Mar 2 2016, 09:15 AM
QUOTE(Suksuk @ Feb 28 2016, 08:09 PM)
My husband and I bought a landed property back in Nov'12. As per the S&P, the delivery of vacant possession is 2 years from the date of the agreement i.e. Nov'14. However, it is now already Feb'16, we still haven't heard from the developer on the delivery of the house.
In Dec'15, We did go to the developer's office and check with the admin personnel incharged of this housing project. She said the delivery of the house will be in Feb'16. Then in mid Feb'16, we checked with her again. Now she said will be in Mar'16 or Apr'16. But we doubt it. We went to the housing site and noticed that the construction of the last phase has been stopped.
Even tough the agreement stated that the developer shall be liable to pay us the liquidated damages, we are afraid that this will become an overdue forever.
Would anyone please advise what are the steps that we have to follow in such a case? Do we need to ask the solicitor to issue a letter of demand of liquidated damages? As we are confused because some solicitor said need to, but the solicitor the we engaged in said no need. In addition, our solicitor is actually recommended by the developer. We are also worried that he might be on the developer side.
Please help to give us some advices.
In Dec'15, We did go to the developer's office and check with the admin personnel incharged of this housing project. She said the delivery of the house will be in Feb'16. Then in mid Feb'16, we checked with her again. Now she said will be in Mar'16 or Apr'16. But we doubt it. We went to the housing site and noticed that the construction of the last phase has been stopped.
Even tough the agreement stated that the developer shall be liable to pay us the liquidated damages, we are afraid that this will become an overdue forever.
Would anyone please advise what are the steps that we have to follow in such a case? Do we need to ask the solicitor to issue a letter of demand of liquidated damages? As we are confused because some solicitor said need to, but the solicitor the we engaged in said no need. In addition, our solicitor is actually recommended by the developer. We are also worried that he might be on the developer side.
Please help to give us some advices.
QUOTE(Suksuk @ Feb 29 2016, 09:54 PM)
Do we have to write letter to keep following up with the developer? Seems like this whole housing project has stopped.
We have already started paying loan installment since the loan I
Was approved. We are so worried that the property will have no value if the developer drags longer.
You are of course entitled to the late delivery interest in accordance to the Sale and Purchase Agreement provided that all the conditions of defaults has occurred. Please be reminded though that these are just "paper legal rights" which means it just gives you a cause of action but does not guarantee you monies. If the Developer goes bust then you are suing a shell and nothing more.We have already started paying loan installment since the loan I
Was approved. We are so worried that the property will have no value if the developer drags longer.
Eitherway, you cannot issue a letter of demand for the late delivery interest yet as there is no cut-off point yet hence you are unable to calculate the actual amount due to you rather what will happen if you issue a letter of demand to the Developer is you are going to piss them off and may make things difficult for you.
Always try to resolve matters amicably and only when things started to go sour or you noticed the Developer is putting you through and everlasting loop of excuses then go for drastic measures, you may even considering lodging a report with the government since it's the government who issues them the developer's license.
Nonetheless, please check with the Developer on the what is the reason causing the delay/stop in progress? Your delay in completion is quite worrisome.
Do you mind sharing which project it is and who is the Developer?
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