Apr 1 2015, 10:19 AM
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
Before you even thinking of going to tribunal, please check and make sure the project is under Schedule H. From your LAD 8% i am quite certain this is another version of SOFO/SOVO that u bought. MCT sold a lot of such projects. Schedule H the LAD is 10% for parcel + another 10% of balance 20% purchase price for the common area deliveries. 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
Otherwise you might just waste gas.
If that is the case, you can't go to tribunal. It is either you group together with all buyers and bring them to court (after the risk vs reward analysis) or just accept the payment and move on with your life.
This post has been edited by gks: Apr 1 2015, 10:24 AM
Quote
0.0237sec
0.66
7 queries
GZIP Disabled