Mar 25 2015, 11:44 PM
QUOTE(whyang80 @ Mar 25 2015, 09:56 AM)
Hi,
Just want to seek advice here. I bought 1 studio unit from Developer. The key hang over was delayed over a period of 5 months. I called to ask about the compensation which is LAD. LAD is calculated based on :
(Purchase Price x 8% x No.Days Delayed) / 365 Days.
The S&P stated Purchase Price will be used as calculation. However this developer seems to play foul on buyer. They informed us now that the LAD will be calculated based on Discounted Price ( Which is lower ). It has breached the agreement specifying Purchase Price which is without Discount. I informed the person in charge from the Developer and they informed me it's the management decision. Please advice us what action can i take ? Can i directly sue them ? Thanks for the feedback
Sorry to hear this bad incident but Thanks for sharing! I agree that you need to take action I.e, go tribunal they can't simply bulldozed. We are not cowboys in wild Wild West! You signed S&P which is legally binding agreement thus you have the right to get the LAD based on the S&P terms! Just want to seek advice here. I bought 1 studio unit from Developer. The key hang over was delayed over a period of 5 months. I called to ask about the compensation which is LAD. LAD is calculated based on :
(Purchase Price x 8% x No.Days Delayed) / 365 Days.
The S&P stated Purchase Price will be used as calculation. However this developer seems to play foul on buyer. They informed us now that the LAD will be calculated based on Discounted Price ( Which is lower ). It has breached the agreement specifying Purchase Price which is without Discount. I informed the person in charge from the Developer and they informed me it's the management decision. Please advice us what action can i take ? Can i directly sue them ? Thanks for the feedback
Good also to note MCT's performance on their project delivery! Have to beware before purchasing any of their products!
This post has been edited by Gomz1205: Mar 25 2015, 11:45 PM
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