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Developer Foul Play On LAD, LAD
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TSwhyang80
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 Mar 26 2015, 10:59 AM
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Getting Started
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QUOTE(Chris Chew @ Mar 26 2015, 10:53 AM) Bro, is the dev willing to pay full 5 mths late charges based on discount price ? If it is, then I advise u to take it. Else, legal process delay longer and u have to pay legal charges and the processing period also unable to get the key while paying the full bank installments. Not advantage as a buyer. Btw, I feel its fair if they give LPI based on discounted price since that was the actual purchase price. If it reflected into the S&P, then all purchasers kenot pay 2% and enjoy 8% disc while obtained 90% loan dy. Developer is not willing to pay back the interest inccured. It's paid by US. Discounts given by them to attract buyers. So your telling me i am at fault to accept the discounts ? Upfront i already paid for 5 months interests. I keep my word by paying but they dont keep their words. If everything written in S&P serves no purpose, then why need to have S&P ? Developer can change anytime. |
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Chris Chew
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Mar 26 2015, 11:04 AM
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QUOTE(whyang80 @ Mar 26 2015, 10:59 AM) Developer is not willing to pay back the interest inccured. It's paid by US. Discounts given by them to attract buyers. So your telling me i am at fault to accept the discounts ? Upfront i already paid for 5 months interests. I keep my word by paying but they dont keep their words. If everything written in S&P serves no purpose, then why need to have S&P ? Developer can change anytime. I tot u hint on ur first post that dev mentioned the LAD calculated based on nett S&P price, so I assume the dev is willing to pay LAD but now dev not willing to pay? Btw, I nvr claim u r at fault leh. Doubt my statement said so. |
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TSwhyang80
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Mar 26 2015, 11:11 AM
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Getting Started
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QUOTE(Chris Chew @ Mar 26 2015, 11:04 AM) I tot u hint on ur first post that dev mentioned the LAD calculated based on nett S&P price, so I assume the dev is willing to pay LAD but now dev not willing to pay? Btw, I nvr claim u r at fault leh. Doubt my statement said so. Developer not willing to pay based on the Purchase Price which is stated in the S&P. They only willing to pay based on Nett Price (which is lower) which is a breach of contract. S&P stated Purchase Price. |
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Rayzio
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Mar 26 2015, 11:30 AM
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New Member
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QUOTE(Chris Chew @ Mar 26 2015, 10:53 AM) Bro, is the dev willing to pay full 5 mths late charges based on discount price ? If it is, then I advise u to take it. Else, legal process delay longer and u have to pay legal charges and the processing period also unable to get the key while paying the full bank installments. Not advantage as a buyer. Btw, I feel its fair if they give LPI based on discounted price since that was the actual purchase price. If it reflected into the S&P, then all purchasers kenot pay 2% and enjoy 8% disc while obtained 90% loan dy. +1 |
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TSwhyang80
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Mar 26 2015, 11:39 AM
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Getting Started
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QUOTE(Rayzio @ Mar 26 2015, 11:30 AM) Well maybe for you can accept. For me i cant accept it. A is A . B is B. S&P is agreement between both seller and purchase agreed upon. Even if it takes long time to fight this case. I can pay upfront the deposits to get the keys 1st. No delay. Just refused to accept the LAD payment. If we let developer to alter something as they want, maybe in future...developer will take more advantages...That's my feeling. |
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Babizz
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Mar 26 2015, 12:10 PM
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unless the amount runs into tens of thousands, i would nt fight this case.. as boss chris mention, this case might take a long time n cost involving high legal fees.. im quite sure, the only guy who will walk out of this happier would be the lawyer =).
If prop is 500k (before rebate), then u will get RM15.3k using their method.
if using the snp method, then u will get RM16.6k..
Overall difference only 1.3k. legal fees duno how much.. good luck
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TSwhyang80
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Mar 26 2015, 04:47 PM
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Getting Started
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QUOTE(Babizz @ Mar 26 2015, 12:10 PM) unless the amount runs into tens of thousands, i would nt fight this case.. as boss chris mention, this case might take a long time n cost involving high legal fees.. im quite sure, the only guy who will walk out of this happier would be the lawyer =). If prop is 500k (before rebate), then u will get RM15.3k using their method. if using the snp method, then u will get RM16.6k.. Overall difference only 1.3k. legal fees duno how much.. good luck For info sharing : I just got off the phone with the Tribunal. The person in charge stated that the Court has already decided that LAD payment is from Purchase Price. Latest case Nov2014 confirmed that LAD must be calculated from Purchase Price in S&P and Not Discounted Price. The person in charge attributed that many such cases from developers not following the protocol. Requested me to submit for tribunal. |
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strguy
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Mar 26 2015, 04:53 PM
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Getting Started
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QUOTE(whyang80 @ Mar 26 2015, 04:47 PM) For info sharing : I just got off the phone with the Tribunal. The person in charge stated that the Court has already decided that LAD payment is from Purchase Price. Latest case Nov2014 confirmed that LAD must be calculated from Purchase Price in S&P and Not Discounted Price. The person in charge attributed that many such cases from developers not following the protocol. Requested me to submit for tribunal. I just booked a unit from MCT.... based on what u faced now I think i need to reconsider my booking in MCT... Tribunal doesn't need lawyers.... MCT also cannot use lawyers.... case have to fight individually.... I heard the process is fast.... |
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puchongite
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Mar 26 2015, 05:01 PM
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QUOTE(whyang80 @ Mar 26 2015, 04:47 PM) For info sharing : I just got off the phone with the Tribunal. The person in charge stated that the Court has already decided that LAD payment is from Purchase Price. Latest case Nov2014 confirmed that LAD must be calculated from Purchase Price in S&P and Not Discounted Price. The person in charge attributed that many such cases from developers not following the protocol. Requested me to submit for tribunal. Tribunal got people take call one ? So nice. |
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TSwhyang80
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Mar 26 2015, 05:11 PM
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Getting Started
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QUOTE(puchongite @ Mar 26 2015, 05:01 PM) Tribunal got people take call one ? So nice. Maybe can read through this article. There's a link to the webpage of the tribunal. http://www.thestar.com.my/News/Nation/2014...-late-delivery/ |
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stevecheahsw
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Mar 26 2015, 07:09 PM
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QUOTE(Boldnut @ Mar 25 2015, 10:16 PM) not worth it unless the amount is very big, last time my DSL delay 2 months they pay me 1 month only. 2 month become 1 month = 50% LAD. Is good already!! |
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stevecheahsw
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Mar 26 2015, 07:12 PM
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QUOTE(whyang80 @ Mar 26 2015, 10:40 AM) I blasted back at them today. They informed last time when we bought that time , they already gave out discounts to us so it's fair to calculate based on Nett Price. I blasted back that then you should changed your S&P. I bought with discounts and never expect to have 5 months delay and that i have to fork out interest for the last 5 months because DIBS has expired. I hope everyone will share this information to everyone to be aware of this developer MCT. Look at their FB website..everything seems so nice from the outside. It's actually shitty inside. Hokkien ppl called it " Chao Ka" - Kaki Busuk. Wish everyone share this information out to all. Thanks I will go to Tribunal But their still launch Cyber South Case green and get very good response! |
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bigmamma
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Mar 26 2015, 09:13 PM
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QUOTE(whyang80 @ Mar 26 2015, 05:11 PM) Maybe can read through this article. There's a link to the webpage of the tribunal. http://www.thestar.com.my/News/Nation/2014...-late-delivery/How come u so fast can collect keys? They hv not called me yet. Anyone else hv not received VP notification? |
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Babizz
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Mar 26 2015, 09:25 PM
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QUOTE(whyang80 @ Mar 26 2015, 02:47 AM) For info sharing : I just got off the phone with the Tribunal. The person in charge stated that the Court has already decided that LAD payment is from Purchase Price. Latest case Nov2014 confirmed that LAD must be calculated from Purchase Price in S&P and Not Discounted Price. The person in charge attributed that many such cases from developers not following the protocol. Requested me to submit for tribunal. good to know..above everything, mct malu la.. now they launching their most ambitious n overpriced reo but no hope fr lad there la. |
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rumahmurah
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Mar 27 2015, 02:34 AM
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Getting Started
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If LAD is not more than RM50K file the claim in the Housing Tribunal. Less costly and fast. The filing fee is RM10/-. Hearing commences within 30 days upon submitting all the relevant documents including a copy of the SPA to the Tribunal. No lawyer required to represent the "pihak yang menuntut"
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peri peri
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Mar 27 2015, 01:25 PM
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visionary developer just getting stronger http://www.thestar.com.my/Business/Busines...ions/?style=biz i suggest TS just take the offer Attached thumbnail(s)
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red_scorpion
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Mar 29 2015, 10:15 PM
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Wah...I had purchased MCT another property -> the place one city in 2012 with DIBS, signed SNP on Jun 2012.
So if they can't handover the keys by June2015, I can claim this also? My SNP also written with purchased price not discounted price.
Is it after 3 years, the DIBS will be automatically cancel even thought they haven't handover key to us? They won't pay interest on behalf of us anymore? I have to pay myself and claim this LAD? tq
This post has been edited by red_scorpion: Mar 29 2015, 10:19 PM
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puchongite
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Mar 29 2015, 10:35 PM
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QUOTE(red_scorpion @ Mar 29 2015, 10:15 PM) Wah...I had purchased MCT another property -> the place one city in 2012 with DIBS, signed SNP on Jun 2012. So if they can't handover the keys by June2015, I can claim this also? My SNP also written with purchased price not discounted price. Is it after 3 years, the DIBS will be automatically cancel even thought they haven't handover key to us? They won't pay interest on behalf of us anymore? I have to pay myself and claim this LAD? tq You have to refer back to the document which you got from developer. Developers never include Dibs in the SNP. There are various implementations. There is no standard DIbs per se. |
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The Jedi
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Mar 29 2015, 10:42 PM
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stupid MCT!
save pennies by breaching SPA terms but lost reputation and trust!
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puchongite
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Mar 29 2015, 10:46 PM
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QUOTE(The Jedi @ Mar 29 2015, 10:42 PM) stupid MCT! save pennies by breaching SPA terms but lost reputation and trust! Chinaman. |
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