Depends on your S&P - those modified S&P has got loop holes to allow the developer to escape paying you your LAD. It ususally applies to those services aprtments and condos that have commercial title.

Continue to service your loan principal until forever... actually if the project abandoned you're screwed. If you got money start servicing the loan until you no longer owe the bank money...

Not much it's not up to you... you can only collect LAD and pester the developer!



When is it due for completion...?

Anyway there are reasons why projects tend to stop for months at a time sometimes its due to worker issues, delay in materials... or stop work order... you'll have to inquire with the developer.

BTW if the surrounding area is by the same developer it can happen when they reassign their work force to finish other projects first and will get back to your apartment at a later stage.

This post has been edited by aaronpang: Apr 6 2007, 12:39 PM

Is this your first time buying property?

Banks really makan consumers when it comes to housing loan... to be honest I see no point in purchasing property thats not ready built and servicing the loan for nothing in return!

Just to share my personal buying experience. I waited for the housing project to complete and purchased a fully completed house from the developer at launch price developer didn't even markup the purchase price... because of competition in Puchong and the soft property market.

End of the day I saved a bundle on my loan and still got a completed house at the same price as those who purchased units much earlier before construction.

I fully support the government to adopt the build and sell concept! not like now where they sell then build (or abandon)

Wish you all the best, and hopefully the developer will have a good answer for you!

Cheers!