Feb 16 2015, 03:09 PM
QUOTE(Aseanity @ Feb 15 2015, 04:09 PM)
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
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?
Okay Bro, your Property is Commercial - so all the HDA rules such as A&P, Housing Tribunal is out the window.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
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?
So, you need to decide, you wanna proceed or walk away
If you walk away, must be prepared to lose part of your deposit
But for the Bank Letter of Offer, write a Letter to the Branch and CC to HQ and Bank Negara Malaysia that you wish to withdraw as you have been mislead by the Developer on the terms of the Sale and you do not wish to continue and you expect Maybank to waive all penalties cos
a) You were mislead - give full details on what terms was different
b) Have yet to sign any documents and Loan not drawdown - so no cost incurred
Remember to cc the Letter to BNM
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