17 PM)
called their HQ but they told me to write a cancellation letter to them.

Does anyone has any sample for this purchase cancellation letter?

Thanks.
*
doh.gif rclxub.gif

Bro, It seems to me that the developer agree to cancel your booking (probably full refund?) and all you have to do is write in officially.

Sample??? You are writting to a developer not a lawyer. Most of these guyz are SPMer (picture Pua Chu Kang tongue.gif ) you do not need immaculate grammer. Just drop a note.

One of my cancelation, I wrote on a recycle paper with a pencil (SA lansi don't want to pinjam paper or pen) oso dapat full refund.

Just do it!!! Now!!! else your booking is sent ot the lawyer for 'processing' then you kena admin charges

This post has been edited by rakyat: Jul 6 2012, 09:23 AM
dragon_lee
post Jul 6 2012, 10:31 PM

~Think Different~
*****
Senior Member
744 posts

Joined: Oct 2011
From: ~The Millionaire's Mindset~



Wonder which developer is that, don't even lend a pen and provide a paper? Perhaps he/she is upset over the cancellation.

Not professional IMHO.

TigerWOW
post Oct 23 2013, 01:43 PM

New Member
*
Junior Member
40 posts

Joined: Oct 2013
I have read the HDA Schedule H (Sale and Purchase agreement)
as a reference :-

if loan not approved, purchaser need to show proof for refund. but still need to pay 1% Of Purchase price

so.. anyone know how to get 100% refund?

3 Pages < 1 2 3 >Top
 

Switch to:
| Lo-Fi Version
0.0847sec    3.30    5 queries    GZIP Disabled
Time is now: 20th August 2019 - 11:24 AM