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 Let's Talk Properties. The Q&As, What would you like to know?

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gooroojee
post Jun 27 2021, 11:49 PM

LowYee
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2,190 posts

Joined: Feb 2012
QUOTE(YeohKW @ Nov 3 2020, 04:46 PM)
What would you like to know about the real estate industry in Malaysia?

How easy can it be on making decision on what to buy or invest?

What are process for first time buyers?

Blah blah blah....

Get your questions discussed here. Appreciate if everyone who comment a constructive and positive answers related and not harming anyone.
*
Well I want to ask ... when developer engage panel lawyer and offer free legal fees, what kinds of wierd and devious clauses do they insert into the SPA? If we can share experiences then even if lawyer is not on our side we can ask for certain things, or we know what we can or cannot ask for... which helps...

I know a developer that made buyers sign 48 month delivery due to MCO, and also sign a pre-authotisation for developer to change the plans later on (one to developer, one to government body).

How about you? What should we watch out for, and what should we avoid in the SPA?
gooroojee
post Jun 28 2021, 11:33 PM

LowYee
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Senior Member
2,190 posts

Joined: Feb 2012
QUOTE(YeohKW @ Jun 28 2021, 10:41 PM)
Hi. if you are buying from developer, most of the terms are same as prescribed under Housing Development Act. Only the info of the project can be change. So basically if you are buying from developer directly, you can be assure that the terms are protecting you.

*However, this only applies to Residential titled properties. Commercial title properties are not bound under HBA jurisdiction.

Reading article
This is a good article for your info.
*
Commercial under HDA how?
gooroojee
post Nov 21 2021, 12:06 PM

LowYee
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Senior Member
2,190 posts

Joined: Feb 2012
I have a question. Developer submitted progressive billing to me and bank, but my panel loan lawyer (with developer since it's free) hasn't received a disclaimer letter from the developer and my loan processing tersangkut for 6 months now.

The progressive billing is overdue. I want to ask:

1. Will I be responsible for the late payment? I signed the loan documents in May 2021.
2. Will I be eligible for the free stamp duty? If the loan processing takes longer than this year?

Thanks!

 

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