So is it buyback or terminate spa?
I oso blur
Yes to me buyback is developer buy back. Terminate spa is different
Hence the confusion.
But anyway I'm not involved in all this.
Just curious nia

generous or its according to SPA term? i think SCP here is according to SPA term... the penalty is consider to be 'generous' to buyers who just paid RM1000 booking fees only... lol

i also dont have the SPA bro... lol... and i just hearsay here and there only... the additional should be 10% of the nett price of the SPA i think....

i think to considered as owning the property already... would require around rm1000 booking fees and loan stamp duty and disbursement to be paid to complete the transaction... the expenses paid will be reimbursed by developer... so RM1000 booking now get back 10% SPA price penalty from developer... consider not bad a deal....

Well if more than 2 years before buyback, like Ekocheras.. almost all will be entitled. Most Ekocheras hotel suites were cash buyers, because of the low absolute price. IIRC 60-70% returns over 2-3years as progressive billing was still less than 50%.

More than 2 years, most likely most SPA are signed unless unlikely circumstances.

By not taking loan, it increases the % of profit and speed of settlement.

by the time of termination is already claim progress til 70%.... but they only started selling when it was 50% progress...

Morning people... I am a purchaser of Societe.... this is what happened....

1. Went to showroom twice...3rd time paid the deposit.
2. Offer was 10% discount + 8% + 20k  (if spa signed between 30 days)
3. Spa price is with out discounts.
4. Loan approved.
5. I bought few more properties... elsewhere
6. Signed all documents...spa...loan docs...and etc.
7. Settled balance to developer (loan was lower)
8. Overlooked to pay lawyer disbursement fees on time.
9. Call from SCP ...offer to buy back unit at 10% from purchased price (not spa price) and pay the bank, lawyers and everything else we paid... reason being developer change their mind and wanna do something else.
10. Two weeks later Demand Letter from SCP for ...demanding lawyers disbursement Fees and progressive claims from bank...
11. 2 days later Paid laywers disbursement Fees... told lawyer to expedite.
12. 14 days later ...termination letter issued... to terminate ....
13 . 15 days later letter of undertaking from bank to SCP was also denied.

This is what has happened so far... so purchaser who is in a similar predicament... please come get in touch with me and let's see if we can figure out a way to settle this issue.