Hey guys,

Here is the problem...
one years ago on 2014 Feb.
We pay a Rm10K booking fees on a newly launched property in Penang.
The agent explained to us it is a COMMERCIAL title apartment and to be finished by 2018.
and there would be NO 6% GST incurred on top of house's price.

We applied loan and signed loan offer letter from Maybank.

After 1 years, we are informed to sign the S&P.
It catch us surprise:
1) The property is delay to 2020 to be finish
2) There will be 6% GST to be charged on top of house price
3) This project haven't got approval from government
4) Facilities reduced
5) maintenance fess not mentioned in SPA

When we ask to cancel our booking due to false advertised to this project. we have been informed only could claim back 50% of booking fees. Besides, we will have to pay a penalty to Maybank to cancel the loan offer as well.

This i my first house and do no have much idea to handle this problem
Any wise man could give us some advice?

Developer:
Cosmopolitan
Subsidiary company to develop:
Aspen Vintage
Project:
Urban Suite


This post has been edited by Aseanity: Feb 25 2015, 09:57 PM

Thanks guys for your suggestion.
Just asking, whether anyone heard any case similar to my current condition and successfully claim back his deposit and loan offer penalty?

Because this is commercial title, the developer is drafting the contract according to his favor.
1)your first point is valid, I am gonna argue from there.
2)I have signed in black and white in the purchase form when paying RM10K booking fees.so how?
3)It is pretty hard to judge for the waive of gst now as the current project haven't got approve by the authority

Gonna look for authority and lodge report at TTPR

Yeah, I know about that. But would like to hear more advice from lowyat, every alternative to me is better.

The so called deposit is debit to the lawyer firm, technically the developer cant accept any booking fees so there is some "workaround" for them to charge you.

I am no sure either. I hope there is some one who has background in law could answer this

This is the worst case scenario I think I have to prepared.

I was hesitating to disclose the project name and the developer as I still hope they can settle my problem in happiness.
Let me have one last call with the agent tonight, if they still do nothing. I will update in this topic for sure.

was busy with CNY~~
I am still in the progress of claiming back my deposit( at least more than 50%)
I have lodge a report in tribunal. The officer is very friendly and the process is very simple.
You just have to submit your proof of deposit and wait within 120 days for the hearing session.
Beside, I updated the details of the project and developer.