Nov 1 2019, 04:37 PM
QUOTE(hkchan231 @ Oct 30 2019, 06:58 AM)
Not sure how far i can hold the interest before the bank issue me warning letter. now really feel on paying money for nothing....i
just don't understand, how come the bank issue to the developer 50% where my house (floor) is even not build a single brick...... i think paying a premium for completed units should be better inorder to have suck painful wound every month....😖
Except bank fd, there is risks in every investment. as long as you keep up to date with your loan commitment, bank won't issue any notice. how long you could sustain is depending on your income and expenses. bank is obliged to pay to qs certificate. hence, it is not bank's fault to pay so much.just don't understand, how come the bank issue to the developer 50% where my house (floor) is even not build a single brick...... i think paying a premium for completed units should be better inorder to have suck painful wound every month....😖
those have experienced or know of this predicament preferred to pay a premium for completed units.
QUOTE(gks @ Oct 30 2019, 09:55 AM)
Sorry to hear the purchasers ended up in such predicament. The best you all can do now as purchasers is to group up, and discuss next course of action. As a group, you will have more leverage (and pool the money) when engage with developer, financier and future white Knight.
As long as developer didn't declare themselves bankrupt, liquidator couldn't be appointed to savage the project and to appoint White Knight to continue with the project.
at current stage of construction and amount banks have paid, there is only bones with little meat left for white knight to consider. doubt any white knight is interested unless through liquidator and value as close to salvage value.As long as developer didn't declare themselves bankrupt, liquidator couldn't be appointed to savage the project and to appoint White Knight to continue with the project.
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