Welcome Guest ( Log In | Register )

Outline · [ Standard ] · Linear+

 Developer charged late payment interest

views
     
iwubpreve
post Feb 12 2019, 10:40 AM

Regular
******
Senior Member
1,829 posts

Joined: Mar 2013
late payment charges how much first?
TS255247
post Feb 12 2019, 10:43 AM

New Member
*
Newbie
5 posts

Joined: Dec 2017
QUOTE(iwubpreve @ Feb 12 2019, 10:40 AM)
late payment charges how much first?
*
10% of that stage2 ..ard RM5 K..
TS255247
post Feb 12 2019, 10:51 AM

New Member
*
Newbie
5 posts

Joined: Dec 2017
QUOTE(jfarm86 @ Feb 11 2019, 05:35 PM)
im lucky then, they're dev assigned lawyer since free stamping duty and legal fees.

got charged late interest payment on my first phase, i call and ask dev they tell me to get the chronology of event from lawyer. clearly the fault is not at me since i got follow up closely whenever i received the letter for each payment. one week later, dev issue the clearance letter and inform me regarding the waiver of the late interest payment.
*
hello.. thanks for your reply. meaning u get the lawyer helps you to proceed chronology of event then developer agreed to waive the late payment interest?
can ask, how's the chronology event process? what action or letter we need to prepare ya?
jfarm86
post Feb 12 2019, 11:18 AM

Getting Started
**
Junior Member
286 posts

Joined: Nov 2007
From: Digiworld


QUOTE(255247 @ Feb 12 2019, 10:51 AM)
hello.. thanks for your reply. meaning u get the lawyer helps you to proceed chronology of event then developer agreed to waive the late payment interest?
can ask, how's the chronology event process? what action or letter we need to prepare ya?
*
the chronology of event is just like a summary on the whole process on when the SnP is stamp, when receive LI, LO, and etc. As well as the loan process.
lawyer will have it, you just need to call and ask them or email them and told them the situation.

As for appeal letter, you can just google and take any format and write on your own will do. Of course you need to deal with the right PIC on developer site.
TS255247
post Feb 12 2019, 11:36 AM

New Member
*
Newbie
5 posts

Joined: Dec 2017
QUOTE(jfarm86 @ Feb 12 2019, 11:18 AM)
the chronology of event is just like a summary on the whole process on when the SnP is stamp, when receive LI, LO, and etc. As well as the loan process.
lawyer will have it, you just need to call and ask them or email them and told them the situation.

As for appeal letter, you can just google and take any format and write on your own will do. Of course you need to deal with the right PIC on developer site.
*
oh. so first thing i need to get the chronology of event from lawyer then write the appeal letter myself and attached the chronology of event..then send to developer PIC ? is that any supporting docs i need attached ? anything i missed from this appeal process?

btw, can fully waive the penalty or just partial of the amount?
jfarm86
post Feb 12 2019, 11:57 AM

Getting Started
**
Junior Member
286 posts

Joined: Nov 2007
From: Digiworld


QUOTE(255247 @ Feb 12 2019, 11:36 AM)
oh. so first thing i need to get the chronology of event from lawyer then write the appeal letter myself and attached the chronology of event..then send to developer PIC ? is that any supporting docs i need attached ? anything i missed from this appeal process?

btw, can fully waive the penalty or just partial of the amount?
*
that's all you needed, unless developer need other docs.

fully waive or not is depends on the chronology event and developer decision, this i can't give you a definite answer.
coolguy99
post Feb 12 2019, 09:06 PM

Look at all my stars!!
*******
Senior Member
7,356 posts

Joined: Aug 2015



Just called the developer today and to my surprised they said they will get the chronology of events from the lawyer, and get back to me.
TS255247
post Feb 13 2019, 11:09 AM

New Member
*
Newbie
5 posts

Joined: Dec 2017
QUOTE(coolguy99 @ Feb 12 2019, 09:06 PM)
Just called the developer today and to my surprised they said they will get the chronology of events from the lawyer, and get back to me.
*
wah..ur developer so good, get the things from lawyer so u dont need to go ard ..
coolguy99
post Feb 13 2019, 07:26 PM

Look at all my stars!!
*******
Senior Member
7,356 posts

Joined: Aug 2015



QUOTE(255247 @ Feb 13 2019, 11:09 AM)
wah..ur developer so good,  get the things from lawyer so u dont need to go ard ..
*
Not sure lah. Just hope they will waive it for me.
qilaf
post Feb 13 2019, 07:30 PM

Getting Started
**
Junior Member
213 posts

Joined: Jun 2009


These are exact reasons why I chose to hire own lawyer. A lawyer can’t act on both sides right ? Can report the lawyer to Bar Council ?
gjunhao
post Jan 7 2021, 12:17 PM

Getting Started
**
Junior Member
52 posts

Joined: Jun 2020
So in the end did developer waive the charges?
SUSagewisdom
post Jan 7 2021, 12:18 PM

Enthusiast
*****
Senior Member
729 posts

Joined: Mar 2007


QUOTE(255247 @ Feb 11 2019, 11:53 AM)
but the lawyer is developer side..i didnt pay any $ lawyer fees..
*
HAHAHA
xtanks5449
post Jan 7 2021, 12:27 PM

New Member
*
Junior Member
47 posts

Joined: Jun 2009
QUOTE(255247 @ Feb 11 2019, 11:42 AM)
Hi guys,

Wanna seek your advice/opinion about my case.

I made booking to new condo at end of Oct. then apply loan and sign letter offer in December also sign the loan agreement and S&P document with lawyer on 23 December 2018.

Then first progress billing letter issued was 28 Dec that request stage 2 payment need to be paid before 2 Feb 2019. so i keep calling and chasing lawyer firm and banker to fast fast executed my document before Feb..

8 Jan- Lawyer firm sent all documents to bank for execution.
18 Jan - Bank returned all documents to lawyer firm for stamping.
31- Lawyer firm finished stamping and sent letter of advice to bank for drawndown payment.
mid of Feb - developer saying that bank hasnt release payment. so i will be charge on late payment interest.

im so confusing with the progress.. what should i do now and how can i waive the interest as this is not my fault.. and seems lawyer firm and bank also wont admit is their fault too...
*
Be an adult, learn how to write proper a letter explaining all this shit things and delays cause by lawyer or bank (if you feel their are responsible) to the developer. I believe you got sales person attending to you, find that sales person pass the letter to developer (don't pass to lawyer as you highly possible complaining the delays due to slowness by lawyer).

In most cases, the developer can waive the interest as usually the Late Payment Interest is computer generated and didn't take consideration external factors.

5 Pages « < 3 4 5Top
 

Change to:
| Lo-Fi Version
0.0179sec    1.11    5 queries    GZIP Disabled
Time is now: 23rd December 2025 - 05:08 AM