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 Developer charged late payment interest

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coolguy99
post Feb 11 2019, 04:28 PM

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I am in the same predicament as well. Calling the developer first thing tomorrow morning to settle this. Wish me luck.
coolguy99
post Feb 11 2019, 04:32 PM

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QUOTE(255247 @ Feb 11 2019, 04:31 PM)
developer dy sent you the letter informing to charge u late payment interest?
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Yes they call it interest notice.
coolguy99
post Feb 11 2019, 04:47 PM

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QUOTE(cempedaklife @ Feb 11 2019, 04:45 PM)
gone case, but like others said. go get the chronology of events from lawyers and banks, ask them about the delay at each end. and try nego with developer.

for the benefits of others, when buying a property, its on you (yes YOU! not developer, not lawyer, not banks) to make sure the bank releases the first payment on time. subsequent payment usually no issue as they have the record and everything is setup already.

YOU need to call developers if pending developers end, you need to call lawyers if you still waiting lawyers action, you need to call banks when everything is ready just wait them releases first payment.
that's the way it is. unfair but that's the reality. its like all those big corporations should have the manpower, process to do this and follow up, but no! you give them business, you still need to follow up yourself  laugh.gif
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I wish I know about this sooner. Sigh now it seems like I am fighting a lost cause.

coolguy99
post Feb 11 2019, 04:50 PM

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QUOTE(cempedaklife @ Feb 11 2019, 04:49 PM)
how much is the late payment? if its a rm100 or 200 like that, just pay it for less hassle, like others said as well.
thats what happened to my wife as well.
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It’s 1k+. Damn crazy amount.
coolguy99
post Feb 11 2019, 04:57 PM

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QUOTE(cempedaklife @ Feb 11 2019, 04:52 PM)
how come so much? its only a few days man.
if me, i will sure wreak havoc b4 i pay the amount.
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Not sure how did they come up with this amount. In the interest notice that they sent they specify some period with 10% interest.

Sigh what a way to start the year.
coolguy99
post Feb 11 2019, 05:24 PM

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QUOTE(TunaFish1990 @ Feb 11 2019, 05:18 PM)
1 owner RM1k

if medium density of around 200 units that's Rm200k yo!
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Easy money la. How la. Really don’t want to pay the 1k. Hope developer will waive.
coolguy99
post Feb 11 2019, 05:34 PM

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QUOTE(doppatroll @ Feb 11 2019, 05:31 PM)
Reason with them....else just go to consumer board office and file complaint....
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Can I do that?
coolguy99
post Feb 11 2019, 06:10 PM

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QUOTE(tky1993 @ Feb 11 2019, 06:04 PM)
Hahaha which sohai developer so calculative lol

Last time I late more than 20 days also dindnt kena charge one single cent.
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Mine is a small boutique developer not gonna reveal their name now
coolguy99
post Feb 11 2019, 09:03 PM

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QUOTE(teehk_tee @ Feb 11 2019, 07:38 PM)
'Boutique' developer

Ie first time developer? Huhuhuhu
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Has a few completed projects already. But overall still pretty new.
coolguy99
post Feb 12 2019, 09:06 PM

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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.
coolguy99
post Feb 13 2019, 07:26 PM

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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 ..
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Not sure lah. Just hope they will waive it for me.

 

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