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Develover keeps delaying the project
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mini orchard
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 Oct 26 2020, 05:59 AM
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QUOTE(cisdelo @ Oct 26 2020, 05:06 AM) So i have a question, what can we do if the developer keeps delaying the project? its been 2 years over the schedule. can we just change our mind and just sell back to the developer? is there something we can do? The only thing you can do is to complaint to whoever wants to listen ... Zuraida's office, MP, Adun, Press, and of course this forum. Gather as many purchasers b4 doing the above. Lone voice is like an MP without a party in Parliment. PS ... If only some buyers dont get entice by freebies and cashback, developer's background check is never a concern until such things happened. Sometimes buying a slightly more expensive subsale is not too bad afterall and with today's market, more subsales are cheaper than launching ... can choose, can see, can nego, everything also can ... but of course need some downpayment and cost. This post has been edited by mini orchard: Oct 26 2020, 07:25 AM |
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mini orchard
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Oct 26 2020, 10:45 AM
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QUOTE(BeetchX @ Oct 26 2020, 10:34 AM) Delaying meaning they already completed but have not handover yet or they are still building?. There's nothing you can do for now.. may be you can check their construction period. If the construction is below 50% and you decided to pull out, then you will get a 10% penalty charge. then meanwhile your bank loan also will kena penalty if you cancel the loan. But if you continue with the project.. then suddenly the developer declare bankruptcy.. then you got no choice but to continue serve the loan for the remaining year.. Thats the worst case scenario. I have not come across this issue yet.. but i think its more or less like this la... Which project ha... where? What happen then to the partial loan released to developer ? You think the developer will return to the bank ? If is 10% penalty only and nothing else, I will go for it. So what penalty payment are you refering about the bank loan ? This post has been edited by mini orchard: Oct 26 2020, 10:48 AM |
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