I'm posting this separately coz I feel it deserves a topic of its own.

Anyway I hope I got it right if anybody is more experienced in this matter can comment and advice I'd really appreciate it!

1) Find out who is your stake holder?

You should have a letter from the developer informing who your stakeholders are.

2) Write a notice to withhold releasing the 5% stakeholders sum to the developer...

I don't warranty this letter to be correct because honestly I've never had to write one of these yet:-

A) Sample letter to the stakeholders. <<<Replace Information In Bracket>>>


3) Send a copy of this notice together to your stakeholder and developer.

Try to send to the stakeholder by registered mail or in person hand deliver it, also bring along extra copies and get the stakeholder lawyers to stamp, date and sign acknowledgment of receipt.

It's better if you send it in by hand rather than have our reliable post service "Hilang" such an important document.

Then attach a copy to your developer with a cover letter notifying the developer they're not getting any money unless they fix your defects or you will fix it yourself and deduct the repair cost from the stakeholders share. Include a quotation for the cost of repairs when you send it to the developer and CC your stakeholder.

You can get a formal quote from your friendly PCK contractor loitering around any new housing area or calling the phone number on banners hung in front of newly renovated homes. Heck I've received some very professional looking quotations even from those chinamen type contractor. Majulah IT!

B) Sample notice letter to the developer. <<<Replace Information In Bracket>>>



edit: Updated the with notice letter to the developer & minor corrections

This post has been edited by aaronpang: Mar 9 2007, 03:00 PM

Good suggestions will do...

That's a really good letter much more legal sounding and very threatening ... I'll edit (plagiarise) to look more like that

This post has been edited by aaronpang: Mar 8 2007, 06:22 PM

Its the lawyers, typically your S&P lawyers! If I'm not mistaken...

This post has been edited by aaronpang: Sep 13 2007, 11:53 AM

S&P doesn't involve the banks or their lawyers its an aggrement between you (the purchaser) and the developer (the vendor) therefore its typically your S&P lawyer... that holds the money in trust.

From my experience anyway the stakeholder was the S&P lawyer

I did some checking and this is what I've got from HBA

http://hba.org.my/HBA/Publication/guide_update.doc

And this is what's spelled out in the S&P

Building or in the common property have not been made good by the Vendor, the Purchaser shall be entitled to recover from the Vendor the cost of repairing and making good the same and the Purchaser may deduct such costs from any sum which has been held by the Vendor's solicitor as stakeholder for the Vendor and subject to subclause (2), the Vendor's solicitors shall release such costs from such sum to the Purchaser within fourteen (14) days after receipt by the Vendor's solicitors of the Purchaser's written demand.

Hope that helps!

Check my earlier post:-

the Vendor's solicitors shall release such costs from such sum to the Purchaser within fourteen (14) days after receipt by the Vendor's solicitors of the Purchaser's written demand.

Yup you can pay your contractor first or make an arrangement with your contractor to remit payment after you're reimbursed. See lah how you nego with your contractor

If it's after DLP or if the stakeholder funds have been released the above does not apply...

Anyway if it's the upstairs apartment leaking you'll have to complain to the Management Office of your apartment.

They will investigate and if the leak is due to the upstairs apartment then your upstairs neighbor will have to fix it. On the other hand if the leak is from a common pipe etc the management office is responsible.