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> Loan Penalty due to Cancellation, Developer Misleading Floor Plan

Mollai
post Jan 3 2018, 03:41 PM

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QUOTE(Fido.Dido @ Jan 3 2018, 01:19 PM)
There is such a clause... But as far as i know, it  isn't enforced. It's just pieces of paper stating the offer amount and t&c. Not legally binded... U can say u din sign also ma or not agree with certain clauses... Who knows?

I know so many people that canceled after signing LO, cause different banks giving better offer after they signed.

Unless u signed the loan agreement and s&p... Then will be a different story.  Even if developer is paying legal, some lawyer also charge u for the cancellation cause developer not paying them. The costs needs to be parked somewhere.
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I signed the loan agreement. Didn't sign S&P. But I signed to I should be binded by the terms.
The lawyer didn't contact me for the cancellation fee.


Mollai
post Jan 3 2018, 03:41 PM

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QUOTE(Fido.Dido @ Jan 3 2018, 01:19 PM)
There is such a clause... But as far as i know, it  isn't enforced. It's just pieces of paper stating the offer amount and t&c. Not legally binded... U can say u din sign also ma or not agree with certain clauses... Who knows?

I know so many people that canceled after signing LO, cause different banks giving better offer after they signed.

Unless u signed the loan agreement and s&p... Then will be a different story.  Even if developer is paying legal, some lawyer also charge u for the cancellation cause developer not paying them. The costs needs to be parked somewhere.
*
I signed the loan agreement. Didn't sign S&P. But I signed to I should be binded by the terms.
The lawyer didn't contact me for the cancellation fee.


Mollai
post Jan 3 2018, 03:42 PM

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QUOTE(HarpArtist @ Jan 3 2018, 01:13 PM)
nego with the bank ask for a 12 mth grace period to shop for another home. they should be happy that they didnt lose your business.
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I wanna nego to cancel off this fee la... I don't think I want to buy house dy...It's not easy, and new houses these days so high density and small...lol
hontoni1983
post Jan 3 2018, 03:44 PM

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QUOTE(Mollai @ Jan 3 2018, 12:43 PM)
This is what the banker told me. She can transfer if I want to buy another property.
But the problem is it wasn't easy for me to find something I like. I doubt I want to rush buying a property just to avoid that 2k penalty.
Is there any way I can complain on this issue that the developer misleaded..like is there any organizations that can help?

I'm sure the next person considering the property might missed out this room that I spotted.
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Anyway to ask your agent to fight another unit for u? for e.g. some loan rejected unit?? Normally if the agent did show u the layout and floor plan,and u miss out, really, they won't take any responsible one,just like someone bought a unit which have water tank on top,he also can't complaint because he didn't check and ask at the 1st place....
Maybe u just take chance splash your agent ask him to find u another better unit la....

Meantime, you can check with your bank see how long they can wait,then u use that time to find another property maybe??
Fido.Dido
post Jan 3 2018, 03:53 PM

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QUOTE(Mollai @ Jan 3 2018, 03:41 PM)
I signed the loan agreement. Didn't sign S&P. But I signed to I should be binded by the terms.
The lawyer didn't contact me for the cancellation fee.
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Loan Offer letter and Loan agreements are two different things.

Are you sure that you have signed the offer letter and also loan agreement?

Usually Loan Agreement and S&P will be signed same time if the lawyer is the same.

HarpArtist
post Jan 3 2018, 05:26 PM

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QUOTE(Mollai @ Jan 3 2018, 03:42 PM)
I wanna nego to cancel off this fee la... I don't think I want to buy house dy...It's not easy, and new houses these days so high density and small...lol
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hahaha subsale bro subsales.
nexona88
post Jan 3 2018, 06:10 PM

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QUOTE(hontoni1983 @ Jan 3 2018, 12:36 PM)
I don't think developer will absorb, else, another solution is, if you are buying for another property, you may ask the bank who offer you and convert the loan to that new property, then you can avoid the 2k penalty.
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Well said..
His good alternative / solution..
BEANCOUNTER
post Jan 3 2018, 11:20 PM

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QUOTE(Mollai @ Jan 3 2018, 01:11 PM)
My LO from Maybank. There is such clause for the penalty.
Legal fees was charged to Developer, so I don't have to pay.
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How the bank is going to force you to pay if you dun have acc w mayban?

2k they can hardly sue you for it.
BEANCOUNTER
post Jan 3 2018, 11:23 PM

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2k take it as tuition fee lah.....
skincladalien
post Jan 3 2018, 11:52 PM

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imo they cant charge you.

alot bank try to do small small things which are actually against the bank negara policy. try to check with the bank negara
Mollai
post Jan 4 2018, 11:39 AM

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QUOTE(hontoni1983 @ Jan 3 2018, 03:44 PM)
Anyway to ask your agent to fight another unit for u? for e.g. some loan rejected unit?? Normally if the agent did show u the layout and floor plan,and u miss out, really, they won't take any responsible one,just like someone bought a unit which have water tank on top,he also can't complaint because he didn't check and ask at the 1st place....
Maybe u just take chance splash your agent ask him to find u another better unit la....

Meantime, you can check with your bank see how long they can wait,then u use that time to find another property maybe??
*
Most of the layout not to my liking, and it's not easy for me to find something I like and willing to pay booking fee.


QUOTE(Fido.Dido @ Jan 3 2018, 03:53 PM)
Loan Offer letter and Loan agreements are two different things.

Are you sure that you have signed the offer letter and also loan agreement?

Usually Loan Agreement and S&P will be signed same time if the lawyer is the same.
*
I've check it's loan offer. However it has a clause saying there will be a penalty if I cancel.


QUOTE(HarpArtist @ Jan 3 2018, 05:26 PM)
hahaha subsale bro subsales.
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Sis tag bro...

QUOTE(nexona88 @ Jan 3 2018, 06:10 PM)
Well said..
His good alternative / solution..
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Not keen to buy anymore.. better keep money with me and go travel..

QUOTE(BEANCOUNTER @ Jan 3 2018, 11:20 PM)
How the bank is going to force you to pay if you dun have acc w mayban?

2k they can hardly sue you for it.
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I have a bank account with them.. and in actual fact most of my money with MBB. The clause say that they can use any method to take the money (meaning directly from my account).
I will also try to use the point that I'm a loyal customer to appeal for these 2k penalty.

QUOTE(BEANCOUNTER @ Jan 3 2018, 11:23 PM)
2k take it as tuition fee lah.....
*
If it's really my mistake, I pay. But bro, even on the flyer it didn't show that room.


Mollai
post Jan 4 2018, 11:40 AM

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QUOTE(skincladalien @ Jan 3 2018, 11:52 PM)
imo they cant charge you.

alot bank try to do small small things which are actually against the bank negara policy. try to check with the bank negara
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Is there any way I can check?
I want to send a complaint to Ministry of Housing regarding the false advertising by the developer.

BEANCOUNTER
post Jan 4 2018, 12:49 PM

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QUOTE(Mollai @ Jan 4 2018, 11:40 AM)
Is there any way I can check?
I want to send a complaint to Ministry of Housing regarding the false advertising by the developer.
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not advertise and false advertise are two diff things leh.....

and not everyone is allegy to pump room. many good projects pump room floor or next door units also kena sapued.

Its almost the duty of buyer to ask questions before buying. No developer to give you answer when you don't asked. If you asked abt the empty area and the developer said its just a void area and later turned out to be pump room, then its their misleading advertising.
skincladalien
post Jan 4 2018, 01:45 PM

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QUOTE
The clause say that they can use any method to take the money (meaning directly from my account).


lol this definitely against BNM policy already, tell them if they touch your money you report BNM.
Mollai
post Jan 4 2018, 03:54 PM

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QUOTE(BEANCOUNTER @ Jan 4 2018, 12:49 PM)
not advertise and false advertise are two diff things leh.....

and not everyone is allegy to pump room. many good projects pump room floor or next door units also kena sapued.

Its almost the duty of buyer to ask questions before buying. No developer to give you answer when you don't asked. If you asked abt the empty area and the developer said its just a void area and later turned out to be pump room, then its their misleading advertising.
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The area... it's not like a foyer..in the brochure, the floor plan that area is outdoor dy...
And it is stated that only floor 7 and floor 8 like that specifically. And my unit was at 8th floor.
I'll try to attach a picture using my phone later.

QUOTE(skincladalien @ Jan 4 2018, 01:45 PM)
lol this definitely against BNM policy already, tell them if they touch your money you report BNM.
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Sure can? I signed dy wor...
Mollai
post Jan 4 2018, 03:58 PM

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Attached Image
Attached Image

The brochure vs S&P

Sorry..dunno how to flip the picture.. my unit was 03

This post has been edited by Mollai: Jan 4 2018, 04:01 PM
BEANCOUNTER
post Jan 4 2018, 07:07 PM

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Yeah...very misleading....
Developer should compensate you.
Mollai
post Jan 8 2018, 07:54 AM

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QUOTE(BEANCOUNTER @ Jan 4 2018, 07:07 PM)
Yeah...very misleading....
Developer should compensate you.
*
Should...but don't think they will la...

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