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 Cancellation & Refund after SPA sign but unstamped, Anyone did before ?

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TSLeft4Dead2
post Dec 13 2017, 09:25 AM, updated 8y ago

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As per the title, can it be done since SPA not yet stamp to date because the developer not yet obtain/renew their approved permit development license ?

I think there could be charges for lawyer fee etc, how about developer can they charge as well ?
kkk368
post Dec 13 2017, 03:48 PM

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I am interested to know too.

How about a signed and stamped SPA? Can I ask developer to cancel it?
TSLeft4Dead2
post Dec 13 2017, 04:00 PM

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QUOTE(kkk368 @ Dec 13 2017, 03:48 PM)
I am interested to know too.

How about a signed and stamped SPA? Can I ask developer to cancel it?
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Signed n stamped liao definitely susah. The void contract term is mention in the SPA

Normally is because loan or funding problem, they may return deposit less charges. If no payment later, then forfeit everything wink.gif
kkk368
post Dec 13 2017, 04:05 PM

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QUOTE(Left4Dead2 @ Dec 13 2017, 04:00 PM)
Signed n stamped liao definitely susah. The void contract term is mention in the SPA

Normally is because loan or funding problem, they may return deposit less charges. If no payment later, then forfeit everything  wink.gif
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Thanks for your comments. How about if the purchase is due to misrepresentation from SA?
gugukrez
post Dec 13 2017, 04:11 PM

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QUOTE(kkk368 @ Dec 13 2017, 04:05 PM)
Thanks for your comments. How about if the purchase is due to misrepresentation from SA?
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then you shall show the proof + 3 years attend to court with burning money and you can make the cancel the unit..
kkk368
post Dec 13 2017, 04:12 PM

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As a foreigner, I would like to share my bad experience and alert any potential buyer!

I know this is a forum mostly for local people but I wish this platform can help to prevent similar incident from happening again.

I purchased a unit in LaVile in mid of this year. Unfortunately, I find out that I have paid more than 25% premium for a same unit that sell to local people recently. The developer has two price lists. One for local and the other for foreign buyer.

From my point of view, it is very unethical of developer to sell their units to foreigner by making use of the threshold amount RM 1million defined by the government. The developer sell all their units to foreigners at all above RM 1 million no matter the true value of the units.

I recommend everyone to think deeply before making your purchase decision of this project.

This is your money! This is your own investment!!

gugukrez
post Dec 13 2017, 04:15 PM

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QUOTE(kkk368 @ Dec 13 2017, 04:12 PM)
As a foreigner, I would like to share my bad experience and alert any potential buyer!

I know this is a forum mostly for local people but I wish this platform can help to prevent similar incident from happening again.

I purchased a unit in LaVile in mid of this year. Unfortunately, I find out that I have paid more than 25% premium for a same unit that sell to local people recently. The developer has two price lists. One for local and the other for foreign buyer.

From my point of view, it is very unethical of developer to sell their units to foreigner by making use of the threshold amount RM 1million defined by the government. The developer sell all their units to foreigners at all above RM 1 million no matter the true value of the units.

I recommend everyone to think deeply before making your purchase decision of this project.

This is your money! This is your own investment!!
*
aint all the unit price show on the board? unless your comparing with those that purchase on early release and you purchase on final release..
sunami
post Dec 13 2017, 04:16 PM

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QUOTE(Left4Dead2 @ Dec 13 2017, 05:00 PM)
Signed n stamped liao definitely susah. The void contract term is mention in the SPA

Normally is because loan or funding problem, they may return deposit less charges. If no payment later, then forfeit everything  wink.gif
*
normally u only secure loan then only sign S&P
TSLeft4Dead2
post Dec 13 2017, 04:21 PM

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QUOTE(kkk368 @ Dec 13 2017, 04:12 PM)
As a foreigner, I would like to share my bad experience and alert any potential buyer!

I know this is a forum mostly for local people but I wish this platform can help to prevent similar incident from happening again.

I purchased a unit in LaVile in mid of this year. Unfortunately, I find out that I have paid more than 25% premium for a same unit that sell to local people recently. The developer has two price lists. One for local and the other for foreign buyer.

From my point of view, it is very unethical of developer to sell their units to foreigner by making use of the threshold amount RM 1million defined by the government. The developer sell all their units to foreigners at all above RM 1 million no matter the true value of the units.

I recommend everyone to think deeply before making your purchase decision of this project.

This is your money! This is your own investment!!
*

Well it is the price to be pay to buy property in Malaysia now as foreigner. How about those benefit from Malaysia as Second Home programme ?
gugukrez
post Dec 13 2017, 04:30 PM

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QUOTE(kkk368 @ Dec 13 2017, 04:13 PM)
Bros,
This is my case! I would like to cancel SPA. Pls give your valuable input.

Thanks.
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two account dupe detected..

I believe most of the expats.. purchasing RM 800k unit but ask developer mark up 200k.. So it will be 1mil for the property..
kkk368
post Dec 13 2017, 04:32 PM

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QUOTE(gugukrez @ Dec 13 2017, 04:15 PM)
aint all the unit price show on the board? unless your comparing with those that purchase on early release and you purchase on final release..
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The situation is that I only saw one price list show on the board and I assumed this was the ONLY price list from developer. I purchased a unit based on that pricing. I am not aware of another price list for local buyer is existed until recently.
gugukrez
post Dec 13 2017, 04:38 PM

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QUOTE(kkk368 @ Dec 13 2017, 04:32 PM)
The situation is that I only saw one price list show on the board and I assumed this was the ONLY price list from developer. I purchased a unit based on that pricing. I am not aware of another price list for local buyer is existed until recently.
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Normally you enter the show unit.. there will be a board showing all unit either available with price or not available.. i dont think developer will use two price board.. if on the same time 3 expats and 5 local walk in.. how the developer going to tackle the situation..


kkk368
post Dec 14 2017, 11:50 AM

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QUOTE(gugukrez @ Dec 13 2017, 04:38 PM)
Normally you enter the show unit.. there will be a board showing all unit either available with price or not available.. i dont think developer will use two price board.. if on the same time 3 expats and 5 local walk in.. how the developer going to tackle the situation..
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Only foreigner price list I could saw at that time. I didn't saw local buyer price list until I visited KL.

This post has been edited by kkk368: Dec 14 2017, 10:45 PM
hanhanhan
post Dec 20 2017, 01:20 PM

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even give you "local" price list u also cannot buy since you're foreigner.

assuming property is in KL, foreigners only can buy property above 1mil.
hanhanhan
post Dec 20 2017, 01:23 PM

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try contact the developer if they're willing to do that for u.

legally you can fight for it, since their APDL yet to renew

as for charges, refer to developer & lawyer accordingly as there's no general standard "cancellation" fees involved and differs from each lawyer & developer.

This post has been edited by hanhanhan: Dec 20 2017, 01:23 PM
sunami
post Dec 29 2017, 04:23 PM

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QUOTE(muaznoordin90 @ Dec 29 2017, 05:16 PM)
Just curious what if we sign bank LOA but not signed SnP yet, then sudden decide to cancel to purchase, can I still cancel the Bank loan LOA?
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yes..the LOA can be voided with some penalty..
i think LOA stated this...

This post has been edited by sunami: Dec 29 2017, 04:24 PM
TSLeft4Dead2
post Dec 29 2017, 04:28 PM

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QUOTE(muaznoordin90 @ Dec 29 2017, 04:16 PM)
Just curious what if we sign bank LOA but not signed SnP yet, then sudden decide to cancel to purchase, can I still cancel the Bank loan LOA?
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QUOTE(sunami @ Dec 29 2017, 04:23 PM)
yes..the LOA can be voided with some penalty..
i think LOA stated this...
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Why not just let the offer lapse after some period ? Should be charges incurred, just blacklisted, haha
scodeqx
post Jan 5 2018, 10:16 PM

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QUOTE(Left4Dead2 @ Dec 13 2017, 04:00 PM)
Signed n stamped liao definitely susah. The void contract term is mention in the SPA

Normally is because loan or funding problem, they may return deposit less charges. If no payment later, then forfeit everything  wink.gif
*
Hi. May I know what is this mean. I already sign my spa but my loan disbursement has been put on hold.. This is what the lawyer send me when I ask about it

Thank you


Attached thumbnail(s)
Attached Image
dannychen
post Jan 5 2018, 10:20 PM

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QUOTE(scodeqx @ Jan 5 2018, 10:16 PM)
Hi. May I know what is this mean. I already sign my spa but my loan disbursement has been put on hold.. This is what the lawyer send me when I ask about it

Thank you
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your mrta policy not yet inforce.
scodeqx
post Jan 5 2018, 10:22 PM

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QUOTE(dannychen @ Jan 5 2018, 10:20 PM)
your mrta policy not yet inforce.
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Oh so it is normal right? am afraid that the bank suddenly cancel my loan.. Huhu
dannychen
post Jan 5 2018, 10:34 PM

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QUOTE(scodeqx @ Jan 5 2018, 10:22 PM)
Oh so it is normal right? am afraid that the bank suddenly cancel my loan.. Huhu
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you may follow up with salesman/branch handling your application.
scodeqx
post Jan 5 2018, 11:25 PM

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QUOTE(dannychen @ Jan 5 2018, 10:34 PM)
you may follow up with salesman/branch handling your application.
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Will do.. Thank you
sentinelking
post Feb 7 2018, 10:50 PM

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Hi, i was facing a similar issue where i signed but unstamped spa due to loan was in progress. Then i found another agency selling the same project with much lower price (i was informed they "bought" and resale the unit from developer). I was going to cancel my initial booking since the gap was around 15k. Please advise what should i do and what kind of penalty i might face. thanks
jomonista
post Jun 10 2020, 08:54 AM

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Bumping this. Anyone has experienced getting back the deposit etc and cancelling a UNstamped SPA due to developer not yet have APDL?

Please share your process to do this.
timeonce
post Sep 1 2020, 11:50 AM

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Yeah. If my MLTA got cancel cause insurance say i die faster .. what is the process. Stupid insurance. Dahlah mahal. Need pay RM6k per annum and they reject my insurance submission as deem high risk as overweight. Erm..
jenastan
post Mar 18 2021, 10:36 PM

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Sorry can I ask.

I recently faced such issue as well where as I bought a unit then later decided to upgrade to a bigger unit, I only paid booking fee. But now the previous unit lawyer send me an invoice of RM10k. Before I proceed to switch to bigger unit, I have double confirm with the SA only the additional cost and their reply is only RM1K, thats why I proceed with the booking for the new unit and had recently signed the new spa.

I was so shocked when I received this. Can you guys advise some approach to not pay this amount? Should I approach LHDN or Housing Ministry for some advice?

Please advise. Sorry all.

Appreciate it.

I consulted both the invoice lawyer and my new spa lawyer, both said need to pay that amount. Please help
KopiMalaysiano
post Mar 18 2021, 10:42 PM

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QUOTE(kkk368 @ Dec 13 2017, 04:12 PM)
As a foreigner, I would like to share my bad experience and alert any potential buyer!

I know this is a forum mostly for local people but I wish this platform can help to prevent similar incident from happening again.

I purchased a unit in LaVile in mid of this year. Unfortunately, I find out that I have paid more than 25% premium for a same unit that sell to local people recently. The developer has two price lists. One for local and the other for foreign buyer.

From my point of view, it is very unethical of developer to sell their units to foreigner by making use of the threshold amount RM 1million defined by the government. The developer sell all their units to foreigners at all above RM 1 million no matter the true value of the units.

I recommend everyone to think deeply before making your purchase decision of this project.

This is your money! This is your own investment!!
*
Is a tax thing. We have campaign like "Malaysia my second home" these premium were reduced to foreigner, but still far cry from prices of property in UAE

 

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