During progress billings, the bill payment by banker loan side due to misc reasons, was late and charged interest by the developer

During vacant possession, developer insisted that this late interest charges to be settle before purchaser get the keys.

Developer said bank late payment, banker said not their fault, some said lawyer side fault, in the end no one want to responsible. Purchaser have to pay this late interest if want to get the property fast.

So normally for this kind of case , how you all settle ?

Logically you have done your part as the bank had approved your mortgage application and agreed to proceed with disbursement.

If the payment was.late as a result of lawyer side then it should be you lodge a complain to the bank and the bank have to deal with the lawyer to seek solutions or vice versa. Don't be ended up as scapegoat from this.

It's not me of course, just that see many purchasers caught in this situation for my company. So just curious on how other settle this case.

Some banker willing to pay for their mistakes, some purchaser just accept this fault and paid themselves. The amount sometimes quite big, 4-5 figures

Anyone want to share their awful story ?

No doubt that the Developer has the right to demand clear payment before delivering vacant possession of the Property to you, so let's get that out of the way first.

As for the late payment interest, it's not unusual for everyone to deny responsibilities. You can verify the fault yourself by doing the followings:-

1. check with the developer which stage of the progressive billing was late; and
2. counter check with the bank and see when they disbursed the progressive loan sum to the developer.

From there, you should be able to work your way out.

Unless the late payment interest was incurred on the first disbursement, high chances are that it is not the solicitors issue because after the first advise, the solicitors basically do not need to do anything as the developer will issue their progressive billings directly to the bank and the bank will issue payment accordingly.

My take, it is the Bank's fault or that the Developer stupidly sent the progressive billing late or something like that. There should be acknowledgement of receipt of everything.

Get the bankers to have the bank issue a chronology of disbursement.

Normally it is advisable to ask developer to give their prove and chronology event

But who will take the blame is the problem, lawyer/banker or developer themselves ?

Never ending story

As per above.. get the proof and chronology from Developer,banker and lawyer.. then you can see the fault is under who..

It is not OWNER FAULT.. unless you buy the house by cash and you late to make payment to developer..

you must already remember.. You pay for the bank and lawyer to process this house purchase..

You PAID.. sudah bayar then goyang kaki.. if still need you to do thing.. then why pay them to process the house..

Actually, there is nothing for the developer to give/proof because the obligation to act does not rest with them, it rests with the financier's solicitors and the financier.

What you really need is when the financier received the progressive billing from the developer and when the financier actually disbursed that progressive payment. The duration between the receipt and the disbursement would give you a good ground to start investigation.

There is no such thing as a "never ending story", this is not a fairy tale there is always an end to it.

Not entirely true. There are circumstances where even the purchaser isn't purchasing the property by cash but still contributed to the delay in disbursement.

Purchaser/borrower's lateness in settling the solicitor's legal fees, stamp duties, differential sums and even some other monies which the developer requires the purchaser/borrower to comply first before the developer will issue their confirmation to facilitate the solicitors to advise the financier for the disbursement.

So, don't be so quick to jump the gun.

Alot of purchasers/borrowers (and these are usually the worst kind) always thought that once they appointed a firm of solicitor, no matter what they do, it is never their fault. You cannot be expecting a firm of solicitors to advance all payments, can you? It's a firm, open for business, not a charitable body.

Perhaps the most nonsensical group of purchasers/borrowers ae the ones that make payment on the dateline and then expect the firm of solicitors to pull off some Barry Allen crap.

This post has been edited by shaniandras2787: Dec 6 2017, 11:01 AM

tumpang tered.
dunno related or not, this is my first house.
buying from owner thru agent.
bank start making 1s payment rm112k to owner bank, and i have to pay interest RM368.

Hor hor, most likely lawyer side. Sila share chronology

and..... your question is o_O?

Most probably but sometimes purchaser's solicitors are stupid enough to not take into account vendor's solicitor's contribution to the delay. that happens when you sourced for firm that charge you cheap rates.

have this problem too... got chronology from lawyer and pending now from banker... this problem sure ding dong ding dong between these two parties..

I received my late payment notice few weeks back. Submitted letter to the developer stating full chronology and related earlier communications with them. End up they gave me 40% discount. Still have to pay 3.2k. Lawyer asked me to fight until they waive the full amount since it's their bureaucracy problem. Requested a 10 minutes appointment with the related department to clear the issue but they rejected the idea stating they only communicate through email (which takes 14 days for me to know the feedback). Hope to clear the issue smoothly with the developer but they are going for the rough path. Should I consider going to the tribunal?

If u got the time, go bising at their office and ask for settlement. I see alot people come bising to see the management for this kind of matter

If u wait, then more interest and also Tribunal could take times.

Hi,

Can anybody share with me the appeal letter to the developer? PM me.

Thanks!