Cancellation & Refund after SPA sign but unstamped, Anyone did before ?
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 Dec 13 2017, 09:25 AM, updated 8y ago
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#1
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Senior Member
1,103 posts Joined: Nov 2009 
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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 ? |
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Dec 13 2017, 04:00 PM
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#2
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Senior Member
1,103 posts Joined: Nov 2009
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QUOTE(kkk368 @ Dec 13 2017, 03:48 PM) I am interested to know too. Signed n stamped liao definitely susah. The void contract term is mention in the SPA How about a signed and stamped SPA? Can I ask developer to cancel it?  Normally is because loan or funding problem, they may return deposit less charges. If no payment later, then forfeit everything  |
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Dec 13 2017, 04:21 PM
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#3
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Senior Member
1,103 posts Joined: Nov 2009
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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 ? |
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Dec 29 2017, 04:28 PM
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#4
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Senior Member
1,103 posts Joined: Nov 2009
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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? QUOTE(sunami @ Dec 29 2017, 04:23 PM) yes..the LOA can be voided with some penalty.. Why not just let the offer lapse after some period ? Should be charges incurred, just blacklisted, hahai think LOA stated this... |
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